Tax Policy Center

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Expert

William G. Gale

Codirector

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Research report

The new budget projections released by the Congressional Budget Office (2005) provide an opportunity to assess fiscal policy in the first four years of the Bush administration and to discuss prospects for the next four years and beyond. This report examines the baseline CBO projections, adjusts...

February 14, 2005
William G. Gale, Peter Orszag
Research report

The tax fact shows how the 2001 and 2003 tax acts changed marginal tax rates for taxpayers in different income groups.

February 14, 2005
William G. Gale
Research report

Proposals to replace part of Social Security with individual accounts are now a focus of attention, with the President expressing a strong desire to push forward on creating individual accounts within Social Security. This paper considers the appropriate budgetary treatment of proposals to...

January 24, 2005
William G. Gale, Jason Furman, Peter Orszag
Research report

This is the eighth and final installment in a series that evaluates tax policy in the Bush Administration, covering the years 2001 to 2004. The paper summarizes our principal findings, and discusses some of the key tax and fiscal issues facing the Administration in its second term.

November 29, 2004
Peter Orszag, William G. Gale
Research report

This paper examines links between the Bush Administration's tax cuts and the goal of "starving the beast"--that is, holding down government spending. It is at best unclear whether tax cuts are effective in restraining spending. The data appear more consistent with the view that once fiscal...

November 15, 2004
William G. Gale, Peter Orszag
Research report

Bush Administration tax policy has sometimes been defended as a piecemeal approach to fundamental reform. Consistent with fundamental reform, the tax cuts reduced marginal capital income tax rates and flattened rates. But the similarities end there. A well designed consumption tax would (a) be...

November 8, 2004
William G. Gale, Peter Orszag
Research report

This paper examines the effects of recent tax cuts as a short-term economic stimulus. The passage of the tax cuts was well-timed to offset economic downturns, but several elements of the structure of the tax cuts were poorly designed to provide short-term stimulus. For example, the tax cuts were...

November 1, 2004
William G. Gale, Peter Orszag
Research report

Tax policy can raise growth in the long run increasing the level and improving the allocation of labor and capital inputs. The net effect of the recent tax cuts on growth is theoretically uncertain and is the net effect of (a) the generally positive effects induced by lower marginal tax rates, (...

October 18, 2004
Peter Orszag, William G. Gale
Research report

This paper is the first of a series that summarizes and analyzes these policies and proposals. The series has two broad goals: to describe, interpret, and assess what has happened; and to examine the consequences of making the tax cuts permanent. This paper provides background information...

September 13, 2004
William G. Gale, Peter Orszag

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