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Topic:   Individual Alternative Minimum Tax

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Evaluating Broad-Based Approaches for Limiting Tax Expenditures (Research Report)
Eric ToderJoseph RosenbergAmanda Eng

This paper evaluates six options to achieve across-the-board reductions to a group of major exclusions and deductions in the income tax: (1) limiting their tax benefit to a maximum percentage of income; (2) imposing a fixed dollar cap; (3) reducing them by a fixed-percentage amount; (4) limiting their tax saving to a maximum percentage of their dollar value; (5) replacing preferences with fixed rate refundable credits; and (6) including them in the base of the existing Alternative Minimum Tax (AMT). We discuss issues of design, implementation, and administration, and simulate the revenue, distributional, and incentive effects of the various options.

Published: 02/06/14
Availability:   PDF


Evaluating Broad-Based Approaches for Limiting Tax Expenditures (Research Report)
Eric ToderJoseph RosenbergAmanda Eng

This paper evaluates six options to achieve across-the-board reductions to a group of major exclusions and deductions in the income tax: (1) limiting their tax benefit to a maximum percentage of income, (2) imposing a fixed dollar cap, (3) reducing them by fixed-percentage amount, (4) limiting their tax saving to a maximum percentage of their dollar value, (5) replacing them with fixed rate refundable credits, and (6) including them in the base of the existing Alternative Minimum Tax (AMT). We discuss issues of design, implementation, and administration, and simulate the revenue, distributional, and incentive effects of the various options.

Published: 07/10/13
Availability:   PDF


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
Availability:   PDF


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
Availability: HTML


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
Availability: HTML


Who Itemizes Deductions? (Article/Tax Facts)
Daniel BanemanBenjamin H. Harris

Many taxpayers can lower their taxable income by itemizing deductions, which in turn lowers tax liability. Itemized deductions reduce tax burdens for taxpayers with decreased ability to pay taxes, such as those experiencing a catastrophic loss, or for taxpayers who spent funds on activities the tax code deems worthwhile, such as contributing to charity. In recent years, the largest itemized deductions were those for mortgage interest paid, state and local taxes paid, and charitable contributions.

Published: 01/20/11
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The Future of Individual Tax Rates: Effects on Growth and Distribution: Donald Marron's Testimony Before the Senate Committee on Finance (Testimony)
Donald Marron

Donald Marron's testimony before the Senate Committee on Finance on the individual tax system.

Published: 07/14/10
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The Future of Individual Tax Rates: Effects of Economic Growth and Distribution: Leonard Burman's Testimony before the Senate Committee on Finance (Testimony)
Leonard E. Burman

Leonard Burman's testimony before the Senate Committee on Finance on whether and how to extend the 2001 and 2003 tax cuts.

Published: 07/14/10
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Preliminary Revenue Estimates and Distributional Analysis of the Tax Provisions in the Bipartisan Tax Fairness and Simplification Act of 2010 (Research Report)
Jim NunnsJeff Rohaly

The Bipartisan Tax Fairness and Simplification Act of 2010 ("Wyden-Gregg," introduced as S. 3018) is a broad reform of the federal income tax system. Some provisions would also expand the Social Security payroll tax base. This paper presents the Tax Policy Center's estimates of the revenue and distributional effects of the income and payroll tax provisions in Wyden-Gregg.

Published: 05/24/10
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Held Harmless by Higher Income Tax Rates? (Article/Tax Facts)
Rachel M. JohnsonEric Toder

In 2010, 45 percent of tax returns will either remit no federal income tax or receive a net tax refund. But this figure overstates the share of taxpayers who would be unaffected by higher income tax rates. Raising all rates by 1 percent would hold only 34 percent of tax returns harmless; others would either pay higher taxes or receive smaller net rebates.

Published: 03/04/10
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