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A total of $80 billion in additional taxes were levied by the Trump administration in numerous rounds of tariffs on $380 billion worth of goods (based on 2018 values), including solar panels, washing machines, and thousands of products from China. Other nations retaliated by introducing their own retaliatory levies. Except for limited exemptions or modifications to some steel and aluminum tariffs, as well as washing machine and solar panel levies, the Biden administration has mostly kept the tariffs in place.

The Joint Committee on Taxation (JCT) looked at the impact of adopting the OECD's Pillar Two in a recently report. The analysis looks at the current law for multinational enterprises (MNEs), explains how the Pillar Two deal works, and gives JCT's opinion on how the deal might affect government revenue.

The federal tax code is still a major source of anger and debate among Americans and a barrier to economic growth and opportunity. Other countries, like Estonia, have shown that taxes can be collected in a less stressful and more effective way and still bring in enough money.

A billion here and a billion there adds up to real money. When it comes to Fed losses, we are now talking about real money.

No one, let alone the government, is in a good position to know what the long-term effects of a potentially disruptive innovation will be.

The government can't keep up with its latest spending spree. Even though Democrats run Maine's government, it still finds ways to save money. Washington should pay attention to this.

These days, the Fed and Chairman Jerome Powell are claiming the title of 'inflation fighters.' The more appropriate moniker should be 'inflationists.'

The Fed is insolvent, and that means that it will bail itself out by printing money. For ordinary people, that means inflation and a rising cost of living.

So, recession it is, right? Not so fast.

Federal tax revenues are approaching the highest levels in U.S. history, which were reached during World War II and again during the dot-com boom of 2000. In FY 2022, federal spending hit 25% of GDP, a level only surpassed during the height of the pandemic in 2020 and 2021 and World War II.