The Myth of the ‘Senior Tax’
The Affordable Care Act (ACA) established a nationwide standard for age-based variations in health insurance premiums. This restriction limited the cost difference between the oldest age categories (64+ years old) and the youngest (21 years old) to a 3:1 ratio.
The Invisible Risk Pool: State Innovation at Work
States are finding innovative solutions to reduce rising premiums. An “invisible risk pool” has proven to be a useful approach.
Weekly Economic Update: April 10 – April 14, 2017
This week's Chart of the Week in the Weekly Economic Update features a look at the declining number of startups in the United States. Startups drive business growth as they traditionally create more jobs per year than existing businesses.
Ten Reasons to Reform the Tax Code: Reason #5
Trapped in a shadow tax system. The Alternative Minimum Tax operates as a parallel tax system that requires Americans to calculate their tax burden under two separate structures.
March 2017 Jobs Review
The Bureau of Labor Statistics (BLS) reports a 98,000 gain in nonfarm payroll jobs, of which 89,000 were in the private sector. The largest job gains came from business and professional services (+56,000), education and health services (+16,000),
Ten Reasons to Reform the Tax Code: Reason #4
Too complex. With over 10 million words of tax law and regulations, it’s no surprise that 90 percent of taxpayers turn to third-party software or a paid preparer to figure out their tax burden.
Ten Reasons to Reform the Tax Code: Reason #3
The opposite of reform. Major tax reform efforts in the Kennedy and Reagan Administrations led to a trend of dramatically lower and fewer tax rates. This continued with the Tax Reform Act of 1986, which consolidated 16 separate tax rates ranging as high as 50 percent into two rates of 15 and 28 perc...
Ten Reasons to Reform the Tax Code: Reason #2
High individual tax rates hit small businesses. The vast majority of small businesses are organized as passthroughs, meaning that the income from the business is taxed on the owner’s individual tax return.
Ten Reasons to Reform the Tax Code: Reason #1
Growth needs a jumpstart. Last year the economy grew by only 1.6 percent, roughly half the average rate since World War II. Unless we change policy course, the Congressional Budget Office projects continued sluggish growth over the foreseeable future.
Weekly Economic Update: April 3 – April 7, 2017
Featuring our Chart of the Week, the Weekly Economic Update gives a recap of the previous week and a preview of the week ahead.
