The Deduction

Reconciliation. One word that drives D.C. crazy, yet has been the way some of Congress’s most monumental bills have become law.On this episode, host Jesse Solis is joined by federal tax policy experts Erica York and Garrett Watson to discuss why this complex budget process is back in the mix as Congress gears up to advance President Biden’s multi-trillion-dollar tax agenda.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

The quick-moving world of cryptocurrency can be confusing and, at times, comical.On this episode of The Deduction, join Tax Foundation's Jesse Solis, Garrett Watson, and Alex Muresianu as they dive down the rabbit hole of cryptocurrency taxation.How should policymakers view crypto in the first place—as an asset, like stocks, or as a currency? How big is the issue of tax evasion in the cryptocurrency market and what can realistically be done to curb it? Is it possible to design a rational tax system around what, at times, can appear to be a less-than-rational market and, if so, what should it look like? Tune in to find out.Look Busy by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license (https://creativecommons.org/licenses/by/4.0/).Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100172Artist: http://incompetech.com/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Increasing enforcement of existing laws instead of increasing taxes is an appealing way to raise revenue. But would stronger enforcement have costs for law-abiding taxpayers too?  On this episode of The Deduction, host Jesse Solis and Federal Policy Analyst Alex Muresianu discuss the tax gap, what it is, how the U.S. compares to other countries, and recent proposals aimed at closing it.They also explore how much revenue could actually be raised through increased tax enforcement, the current challenges the IRS faces, and how stronger enforcement could impact taxpayers at large.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

As final state revenue figures come in for fiscal year 2021, many states are finding they are in a much healthier position than they ever would have anticipated this time last year.And as a result, a remarkable trend has emerged: so far in 2021, eleven states have responded by reducing income tax rates and making related structural reforms.On this episode of The Deduction, host Jesse Solis and Senior Policy Analyst Katherine Loughead explore how stronger-than-expected revenues and increased workplace flexibility have led to a wave of reforms aimed at enhancing tax competitiveness in states around the country. Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 world of semiconductor manufacturing and all the ways policymakers should (and shouldn't) respond to today's challenges.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 economies, revenues, and real people, and what the path forward looks like.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 economic inefficiencies this emerging area of state tax policy faces.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 minimum tax designed to disincentivize U.S. companies from shifting profits overseas, but it doesn't work how drafters intended, and now President Biden has proposed doubling it.Learn more about this niche international policy and its deceivingly large impact on U.S. competitiveness and the economy.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 Zarathustra” by Kevin MacLeodSupport the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 economy, and where we see today's trends leading in this episode of The Deduction.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show