Nothing so exemplifies the American Dream than the possibility for each family to get ahead and, through hard work and faithful service, advance from generation to generation. Today mobility across generations is threatened by three aspects of current federal policy: a budget for a declining...
Some political leaders have proposed to lower individual income tax rates and make up the lost revenue by eliminating tax preferences. To help inform the discussion of such proposals, we examine illustrative revenue-neutral combinations of lower rates and cuts in tax preferences and their...
Roberton Williams compares the adjusted gross incomes of the top 400 with the incomes of all other taxpayers with income over $1 million and finds that because they realize more capital gains, the top 400 tend to have lower effective income tax rates than other very high-income taxpayers.
Gene Steuerle testifies before the House Subcommittees on Human Resources and Select Revenue Measures on the true marginal tax rates facing low- and moderate-income families. The nations real tax system includes not just the direct statutory rates explicit in the income tax and the Social...
This article develops an alternative post-2012 personal income tax regime, the "Better Base Case." It argues that revenue collections of the same magnitude as those projected by the CBO (i.e., "current law") are necessary over the medium term, but that the efficiency and equity of current law's...
Taxes and transfers at the state and federal level can have a large impact on the well-being of low-income families. How large a role states play varies, as demonstrated by the Urban Institutes recently released Net Income Change Calculator (http://nicc.urban.org...
Stockbrokers began reporting sales proceeds and cost basis to the IRS and taxpayers this year. This article describes how those information reports came about and discusses the issues they raise. It also argues that compliance gains and simplification benefits justify the reporting burdens that...
End the Bush Tax Cuts and Start Over
In a contribution to the CNN.com, Bill Gale discusses Obama's proposal to extend the Bush-era income tax cuts.
Mobility, the Tax System, and Budget for a Declining Nation
Nothing so exemplifies the American Dream than the possibility for each family to get ahead and, through hard work and faithful service, advance from generation to generation. Today mobility across generations is threatened by three aspects of current federal policy: a budget for a declining...
How Hard Is It to Cut Tax Preferences to Pay for Lower Tax Rates?
Some political leaders have proposed to lower individual income tax rates and make up the lost revenue by eliminating tax preferences. To help inform the discussion of such proposals, we examine illustrative revenue-neutral combinations of lower rates and cuts in tax preferences and their...
Income and Taxes of the Very Rich
Roberton Williams compares the adjusted gross incomes of the top 400 with the incomes of all other taxpayers with income over $1 million and finds that because they realize more capital gains, the top 400 tend to have lower effective income tax rates than other very high-income taxpayers.
Marginal Tax Rates, Work, and the Nation's Real Tax System
Gene Steuerle testifies before the House Subcommittees on Human Resources and Select Revenue Measures on the true marginal tax rates facing low- and moderate-income families. The nations real tax system includes not just the direct statutory rates explicit in the income tax and the Social...
The "Tax Expirers"
Donald Marron's testimony before the House Subcommittee on Select Revenue Measures of the Committee on Ways and Means on evaluating tax extenders.
The Better Base Case
This article develops an alternative post-2012 personal income tax regime, the "Better Base Case." It argues that revenue collections of the same magnitude as those projected by the CBO (i.e., "current law") are necessary over the medium term, but that the efficiency and equity of current law's...
State Tax Systems Can Be Important Part of Safety Net
Taxes and transfers at the state and federal level can have a large impact on the well-being of low-income families. How large a role states play varies, as demonstrated by the Urban Institutes recently released Net Income Change Calculator (http://nicc.urban.org...
Inoculate the Budget Deficit from Health Care Reform
In a contribution to Real Clear Markets, Bill Gale discusses health care reform.
Basis Reporting: Lessons Learned and Direction Forward
Stockbrokers began reporting sales proceeds and cost basis to the IRS and taxpayers this year. This article describes how those information reports came about and discusses the issues they raise. It also argues that compliance gains and simplification benefits justify the reporting burdens that...