The Deduction

Business & Economics Podcasts

The Deduction is your independent guide to the complicated world of tax and economics. From the impacts of tariffs and trade wars to debates over who pays and how much, each episode, our experts untangle another aspect of the tax code. Listen to the leading tax podcast!

Location:

United States

Description:

The Deduction is your independent guide to the complicated world of tax and economics. From the impacts of tariffs and trade wars to debates over who pays and how much, each episode, our experts untangle another aspect of the tax code. Listen to the leading tax podcast!

Language:

English

Contact:

202-441-8088


Episodes

Wealth Taxes Reach the States

1/26/2023
Since 2021, 43 states have provided substantial tax relief for taxpayers and businesses. But this year, a new trend has emerged in the opposite direction: a push for states to tax investment. From coordinated wealth tax proposals to higher capital gains income taxes, some state legislatures are going after high earners. Jared Walczak, V.P. of State Projects at the Tax Foundation, joins Jesse to discuss how these measures would affect investment, job creation, and migration between...

Duration:00:24:55

New Year, New Taxes

1/12/2023
It’s a new year. And if one thing is certain, it’s that businesses are facing a lot of uncertainty. Key parts of the Inflation Reduction Act of 2022 are kicking into effect, including the new book minimum tax. Erica York, senior economist at the Tax Foundation, joins Jesse to discuss why this policy came into the fold. They discuss if this tax will really stop companies from paying zero in taxes, as the president claims, if the new Republican House will revisit this debate, and what the...

Duration:00:18:29

All I Want for Christmas is EU: Understanding Tax Policy in Brussels

12/20/2022
When it comes to international economic competition, people often frame the argument as the U.S. versus China. But across the Atlantic, nation-states in the European Union have been working hard to show the world that they deserve to be considered an economic force. Rising up to this challenge for the EU is easier said than done. Sean Bray, EU policy analyst at the Tax Foundation, joins Jesse to talk through the EU's challenges--and potential--when it comes to tax and economic...

Duration:00:35:04

Meet Daniel Bunn (again), Tax Foundation's New President & CEO

12/1/2022
Tax Foundation recently announced that Daniel Bunn is our new president and CEO. In this special episode of The Deduction¸ Daniel chats with Jesse about how he got into tax policy. They discuss his time in the Senate, his plans for Tax Foundation’s future, and even his obsession with smoking meats. Links: https://taxfoundation.org/staff/daniel-bunn/ https://twitter.com/danieldbunn https://www.linkedin.com/in/danielbunn Support the show

Duration:00:26:25

Post-Election Breakdown

11/17/2022
The 2022 midterm elections are wrapping up, and taxpayers are looking at a divided Congress for the next two years. Senior Policy Analyst Garrett Watson sits down with Jesse at Tax Foundation's headquarters to give a quick analysis of what these elections mean for tax policy. They talk through what we can expect from the approaching "lame-duck" session, what a Republican House and Democrat Senate could find agreement on, and what priorities the upcoming Congress should focus...

Duration:00:20:30

The UK’s Tax Battles, Part One: How We Got Here

10/18/2022
If you’ve been following taxes closely these past few months, you know that the UK is currently undergoing a drastic change. This episode of The Deduction is part one in our ongoing coverage of the UK’s tax battles. Jesse chats with Tom Clougherty, research director and head of tax at the Centre for Policy Studies in London. Tom talks us through what all went down in the UK this fall: from the leadership elections to the countless U-turns the new prime minister has made to try and reform...

Duration:00:35:42

The Woes of Temporary Tax Policy

9/29/2022
From the Tax Cuts and Jobs Act in 2017 to the Inflation Reduction Act signed into law just this summer, lawmakers across the political spectrum are often tempted to implement temporary tax reforms. But is this how tax policy should be done? Garrett Watson joins Jesse to discuss the pros and cons of writing tax laws that have an end date and why we find ourselves having a debate at the end of each year about so many temporary...

Duration:00:20:34

Unpacking the State and Local Tax Toolkit

9/15/2022
Maine has blueberry taxes. Alabama has mosquito taxes. Each state and county has its tax quirks. But when state and local governments want to raise revenues, there are four key taxes they turn to. Depending on where you live, the differences in these taxes between states can be significant. Katherine Loughead, senior policy analyst, joins Jesse Solis to discuss trends we are currently seeing in state and local taxes and to break down how stable these revenue sources are for the places we...

Duration:00:24:10

Accounting for the New Book Minimum Tax

9/1/2022
The Inflation Reduction Act, signed into law recently by President Biden, includes a book minimum tax, which is raising the eyebrows of accountants everywhere. This new policy–a 15 percent tax applied to the financial statement income that companies report to their investors–is one of the law’s largest revenue raisers and joins plenty of other “minimum” taxes for multinational corporations, including GILTI and the OECD global minimum tax. Scott Dyreng, a professor of accounting at Duke...

Duration:00:32:34

IRS Funding and Technology

8/17/2022
The Internal Revenue Service (IRS) finds itself under fire often. Outdated technology, millions of unanswered calls, and cafeterias full of paper returns--it's clear that America’s tax collector needs improvement. In the same way that technology has helped shape the tax policy debate, tech also has a role to play in advancing tax administration. Jesse is joined by Courtney Kay-Decker and Jared Ballew, chair and vice chair (respectively) of the Electronic Tax Administration Advisory...

Duration:00:35:36

House Votes on the Inflation Reduction Act

8/12/2022
The House of Representatives is set to pass the Inflation Reduction Act, the latest iteration of President Biden’s tax and climate agenda. The road to get to this final package has been anything but easy--with congressional Democrats drastically scaling back the initial $3 trillion Build Back Better agenda. Garrett Watson joins Jesse to discuss what sacrifices were made by key lawmakers to bring this bill to the finish line. They also look at what the economic impact of this proposal would...

Duration:00:13:46

The Inflation Reduction Act, What to Know

8/2/2022
After months of stalled negotiations, Sen. Joe Manchin (D-WV) announced that he has reached a deal with Senate Democrat leadership on a reconciliation package. Called the Inflation Reduction Act, the legislation would raise taxes on corporations and top earners with the goal of funding a number of programs to reduce carbon emissions, address prescription drug costs, and spur the economy. Garrett Watson joins Jesse Solis to talk through what these tax changes would mean for the economy:...

Duration:00:19:13

Technology and Taxes

7/27/2022
Technology is moving rapidly--especially when it comes to taxes. With advancements in AI and machine learning, we are seeing technology being utilized in every corner of the tax world. From policy to filing, from accounting to compliance: technology is truly shaping the future of taxes. Jesse chats with Ben Alarie, CEO of Blue J, and Garrett Watson, Senior Policy Analyst at the Tax Foundation, about how companies are utilizing technology to comply with new innovations in the tax code and...

Duration:00:31:02

Global Deal or No Deal

7/7/2022
On July 1st, 2021, over 130 countries agreed to a sweeping overhaul of the global tax system. This agreement -- on a 15% global minimum tax -- was unprecedented, taking on over a century of how international tax competition has been done. One year later, the deal appears stuck. Countries are moving ahead with caution before codifying this new tax into their laws. Daniel Bunn, Tax Foundation's executive vice president, joins Jesse to discuss what this delay means for countries and...

Duration:00:19:08

Windfall Profits Taxes?

6/28/2022
Oil prices have skyrocketed, posing a new risk to the post-pandemic recovery. Feeling the pressure to respond, policymakers have proposed everything from gas tax holidays, tapping into strategic reserves, and even rebate cards. One idea that has crawled back from the dead: “Windfall Profits Taxes.” This idea is seemingly simple: legislation targeted at the “excess” profits of oil companies. However, as with anything in tax policy, the reality is much more complicated. But why exactly have...

Duration:00:13:38

Clean Up on the Grocery Tax Aisle

6/9/2022
Amidst soaring inflation, policymakers across the political spectrum proposed many ideas to soften the blow of higher prices—especially for low-income workers and families. One idea that caught on quickly: sales tax relief on groceries. The idea had its merits, but Tax Foundation research shows that it may have missed the mark. Tax Foundation Vice President of State Projects Jared Walczak joins Jesse Solis to discuss how grocery sales tax relief became a popular idea, and why it is so hard...

Duration:00:19:21

Pondering Property Taxes

5/26/2022
Property taxes are one of the most substantial tax burdens businesses face. In 2020 alone, property taxes accounted for almost 38 percent of all taxes paid by businesses to state and local governments. These taxes are highly unpopular and can get extremely confusing. But when done right, property taxes can actually be quite good. Janelle Fritts, a state tax policy analyst, joins Jesse Solis to talk through what a well structured property tax should look like, which states have good property...

Duration:00:16:51

Clearing up Carbon Taxes

5/12/2022
Amidst bipartisan climate negotiations on Capitol Hill, there have been renewed calls for a carbon tax. Carbon taxes have long been magnets for political controversy. But from an economic standpoint, they deserve to be taken seriously. Federal policy analyst Alex Muresianu joins Jesse Solis this week to talk through the history of climate tax policy, how a pro-growth carbon tax could be designed, and what its chances in DC actually are as the climate crisis worsens. Support the show

Duration:00:20:52

States' Taxes Go Flat

4/28/2022
Episode Description: State lawmakers have been on the move this year. One major trend that has been taking place? A push for flat taxes. In more than 100 years of state income taxes, only four states have ever moved from a graduated-rate income tax to a flat tax. Another four may adopt flat tax legislation just this year. Jared Walczak, vice president for state projects, joins Jesse Solis this week to discuss what flat taxes are, what they mean for taxpayers, and why so many states are...

Duration:00:17:28

Biden’s Budget Battle

3/31/2022
President Biden this week released his annual budget. In a letter to lawmakers, the 46th President said that this $5.8 trillion package would “[grow] our economy, while ensuring that the wealthiest Americans and the biggest corporations begin to pay their fair share.” This week, Garrett Watson joins Jesse Solis to break down what the President is proposing for this upcoming fiscal year. Garrett discusses what the budget could actually means for the policy debate in D.C., as well as what its...

Duration:00:18:49