Step into the shadows of illicit trade where taxation, incentives, and criminal networks intersect to fuel the lucrative cigarette smuggling market.Adam Hoffer, the Director of Excise Tax Policy, joins Kyle Hulehan to shed light on how substantial price markups on legal cigarettes pave the way for tempting tax avoidance opportunities. They unravel the unintended consequences of cigarette taxation and explore strategies to combat this burgeoning illicit tradeLinks: https://taxfoundation.org/blog/illicit-trade-taxes-counterfeit-cigarettes/https://taxfoundation.org/blog/california-flavored-tobacco-ban-revenue/https://taxfoundation.org/blog/new-york-cigarette-tax-flavor-ban/https://taxfoundation.org/data/all/state/cigarette-taxes-cigarette-smuggling-2022/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

The Inflation Reduction Act is an ambitious law with worthy goals to reduce deficits, fight inflation, help the IRS, and combat climate change. However, one year after its enactment, there are concerns about its overall fiscal impact, the additional complexity it introduces to the tax system, and the sustainability of its initiatives. Will McBride, Vice President of Federal Tax Policy at the Tax Foundation, joins Kyle Hulehan to examine the Inflation Reduction Act one year later. They dive into the disconnect between political aspirations and the real-world consequences of executing intricate policies, the skyrocketing costs of green energy tax credits, and why, despite increased funding, the IRS is struggling to keep up. Links:https://taxfoundation.org/research/all/federal/inflation-reduction-act-taxes/ https://taxfoundation.org/taxedu/podcast/all/accounting-for-the-new-book-minimum-tax/ https://taxfoundation.org/blog/inflation-reduction-act-green-energy-tax-credits/ https://taxfoundation.org/research/all/federal/inflation-reduction-act/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Interest rates and tax policy, two vital components of our economic landscape, often interact in fascinating ways. They influence the behavior of individuals, businesses, and governments. But how exactly? Alan Cole, Senior Economist at the Tax Foundation, joins us to explore the complex effects of interest rate changes. We discuss how these shifts can impact everything, from budget deficits and tax revenues to investment choices and the overall economy. Links:https://taxfoundation.org/tax-reform-bill-interest-rates/https://taxfoundation.org/deficit-interest-rates-and-growth/https://taxfoundation.org/tax-basics/cost-recovery/Follow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodhttps://twitter.com/AlanMColeSupport the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

It’s the 5th anniversary of the groundbreaking Wayfair Supreme Court decision—a ruling that marked a new era of sales tax collection and changed how we think about taxation in the digital age.South Dakota v. Wayfair established a new precedent, allowing states to assert their authority in collecting sales tax from remote sellers based on economic presence.Jared Walczak, Vice President of State Projects, joins Kyle to provide insights into the evolving legal framework surrounding the Wayfair decision and sales tax collection. They discuss potential solutions that could simplify compliance and bring uniformity to online sales tax regulations.Links:https://taxfoundation.org/what-does-the-wayfair-decision-really-mean-for-states-businesses-and-consumers/https://www.supremecourt.gov/opinions/17pdf/17-494_j4el.pdfFollow Us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodhttps://twitter.com/JaredWalczakSupport the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

On this “not-so-heavy-on-the-policy” episode, our much-beloved host, Jesse Solis, is joined by the Deduction's Senior Producer, Dan Carvajal, and Marketing Associate, Kyle Hulehan, to share some bittersweet news.If you follow us on social media, you've undoubtedly come across something Kyle created. He is no stranger to the Tax Foundation, having interned here in 2018 and rejoining full-time last year, and his ever-brimming curiosity will be a welcome new seat at the table.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show