This week's IGM Economic Experts Panel statement:
The “Cadillac tax” on expensive employer-provided health insurance plans will reduce costly distortions in US health care if it is allowed to take effect as scheduled in 2018.
Keyword: tax incentives
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This week’s IGM Economic Experts Panel statements:
A) Giving tax incentives to specific firms to locate operations in a city or state typically generates local benefits that outweigh the costs to the city and/or state providing the incentives.
B) The US as a whole benefits when cities or states compete with each other by giving tax incentives to firms to locate operations in their jurisdictions.
This week’s IGM Economic Experts Panel statements:
A) Changing federal income tax rates, or the income bases to which those rates apply, can affect federal tax revenues partly by altering people’s behavior, and thus their actual or reported incomes.
B) To the extent that a given tax change might affect revenues partly by affecting national-income growth, existing research provides enough guidance to generate informative bounds on the size of any growth-driven revenue effect.
C) For large proposed changes in tax rates or the tax base, official revenue forecasts provided to Congress would probably be more accurate if the CBO and JCT tried to estimate fully how the proposed tax changes would affect growth-driven revenue.
This week’s IGM Economic Experts Panel statements:
A) Lowering the effective marginal tax rate on US corporations’ repatriated profits for a year would boost US capital investment significantly.
B) Permanently lowering the effective marginal tax rate on US corporations’ repatriated profits, such as by moving to a territorial-based tax system, would boost US capital investment significantly.
This week’s IGM Economic Experts Panel statement:
Reducing the income-tax deductibility of charitable gifts is a less distortionary way to raise new revenue than raising the same amount of revenue through a proportional increase in all marginal tax rates.
This week’s IGM Economic Experts Panel statement:
The federal government would make the average U.S. citizen better off by using policies that directly focus more on increasing small business growth than growth of economic output overall.
This week’s IGM Economic Experts Panel statements:
A: The U.S government should make further efforts to shrink the size of the country's largest banks — such as by capping the size of their liabilities or penalizing large banks more heavily through taxes or other means — because the existing regulations do not require the biggest banks to internalize enough of the "too-big-to-fail" risks that they pose.
B: The economic benefits to the U.S. of having a handful of banks with balance sheets greater than $1 trillion are small.
This week’s IGM Economic Experts Panel statements:
A: The federal government would make the average U.S. citizen better off by using policies that directly focus more on increasing manufacturing employment than employment in other sectors.
B: Because firms and inventors do not capture the full returns from research and development, the government would increase the average well-being of Americans (and potentially of others too) by favoring R&D using the tax code.
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