John Nothdurft's Page

More hindrances on investment and entrepreneurship are being found in the Senate’s tax extenders bill. While the debate has mainly focused on closing the so-called “carried interest” loophole little attention has been given to some of the other provisions that could also impede investments.One provision being called an “enterprise value tax” would subject many investment firms if sold to huge income tax…See More

Columnist Greg Sellnow, editorial page editor for the Post-Bulletin (MN) wrote an funny but scary column about the increasing use of “sin” taxes by politicians. He writes, “Are lawmakers taxing these things because they're really concerned about our health, or are they just looking for budget deficit fixes they figure the public won't oppose because they're supposed to make us healthier.If the folks who represent us in…See More

Over the last couple weeks there has been a frightening amount of talk about a possible value-added tax coming to the U.S. It all started a few weeks ago when White House adviser Paul Volcker speaking to the New York Historical Society resurrected the idea of implementing a VAT by stating that it "was not as toxic an idea" as it has been in the past. As I noted in my Op-ed published in the Pueblo…See More

Democrats in New Jersey want to extend the "temporary" surcharge on high-income earners, a move that would further hurt the state's economy and defer the very reforms needed to put the state back on solid fiscal ground. Tax policy such as this that drives capital (an essential ingredient for economic growth) out of the private sector and even out of the state should be avoided.There has already been evidence in New Jersey that this “soak the rich” strategy is driving wealthier people from the…See More

Governor Phil Bredesen’s tax hike proposals certainly are “creative” but they would also be harmful to both families and the economy. The Tennessean had an article recently on the Governor’s onerous tax hike ideas. “Although Gov. Phil Bredesen's budget proposal doesn't have any mention of increasing the state's top revenue stream — sales taxes — he's…See More

Alan Essig, the executive director of the Liberal Georgia Budget & Policy Institute outlines his approach to fixing Georgia’s budget deficit in an Atlanta Journal-Constitution op-ed, “Don’t ignore revenue in fiscal crisis.” In it he wrongly suggests that raising tax on items such as tobacco, broadening the sales tax, or soaking the “rich” will fix the state’s budget problems with…See More

Governor Jennifer Granholm’s annual budget unveiling over the years has become about as enjoyable as banging one’s head against a concrete wall. Her approach of staying the course from years past will further hurt the state’s fiscal position and economy. Facing a $1.7 billion budget deficit she has proposed a mish-mash of tax hikes, tax swaps, and “fees,” while offering few if any actual reforms to rein in spending.Michigan will continue to face record high unemployment and recurring budget…See More