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Showing posts for "Corporate Regulation and Taxation"

Failure to Adjust: How Americans Got Left Behind in the Global Economy

by Edward Alden
failure-to-adjust-alden

I am delighted to announce the publication of my new book, Failure to Adjust: How Americans Got Left Behind in the Global Economy, which is the product of nearly four years of research and a quarter century spent as a reporter and policy analyst covering the ups and downs of America’s trade policies. As my friend and former reporting colleague Bruce Stokes of the Pew Research Institute said recently, for those of us who have labored in the obscure details of U.S. trade negotiations for decades, it has been astonishing to see trade become one of the hot-button issues of the 2016 presidential election. It is even more astonishing to see a Republican presidential candidate running on an openly protectionist platform, and to see a Democratic internationalist like Hillary Clinton running away from her record on trade. Read more »

Apple’s European Tax Bill: Time to Pay Up and Play by the Rules

by Edward Alden
A sign is seen outside the Apple Store in Covent Garden in London (Toby Melville/Reuters). A sign is seen outside the Apple Store in Covent Garden in London (Toby Melville/Reuters).

Apple and its allies in the U.S. Treasury and Congress would have you believe that this week’s ruling by the European Commission that the company must pay some $14.5 billion in taxes owed to Ireland and other governments is an assault on one of America’s most innovative and successful companies. Read more »

Why Paul Ryan Should Not Endorse Donald Trump

by Edward Alden
U.S. Speaker of the House Paul Ryan takes questions at a news conference after his meeting with Republican presidential candidate Donald Trump (Jim Bourg/Reuters). U.S. Speaker of the House Paul Ryan takes questions at a news conference after his meeting with Republican presidential candidate Donald Trump (Jim Bourg/Reuters).

House Speaker Paul Ryan is reportedly still trying to decide whether to endorse the presumptive Republican nominee for president, Donald Trump. Asked this week at a news conference whether he was ready to back Trump, he would say only “I have not made a decision.” While pressure is growing for Ryan to jump on the GOP bandwagon starting to form behind Trump, the answer should be obvious: No. Read more »

Trade in Services: WikiLeaks and the Need for Public Debate

by Edward Alden

WikiLeaks has done it yet again, releasing in an extraordinarily timely fashion many of the latest negotiating texts from the Trade in International Services Agreement (TISA), just in advance of a meeting of negotiators next week. Their sources, it has to be said, are impressive. I worked many years ago as a reporter for the newsletter Inside U.S. Trade, where one of our goals, in the pre-digital age, was to encourage leaks of trade negotiating positions. But, with the exception of the Clinton administration’s proposal for the NAFTA labor and environmental side agreements in 1993, we rarely got our hands on the texts themselves. Read more »

WikiLeaks and Trade: A Healthy Dose of Sunshine

by Edward Alden
FedEx Mojave Airport California A FedEx MD-11 takes off from the Mojave Airport in California (Reuters).

I love WikiLeaks. While I recognize that secrecy has its place, I strongly believe that the affairs of the people should, to the greatest extent possible, be conducted with the full knowledge of the people. Secrecy breeds distrust, and feeds claims that governments are only serving narrow corporate interests. Thus I was delighted to see in my inbox this morning that WikiLeaks has yet again purloined and published a series of trade negotiating texts, this time for the pending Trade in Services Agreement (TISA). Read more »

Federal Regulations: Not “Job-Killing,” But Still Costly

by Edward Alden
CFR Renewing America Federal Regulation Policy Scorecard The CFR Renewing America Federal Regulation Policy Scorecard

There are few issues in Washington today that generate more heat than regulations–that broad swathe of government actions that affect everything from air quality to worker safety. Congressional Republicans are promising to take aim at “job-killing regulations,” arguing that a rollback of onerous federal laws will boost U.S. economic competitiveness and spur job growth. Read more »

Dumb Government and Smart Government

by Edward Alden
Kevin Spacey House of Cards Alice Tully Hall Lincoln Center New York City Actor Kevin Spacey arrives at the premiere of Netflix's television series "House of Cards" at Alice Tully Hall in the Lincoln Center in New York City (Stephen Chernin/Courtesy Reuters).

There were two stories in the paper over the weekend – both of them local to the Washington, DC area – that perfectly captured the difference between smart government spending and dumb government spending. Let’s start with the dumb first.

Since 2012, the Maryland state government has been offering increasingly generous tax credits to persuade filmmakers to locate their productions in the state, most notably the Netflix series “House of Cards.” A new report from the non-partisan Maryland Department of Legislative Services concludes that the state has wasted more than $60 million to encourage productions that create only a handful of short-term jobs and bring little revenue back to the state. For every dollar the state spends on tax incentives, the report found, about 10 cents comes back. Read more »

Corporate Inversions: Small Fish in A Big Pond of Corporate Tax Problems

by Rebecca Strauss
Burger King customer Marignane airport France A customer reacts after collecting his food order on the opening day of the Burger King restaurant at the Marignane airport hall (Jean-Paul Pelissier/Courtesy Reuters).

Washington policymakers can be forgiven for focusing on the low-hanging fruit when it comes to corporate tax reform. When Congress hasn’t managed any kind of major reform since 1986, we should probably be happy with any tax reform progress, no matter how small. Read more »

Toward a Progressive Tax Policy

by Renewing America Staff
Occupy Wall Street protester Federal Hall New York Stock Exchange New York A lone Occupy Wall Street protester sits in front of Federal Hall, across the street from the New York Stock Exchange, in New York (Brendan McDermid/Courtesy Reuters).

The “global wealth tax” suggested by Thomas Piketty in his book Capital in the Twenty-First Century is a utopian-style suggestion to reconstruct the global tax structure. In a new column for Bloomberg View, CFR Adjunct Senior Fellow Peter Orszag suggests two more practical reforms that could make the U.S. tax system more progressive: establishing a progressive consumption tax and changing the U.S. estate tax into an inheritance tax.