Cryptocurrency Is Primarily An Investment, Not Money. It Should Be Taxed That Way

Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ) have proposed exempting cryptocurrency transactions of $50 or less from capital gains taxes. While it seems like a modest tax change, it could have profound effects on how the crypto is perceived and used. And it would give crypto a tax advantage over other investments. Like many … Read more

Can Machine Learning Improve Tax Enforcement Without Human Teachers?

When it comes to tax enforcement, I used to believe the Internal Revenue Service could never have too much information. But the agency already collects an incredible amount of information that it underuses or does not use at all. Blame decade-long budget cuts, decades-long underinvestment in technology, and an overly complex tax code. Last year, … Read more

Let the Child Tax Credit Work

Congress has a chance to reduce child poverty by about one-third by making permanent the Child Tax Credit (CTC) that was in effect during 2021. Evidence suggests that the benefits of doing so would far outweigh the costs. Last year, the American Rescue Plan expanded the CTC, paid it monthly, and made it fully refundable, … Read more

Taxes, Religion, And Education: How Much Are We Willing to Pay for Choice?

In 1976, my first-grade public school teacher in Kansas led our class in the Pledge of Allegiance each morning. She followed it with a recitation of The Lord’s Prayer. (I didn’t know the words and mumbled along as best I could.) In 1983, I shared that experience with my eighth-grade social studies teacher in Wisconsin. … Read more

Beyer’s Steep Gun Tax Might Curb Some Very Lethal Weapons, But It Has Gaps

In response to two recent mass shootings, Representative Don Beyer (R-VA) introduced a bill that would impose a 1,000 percent excise tax on certain guns. The Washington Post reports that Beyer hopes to include it in a larger budget reconciliation bill, which would allow it to pass the Senate with a simple majority. The bill … Read more