This article concludes a two-part series on effective marginal tax rates (EMTRs) and the U.S. individual income tax system. The EMTR is the change in tax liability that occurs when an additional dollar of income, here taken to be labor income, is earned. In an income tax system, the EMTR...

A VAT would avoid the saving disincentives and resulting economic inefficiency imposed by income taxation, but its introduction could fuel spending growth, particularly if an income tax was also retained. Several issues would have to be resolved before a VAT could be adopted in the United States

In this article, Viard argues that the tax policy debate's misdirected focus on helping small business has weakened the push for marginal tax rate reduction and promoted the rise of inefficient and complex policies, such as the section 1202 small business stock exclusion

The federal government confronts a long-run fiscal imbalance arising from the rapid projected growth of Medicare, Medicaid, and Social Security spending compared with revenue. The enactment of a value added tax is often mentioned as a possible solution to this imbalance. This article is the...

On October 14, 2011, the U.S. Court of Appeals for the Eighth Circuit decided Midwest Railcar Repair v. South Dakota Department of Revenue and Regulation, with a divided three-judge panel rejecting a claim that South Dakota's imposition of sales and use tax on railroad car repairs violated the...