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.
Keyword: US states
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This week's IGM Economic Experts Panel statement:
A US city hosting a big convention will enjoy a higher boost to incremental spending — holding the number of visitors and their average incomes fixed — if those visitors are auto dealers rather than economists.
This week’s IGM Economic Experts Panel statements:
A: By discounting pension liabilities at high interest rates under government accounting standards, many U.S. state and local governments understate their pension liabilities and the costs of providing pensions to public-sector workers. (The experts panel previously voted on this question on October 1, 2012. Those earlier results can be found here.)
B: During the next two decades some U.S. states, unless they substantially increase taxes, cut spending, and/or change public-sector pensions, will require a combination of severe austerity budgets, a federal bailout, and/or default. (The experts panel previously voted on this question on October 1, 2012. Those earlier results can be found here.)
This week’s IGM Economic Experts Panel statements:
A: By discounting pension liabilities at high interest rates under government accounting standards, many U.S. state and local governments understate their pension liabilities and the costs of providing pensions to public-sector workers.
B: During the next two decades some U.S. states, unless they substantially increase taxes, cut spending, and/or change public-sector pensions, will require a combination of severe austerity budgets, a federal bailout, and/or default.
This week’s IGM Economic Experts Panel statement:
Subjecting online sales from out-of-state vendors to the same retail sales taxes imposed on in-state sales would raise more tax revenue in the states making this change while reducing the pro-online bias of current policy.
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