The Deduction

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Wireless with Strings Attached Oct 18, 2021

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As of 2020, there were more active cell phone and wireless plans in the U.S. than there were Americans—about 448 million, to be precise. The taxes on those plans brought in approximately $11.3 billion and constituted a record 24.96 percent of the cost of an average cell phone bill.
One thing is clear, these increasing taxes aren't being used to fund fewer robocalls, so what are they for?
On this episode of The Deduction, host Jesse Solis and Tax Foundation excise tax expert Ulrik Boesen discuss why wireless taxes are climbing, the places they're the highest, the consumers they impact the most, and how things can be improved.

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Federal Policy is Hard Oct 01, 2021

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Federal policy is hard. Federal health care policy during reconciliation while governing with razor-thin margins is really, really hard. This week, senior economist Erica York joins host Jesse Solis to break down the debate on Capitol Hill over drug pricing. They discuss why this policy found its way into the $3.5 trillion reconciliation package and what the tradeoffs would be of having the federal government set prescription drug prices.

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Taxing Decisions, 2021: Minisode 1 Sep 24, 2021

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The reconciliation process on Capitol Hill is underway. Senior policy analyst Garrett Watson joins host Jesse Solis this week to give an update on where the package stands. The two also talk through recent Tax Foundation modeling of the proposal, which found that the plan may not have the economic boost its proponents have claimed.

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Wake Me Up when Reconciliation Ends Sep 14, 2021

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Reconciliation. One word that drives D.C. crazy, yet has been the way some of Congress’s most monumental bills have become law.
On this episode, host Jesse Solis is joined by federal tax policy experts Erica York and Garrett Watson to discuss why this complex budget process is back in the mix as Congress gears up to advance President Biden’s multi-trillion-dollar tax agenda.

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The One About Crypto Sep 01, 2021

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The quick-moving world of cryptocurrency can be confusing and, at times, comical.
On this episode of The Deduction, join Tax Foundation's Jesse Solis, Garrett Watson, and Alex Muresianu as they dive down the rabbit hole of cryptocurrency taxation.
How should policymakers view crypto in the first place—as an asset, like stocks, or as a currency? How big is the issue of tax evasion in the cryptocurrency market and what can realistically be done to curb it? Is it possible to design a rational tax system around what, at times, can appear to be a less-than-rational market and, if so, what should it look like?
Tune in to find out.
Look Busy by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license (https://creativecommons.org/licenses/by/4.0/).
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100172
Artist: http://incompetech.com/

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Tackling the Tax Gap: What Can Be Achieved? Aug 13, 2021

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Increasing enforcement of existing laws instead of increasing taxes is an appealing way to raise revenue.
But would stronger enforcement have costs for law-abiding taxpayers too?
On this episode of The Deduction, host Jesse Solis and Federal Policy Analyst Alex Muresianu discuss the tax gap, what it is, how the U.S. compares to other countries, and recent proposals aimed at closing it.
They also explore how much revenue could actually be raised through increased tax enforcement, the current challenges the IRS faces, and how stronger enforcement could impact taxpayers at large.

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The State of State Income Taxes Jul 16, 2021

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As final state revenue figures come in for fiscal year 2021, many states are finding they are in a much healthier position than they ever would have anticipated this time last year.
And as a result, a remarkable trend has emerged: so far in 2021, eleven states have responded by reducing income tax rates and making related structural reforms.
On this episode of The Deduction, host Jesse Solis and Senior Policy Analyst Katherine Loughead explore how stronger-than-expected revenues and increased workplace flexibility have led to a wave of reforms aimed at enhancing tax competitiveness in states around the country.

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Semiconducting Tax Policy Jul 06, 2021

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If you've read any headlines in the last few months, you've no doubt heard about the semiconductor shortage gripping global supply chain—and if you've tried to buy anything from a toaster to a car, you've witnessed it firsthand.
But what's really driving today's crisis, can the U.S. manufacture its way out of it, and what role does tax and economic policy have to play in all this?
On this episode of the Deduction, Jesse Solis talks to Tax Foundation Economist Erica York about the complicated world of semiconductor manufacturing and all the ways policymakers should (and shouldn't) respond to today's challenges.

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G7 Agrees to Global Minimum Tax Jun 14, 2021

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One of the hottest topics in the tax world today is the recent announcement by G7 finance ministers that they would support enacting a new, 15 percent global minimum tax.
On this episode of The Deduction, Scott Hodge is joined by Tax Foundation's Daniel Bunn and Elke Asen to discuss this agreement and answer an important question: how much weight does it really carry?
We dive into the economic and political implications of a 15-percent global minimum tax, how such a tax would impact global economies, revenues, and real people, and what the path forward looks like.

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States Consider Digital Taxes Amidst Conflicting Rationales Jun 07, 2021

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Across the U.S., policymakers of both parties have developed a strong interest in taxing large technology companies through digital advertising taxes, social media taxes, and data taxes.
What is notably absent is any consistent rationale for these new proposals.
On this episode of the Deduction, Tax Foundation's Daniel Bunn and Jared Walczak untangle the complex and sometimes contradictory world of state digital taxes.
Learn more about the legal difficulties, administrative challenges, and economic inefficiencies this emerging area of state tax policy faces.

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