thought there was hope for Maryland. Republican Gov. Larry Hogan seems like a moderate guy compared with most Maryland pols. I had hoped the governor would release a comprehensive tax plan to broaden the base and reduce rates in a state long known for its bad tax policy.
Tax Analysts Blog
During the lunch break at a tax conference in Lisbon last January, I was fortunate to be seated next to a brilliant tax professor from the U.K., Rita de la Feria. Shortly after we exchanged the usual pleasantries, she asked me a pointed question. Although it required little thought to answer, the question itself raised issues that have colored how I view recent events – including developments in international taxation – in Europe.
The federal budget deficit will increase for the first time since President Obama's first year in office, and many in Washington are trying to cause a panic about it. The deficit will grow from $439 billion last year to $544 billion next year, according to a Congressional Budget Office report released Tuesday. The primary reason is the extenders compromise passed in December, but those who are feigning anger either don't understand how extenders have worked for decades or are purposely crying wolf.
Everyone likes tax reform. Except liberals, of course. And conservatives, too.
The Washington Department of Revenue has ruled that Boeing Co. and other aerospace firms must disclose savings from their tax breaks. The DOR had previously determined that those companies were not required to disclose their tax savings to the public. But bowing to pressure from The Seattle Times (and some excellent journalism at the paper), it had a change of heart.
Sometimes it really feels like something untoward is going on, but the suspicion is difficult to confirm. I’m having one of those moments regarding the Minnesota Tax Court.
One of our favorite discussion topics is the VAT -- more specifically, whether the United States will ever adopt a federal consumption tax. In that regard, much can be learned from looking at the experiences of other countries. What’s happening in India – the world’s largest democracy -- is noteworthy because it underscores some of the difficulties in harmonizing a federal VAT with preexisting taxes at the state and local levels.