The Tax Foundation’s Ten principles of sound tax policy are a must-read for those influencing tax policy. I think the list can be further refined down to about half that, but maybe they wanted to get an even ten. For instance, maintaining the neutrality of the system (#2) will result in broad bases (#3). It’sContinue reading “Ten principles of sound tax policy”
Tag Archives: sales tax
New Jersey legislates tax on iTunes downloads
New Jersey residents have been hit by their government with a 7% tax on iTunes downloads (as well as other music download services such as Napster) this past week. The sales tax overall was raised from 6 to 7% in order to help the state fight their $4.5-billion deficit. Many are speculating that other statesContinue reading “New Jersey legislates tax on iTunes downloads”
Bank of Canada chief pushes smarter provincial sales tax
David Dodge, the governor of the Bank of Canada and the current architect of our monetary policy, suggested the province of Ontario should revamp the provincial sales tax (PST) to more closely resemble the value-added federal GST in a rare appearance before the Commons industry committee. The suggestion is a solid one, as it wouldContinue reading “Bank of Canada chief pushes smarter provincial sales tax”