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Publications by Topic
Topic:
Distribution of Taxes and Income
Top Individual Income Tax Rates: How Does the U.S. Compare? (Article/Tax Facts)
Jim Nunns
Discussions of the effect of taxes on international competitiveness usually focus on corporate income tax rates, but individual income tax rates may also affect a country’s (or state’s) ability to compete for workers.
Published: 04/03/13
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Carbon Taxes and Corporate Tax Reform (Research Report)
Donald Marron , Eric Toder
The revenues from a carbon tax could help finance lower corporate tax rates, extending business tax preferences, or other corporate tax reforms. Such a tax swap would reduce the environmental risks of carbon emissions and improve the efficiency of America’s corporate tax system. But it would also pose a significant distributional challenge. A carbon tax would fall disproportionately on low-income families, while corporate tax cuts would disproportionately benefit those with high incomes. Policymakers may want to use some revenue to offset those impacts. They may also want to use some carbon revenues for deficit reduction.
Published: 02/11/13
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Tax Provisions in the American Taxpayer Relief Act of 2012 (ATRA) (Research Report)
Jim Nunns , Jeff Rohaly
The fiscal cliff debate culminated in the passage of the American Taxpayer Relief Act of 2012 (ATRA). ATRA makes permanent most of the tax cuts enacted in 2001 and 2003, permanently patches the alternative minimum tax, extends for five years the enhancements to individual income tax credits originally enacted in the 2009 stimulus legislation, and temporarily extends certain other tax provisions. This paper provides a detailed description of the individual, corporate, and estate tax provisions in ATRA.
Published: 01/09/13
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Taxing the Wealthiest Could Go a Long Way (Commentary)
William G. Gale
In a contribution to The New York Times' Room for Debate, Bill Gale responds to the question: can policy makers make a dent in the deficit without affecting the majority of taxpayers?
Published: 12/05/12
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Why We May Have to go Over the Fiscal Cliff (Commentary)
William G. Gale
In a contribution to USA Today, Bill Gale asserts that going over the cliff might be the only way to stimulate the economy and implement gradual, balanced fiscal consolidation over the next decade.
Published: 11/30/12
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TPC's Analysis of Governor Romney's Tax Proposals: A Follow-up Discussion (Research Report)
Samuel Brown , William G. Gale , Adam Looney
Tax reform ideas played an important role in the recent Presidential election. Republican candidate Mitt Romney proposed large tax cuts and other changes that he said could be part of a revenue-neutral tax reform that also retained low rates on savings and investment and would not raise taxes on the middle class. In an earlier analysis, we showed that it was not possible to achieve all of Romney’s stated goals simultaneously. This paper reviews that analysis and critiques several responses to our analysis. Legislating realistic tax reform will require recognition of the difficult trade-offs among these competing goals.
Published: 11/07/12
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Toppling Off the Fiscal Cliff: Whose Taxes Rise and How Much? (Research Report)
Roberton Williams , Eric Toder , Donald Marron , Hang Nguyen
The looming fiscal cliff threatens to boost taxes by more than $500 billion in 2013 when many temporary tax provisions are scheduled to expire. Nearly 90 percent of Americans would pay more tax, primarily because the temporary cut in Social Security taxes and many of the 2001/2003 tax cuts would expire. Low-income households would pay more due to expiration of tax credits in the 2009 stimulus. High-income households would be hit hard by higher tax rates on ordinary income, capital gains, and dividends and by the new health reform taxes. And marginal tax rates would rise, potentially affecting economic decisions.
Published: 10/01/12
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Five Myths About the 47 Percent (Commentary)
William G. Gale , Donald Marron
As Mitt Romney recently noted, about 47 percent of U.S. households do not pay federal income taxes. Some see this as evidence of a welfare state run amok. Others think that gimmicks and loopholes let both rich and poor Americans duck their taxes. This commentary corrects some misconceptions about this group, now colloquially called the 47 percent.
Published: 09/25/12
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