News

With the successful IPO of SpaceX on June 12, 2026 (stardate -357211.03), it is time that academics and policymakers begin considering the final frontier of tax: space.

For the past decade, big multinationals have told tax authorities privately how much profit they booked and tax they paid in each country. Now, thanks to a European Union directive, the rest of us will get to see some of that same information too. This article walks through what these reports do and don’t disclose.

Large U.S. multinationals operating in the European Union (EU) are, for the first time, publicly providing a country-by-country breakdown of where they book profits, pay taxes, and employ people. The EU’s public country-by-country reporting (CbCR) directive requires in-scope multinational groups to break out key financial information for each EU member state, with an aggregated figure for operations outside the bloc (along with separate disclosures for any country on the EU’s list of tax havens).

This article analyzes the shortcomings of corporate AMT, which imposes a minimum tax of 15 percent on financial accounting profits for large corporations whose liabilities under the regular corporate tax system fall below that threshold.

As calls grow to tax AI “compute,” this piece considers how it could actually be measured. It weighs taxes on tokens and processing power against their limitations and proposes a tax on electricity used by AI-focused data centers as an alternative.

With pump prices rising, a federal gas tax suspension has been proposed. This piece explains why economic research suggests tax cuts are not always passed through fully to consumers, and why relief may be smaller and more uneven than expected.

A response to the claim that no one can truly “earn” a billion dollars. Using examples ranging from entertainers to Amazon, this piece argues that many large fortunes reflect value created through voluntary exchange, while leaving questions of tax policy open.