How are Spain and Greece incorporating #AI into their tax systems? Alexandra Karadima, a senior tax manager, explains. 👇 Check out her full conversation with Robert Goulder here: youtu.be/b0mPNHdym2M

Ryan Day waiting for Lou Holtz

It would be very good if Congress reined in the authority its delegated to the executive branch over tariffs.

"There you have it: The patron saint of conservative economics thought high tariffs are for chumps," Robert Goulder writes. Perspective: Robert Goulder considers what it will take for Congress to reclaim its tariff authority from the executive branch. taxnotes.co/3Zo5KqX

the biggest difference is that taking tariffs higher invites retaliation while taking income tax rates higher does not

Still at it! finally managed to read the European Semester docs. every year, they contain interesting data on taxation gender bias, which is coincidentally the subject of the first hearing of FISC Committee Press in January taxnotes.com/tax-notes-toda…

“Michigan threw for 75 yards and beat Alabama. That’s gotta be a record” Ohio State fans:

The final section 45V hydrogen rules are out: public-inspection.federalregister.gov/2024-31513.pdf Analysis to follow in Tax Notes!

You can’t pay down the debt when you’re running huge deficits and increasing them with deficit-financed tax cuts—you’re running up the debt!

Tax Notes contributing editor and historian Joe Thorndike discusses President Trump’s referral to “the forgotten man” and how the phrase connects to a conservative case for taxing the rich. 👇 forbes.com/sites/taxnotes…

In his latest #TaxHistory perspective, Joe Thorndike examines the similarities between how Richard Nixon wielded the power of tariffs and how President Trump is implementing them. taxnotes.co/3Frci1H

Join us in 30 MINUTES for a panel discussion on President Trump’s tariffs and the ripple effects on tax policy with Ernie Tedeschi, Erica York, Kyle Pomerleau, and Ryan Finley!  📍 Salon 15, level M2

He might be surprised to learn that his import tax hikes increase taxes by a larger share of GDP than Bush's tax increase did.

"If your brain can conceptualize how a historically massive tax hike can simultaneously be spun as a popular tax cut, I applaud your cognitive flexibility," Robert Goulder writes. forbes.com/sites/taxnotes…

"On balance it seems unlikely that Reagan would have supported Trump’s tariff policies," Joe Thorndike writes. "And it seems more than likely that he would have been suspicious of Trump himself." forbes.com/sites/taxnotes…

And so this is clear: This occurs regardless of what happens to prices. If prices rise, but nominal incomes and revenues are unchanged, *real* income and payroll tax revenue falls.

Here we have tylercowen making what is now a very common error. Tariffs are not a consumption-based tax. These taxes apply to capital inputs in ways that are *more distortive* than existing capital taxes.

You'll never guess who is *actually* paying for the tariffs.

Refusal to acknowledge reality doesn’t alter reality.