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The Way We’re Taxed: A Brief History

Here’s a link to the WRC’s new policy brief: The Way We’re Taxed: Brief History.  

Increased Federal Tax on Sales of Partnerships Will Cost Washington Jobs and Income

Recent federal proposals would apply ordinary income tax rates rather than capital gains rates to gains from sales of investment service partnership interests.  According to our analysis, this change could reduce annual personal income in Washington state by almost $300 million. Our Policy Brief on the subject is available here.

Rockefeller Institute reports state collections recover nationally, not yet here

The Nelson A. Rockefeller Institute of Government reports that two successive years of growth have pushed states’ revenues abover the pre-recession peak. The full study is available here. States’ tax collections grew for the eighth straight quarter at the end of 2011, for the first time topping peak revenue levels seen at the beginning of […]

Another study finds not having an income tax is good for a state's business climate

The Small Business and Entrepreneurship Council is out with its annual business tax climate report. (Press release here and pretty cool interactive map here.) According to SBEC, Washington has the 5th best business tax system. SBEC constructs its index using 18 measures: The 18 measures are: 1) state’s top personal income tax rate, 2) state’s top […]

The inequality debate and its progenitors

The New York Times runs an extended profile piece on Emmanuel Saez and Thomas Piketty, the two economists whose work underpins much of the current political assault on “inequality.” Last week, I posted here on the overhyped discussion, including links to recent research indicating that the Piketty-Saez analysis is fundamentally flawed. Simply: they ignore a lot of relevant things. In […]

New Pew Center on the States report evaluates evaluations of tax incentives

In my column today, I comment on a recent report by the Pew Center on the States. The study, Evidence Matters, examines how states evaluate tax incentives. From the column: Pew identifies Washington as one of 13 states “leading the way” in the systematic evaluation of tax incentives. Washington’s review process does a good job […]

Time to shed some light on the overhyped income inequality debate

It’s spring and soon the fair weather protesters will take to the warming streets to denounce income inequality once again. The chants of the 99 percent, however, should fade in the face on an increasing body of economic research that reveals the hollowness of their fundamental premise. The rich have not gotten richer at the […]

Lawmakers leave Olympia with balanced budget and structural reforms

Although it took a few hours of a second special session (consider it stoppage time), the state legislature adjourned this morning with a balanced budget and some important structural reforms. Rachel La Corte has a good, brief report for AP on the session’s final hours and accomplishments. Here’s the governor’s statement. Acknowledging the difficult challenge […]

Budget debates won't end when the gavel falls on the special session

In my column this morning, I suggest that the state’s ongoing budget shortfalls provide the proper lens through which we should view the coming election. The polar positions have been clearly defined. Reformers are calling for fundamental policy changes: conforming public employee pensions to fiscal reality and private sector norms, streamlining state operations, ending unfunded […]

Taxes in play for 2012 campaigns and 2013 legislative session

In my column this morning, I briefly review some of the trial balloons floated this session by advocates of higher taxes. In addition, I cite three recent studies examining our state’s business tax burden. We’ve written about the business tax research here previously. The three studies are the Tax Foundation’s Location Matters report, TF’s best […]