In the spring of 2018, New Jersey’s new governor and leaders in the legislature were arguing about which state taxes to raise. Governor Phil Murphy had pledged to soak the wealthy with a state individual income tax of 10.75 percent on all income more than $1 million, but powerful State Senate President Steve Sweeney preferred […]
Consumers are becoming increasingly aware of the risk online activities pose to privacy and data security following the Equifax data breach and Cambridge Analytica’s use of social media sites to collect information about potential voters. It is understandable that consumers are concerned about how private companies protect their information; what should be of greater concern […]
There is a lesson to be learned from the dispute between political insiders in New Jersey that has unfolded over the last couple of months regarding raising taxes. Throughout 2017, gubernatorial candidate Phil Murphy (D) pledged that, if elected, he would implement a millionaires’ tax in the state: a tax of 10.75 percent on all […]
During the first week of April, 2018, a number of organizations filed amicus briefs with the Supreme Court with respect to the case of South Dakota v. Wayfair, Inc., Overstock.com, Inc., and NewEgg, Inc. The petitioner in the case seeks to overturn the physical nexus requirement specified by the Supreme Court in 1992, when it […]
While the rest of us were popping champagne to celebrate the arrival of 2018, Seattle greeted the New Year with a 1.75 cent per ounce tax on sweetened beverages. It was needed, former Mayor Ed Murray once said, for a host of noble reasons: to reduce sugar consumption; to raise revenue for important projects like […]
According to the National Retail Federation, holiday sales for 2017 are expected to increase by between 3.6 to 4 percent over last year. During this busy time of year for e-commerce, it is a good time to reiterate that Congress should not bring back the Marketplace Fairness Act. American consumers spend hundreds of billions on […]
The House of Representatives and the Senate are vigorously working to pass a tax reform package before the end of the year. Both the House and Senate passed their budget resolutions with reconciliation instructions by Thanksgiving, a necessary step in order to craft their respective tax reform packages. The entire House passed their tax reform […]
When politicians decide to tax something new, taxpayers rarely see the end of it. This adage is especially true of so-called “sin taxes,” levies on products like alcohol, tobacco, and, increasingly, soda. Those in government always appreciate more money, and politicians like beating up on unpopular industries. It’s a two-pronged argument: you shouldn’t be buying […]
Faced with a budget deficit of $3.5 billion over the next two years, and three months overdue on a budget for fiscal years 2018 and 2019, Connecticut lawmakers face a difficult situation and must make tough choices. In 2011 and 2015, the legislature tried to solve the state’s fiscal woes by passing big tax increases. […]
In political patois, “kicking the can down the road” connotes procrastination. As long as the proverbial can is kicked “down the road,” rather than picked up, then the proper disposition of the derelict container is put off until some future point in time. And much like the (equally proverbial) kicker’s aversion to taking definitive action on a relatively straightforward task, the U.S. Congress is composed of 535 “can kickers,” given their predilection to avoid taking action until the last possible minute. On Tuesday, September 5, 2017, when the current Congress reconvenes after its annual August recess, it will have less than a month to complete several “must pass” items.
