Our country faces a serious fiscal crisis. According to President Obama's National Commission on Fiscal Responsibility and Reform, the nation is on an unsustainable fiscal path, with spending well above tax revenue. The Congressional Budget Office projects that, under current policies, federal...

Brill, Satel, and Viard examine proposals to extend federal and state tobacco taxes to e-cigarettes. They conclude that e-cigarettes should not be subjected to tobacco taxes at this time, because the current medical evidence does not point to any significant adverse health effects

he U.S. income tax system, which collected $1.5 trillion in receipts in fiscal year 2007, has, as its principal base, wage income plus the income from capital. To understand how the tax code affects the macro economy, one must understand how taxing wages affects work and how taxing capital...