If you've read any headlines in the last few months, you've no doubt heard about the semiconductor shortage gripping global supply chain—and if you've tried to buy anything from a toaster to a car, you've witnessed it firsthand. But what's really driving today's crisis, can the U.S. manufacture its way out of it, and what role does tax and economic policy have to play in all this? On this episode of the Deduction, Jesse Solis talks to Tax Foundation Economist Erica York about the complicated wor...
Jul 06, 2021•21 min
One of the hottest topics in the tax world today is the recent announcement by G7 finance ministers that they would support enacting a new, 15 percent global minimum tax. On this episode of The Deduction, Scott Hodge is joined by Tax Foundation's Daniel Bunn and Elke Asen to discuss this agreement and answer an important question: how much weight does it really carry? We dive into the economic and political implications of a 15-percent global minimum tax, how such a tax would impact global econo...
Jun 14, 2021•36 min
Across the U.S., policymakers of both parties have developed a strong interest in taxing large technology companies through digital advertising taxes, social media taxes, and data taxes. What is notably absent is any consistent rationale for these new proposals. On this episode of the Deduction, Tax Foundation's Daniel Bunn and Jared Walczak untangle the complex and sometimes contradictory world of state digital taxes. Learn more about the legal difficulties, administrative challenges, and econo...
Jun 07, 2021•28 min
Policymakers in Washington are edging closer to a deal on an infrastructure package. But while many believe it will be an economic boon to workers across the country, one provision tucked deep into the American Jobs Plan could jeopardize jobs across the country. On this episode of The Deduction, we speak with Pam Olson, Tax Foundation Board Member and Consultant on Tax Policy Services at PwC, about the tax on Global Intangible Low Tax Income, or “GILTI." In 2017, GILTI was implemented as a minim...
May 24, 2021•24 min
Tax Foundation President Scott Hodge is joined by Senior Policy Analyst Ulrik Boesen to discuss the taxation of cannabis (marijuana). The legalization and taxation of recreational marijuana remains one of the hottest trends in state taxation. New York recently became one of the latest states to legalize it. Join us as we dive into the complex world of marijuana taxation and explain how policymakers should approach designing such taxes. Creative Commons Attribution: "Richard Strauss: Also Sprach ...
Apr 02, 2021•36 min•Season 1Ep. 13
Senior Policy Analyst Ulrik Boesen joins Tax Foundation President Scott Hodge discuss and explore the wide and varied world of excise taxation. Marijuana, betting, soda, ride-sharing—over the last decade, the excise tax family has grown significantly and it's more crucial than ever that lawmakers, businesses, and consumers understand the possibilities and, more importantly, limitations of excise tax application. Learn about the history of excise taxes, how they impact government revenues and the...
Mar 22, 2021•28 min•Season 1Ep. 12
Tax Foundation President Scott Hodge is joined by economist Erica York and Senior Policy Analyst Garrett Watson to answer a question U.S. policymakers have been asking for decades: how should we tax research and development (R&D)? R&D is more important than ever as pharmaceutical companies and governments around the world invest in coronavirus research and supply chains. But are the policies currently on the books—the R&D credit and immediate deduction for R&D expenses (soon to b...
Mar 08, 2021•33 min•Season 1Ep. 11
Tax Foundation President Scott Hodge interviews Ken Kies, former Chief of Staff for the Joint Committee on Taxation (JCT) from 1995 to 1998. Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show
Feb 22, 2021•28 min•Season 1Ep. 10
Economist Erica York joins Scott Hodge, President Emeritus and Senior Policy Advisor at the Tax Foundation, to discuss one of the most misunderstood issues in tax policy: tariffs. Depending on your perspective, tariffs are either a great way to tax countries like China for their protectionist trade policies or they are a big reason why all those imported toys, clothing and holiday gifts cost more than you expected. You'll learn what tariffs are, how they function, and how they can impact the dom...
Feb 08, 2021•28 min•Ep. 9
Rohit Kumar, principal and leader of PwC's Washington National Tax Services Tax Policy Services group in Washington, D.C., joins Tax Foundation President Scott Hodge to discuss the congressional budget reconciliation process: what it is, how it works, and the role that politics will play in it for the 117th Congress as well as President Biden's policy agenda. Prior to joining PwC, Mr. Kumar served in a number of distinguished government positions. He worked in close collaboration with three Sena...
Jan 25, 2021•34 min•Ep. 8
The digitalization of the global economy has brought with it increased opportunity and connectedness, but also new business models that elude existing tax structures. Over the last several years, policymakers in countries around the world have groped for new ways to tax e-commerce, social media, cloud-based, and other online businesses, in some cases stoking major international trade disputes in the process. In this episode of The Deduction, we explore the “digital services tax” (DST), one new a...
Jan 12, 2021•25 min•Ep. 7
What is driving the downward trend in corporate tax rates and will it continue? Is it truly a "race to the bottom?" Why do corporate tax rates matter in the first place? How does the U.S. rate compare and could that change in the coming years? Tax Foundation Policy Analyst Elke Asen joins President Scott Hodge to discuss the latest data on corporate tax rates around the world. Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show...
Dec 14, 2020•26 min•Ep. 6
On this episode, we take a more personal look at taxes and particularly their effects on small businesses and entrepreneurs facing the challenges of the COVID-19 pandemic. Over the past eight months, the U.S. has seen tens of thousands of small businesses close their doors, and we think it's important for us to do our part to highlight the role that tax policy can play in supporting small businesses and clearing a path to a post-pandemic economic recovery. We recently sat down with the owners of...
Nov 17, 2020•31 min•Season 1Ep. 5
What do election results mean for the future of the federal tax code? What role will tax policy play in curbing the economic effects of the COVID-19 pandemic? How should policymakers address the federal deficit and could a carbon tax be part of that solution? How much of President-elect Joe Biden's pre-election tax plan will actually come to pass? Tax Foundation President Scott Hodge and special guest, Doug Holtz-Eakin, president of the American Action Forum and former director of the Congressio...
Nov 14, 2020•28 min•Season 1Ep. 4
They may not draw as much attention as elections for office, but Election Day 2020 will also feature a number of important votes on tax-related ballot initiatives in states around the country. What are the ballot measures taxpayers should be paying attention to this year and what could they mean for the future of state tax policy? Tax Foundation Vice President of State Projects Jared Walczak and Senior Policy Analyst Katherine Loughead break down measures ranging from recreational marijuana lega...
Oct 26, 2020•31 min•Season 1Ep. 3
Some post-COVID projections show the highway trust fund running out as early as 2021. Meanwhile, most state gas taxes are losing value every year due to inflation. What can the U.S. do to raise the revenue needed for infrastructure upkeep and accurately internalize the costs associated with road usage? Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show...
Oct 12, 2020•23 min•Season 1Ep. 2
Depending on the outcome of the 2020 presidential election, we could be looking at a very different tax code in the years to come. What tax changes has former Vice President Joe Biden proposed and what would they mean for U.S. taxpayers, businesses, and the overall economy? Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show...
Sep 25, 2020•38 min•Season 1Ep. 1
