School districts in 37 states are "independent" and able to generate their own revenues, usually by setting property tax rates. Some school districts in other states are dependent on cities, towns or counties for funding authority. In addition, school districts have increasingly been dependent...
In recent decades, economists have acquired great weight in debates over incentives. When it comes to examining the effect of policy incentives on behavior, the theory is relatively straightforward. However, many factors, especially non-financial, have been ignored for sometimes very legitimate...
The largest individual AMT preference items in 2002 were state and local taxes (51 percent of all AMT preference items), personal exemptions (22 percent), and miscellaneous itemized deductions, including employee expenses and legal fees (20 percent).
The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) and later the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) decreased marginal tax rates for four person families with earnings at half the median income and twice the median income. Neither piece of legislation changed the...
Individual giving to public charities-most of which comes in the form of charitable deductions from tax filers who itemize on their returns-actually comprises only a small part of charities gross receipts each year: between 8 and 12 percent of gross receipts over the 1996-2003 period.
This report describes the Roth 401(k) and discusses its potential effects. We find that the Roth 401(k) option will add complexity for employees and employers with little collateral social gain. The Roth 401(k) is unlikely to induce significant new private saving; almost all of the benefits are...
The White House says lowering taxes on capital gains and dividends will create jobs and opportunity. Tax analyst and commentator Len Burman thinks not.
This report summarizes the two options for reforming the tax system proposed by the President's Advisory Panel on Federal Tax Reform, offers a preliminary evaluation of the proposals, and discusses the overall effect on revenue, distribution, and growth.
Rising house prices have led to increasing property taxes and to calls for property tax reform. However, it is important to realize that many state and local governments currently offer property tax relief programs. We examine the property tax relief programs offered through state income tax...
Claims that increasing capital gains tax rates will adversely impact stock markets and economic growth are not strongly supported by empirical data. Over the last half-century, the correlation between the maximum capital gains tax rate and the ratio of the S&P index to GDP has been about -0....
Education Spending and Changing Revenue Sources
School districts in 37 states are "independent" and able to generate their own revenues, usually by setting property tax rates. Some school districts in other states are dependent on cities, towns or counties for funding authority. In addition, school districts have increasingly been dependent...
Do Incentives Affect Behavior? Would an Economist Know?
In recent decades, economists have acquired great weight in debates over incentives. When it comes to examining the effect of policy incentives on behavior, the theory is relatively straightforward. However, many factors, especially non-financial, have been ignored for sometimes very legitimate...
AMT Preference Items, 2002
The largest individual AMT preference items in 2002 were state and local taxes (51 percent of all AMT preference items), personal exemptions (22 percent), and miscellaneous itemized deductions, including employee expenses and legal fees (20 percent).
Marginal Tax Rates, 1955-2005
The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) and later the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) decreased marginal tax rates for four person families with earnings at half the median income and twice the median income. Neither piece of legislation changed the...
Individual Giving Compared To Charitable Gross Receipts
Individual giving to public charities-most of which comes in the form of charitable deductions from tax filers who itemize on their returns-actually comprises only a small part of charities gross receipts each year: between 8 and 12 percent of gross receipts over the 1996-2003 period.
An Analysis of the Roth 401(k)
This report describes the Roth 401(k) and discusses its potential effects. We find that the Roth 401(k) option will add complexity for employees and employers with little collateral social gain. The Roth 401(k) is unlikely to induce significant new private saving; almost all of the benefits are...
Under the Sheltering Lie
The White House says lowering taxes on capital gains and dividends will create jobs and opportunity. Tax analyst and commentator Len Burman thinks not.
A Preliminary Evaluation of the Tax Reform Panel's Report
This report summarizes the two options for reforming the tax system proposed by the President's Advisory Panel on Federal Tax Reform, offers a preliminary evaluation of the proposals, and discusses the overall effect on revenue, distribution, and growth.
Property Tax Credits Offered Through State Income Tax Systems
Rising house prices have led to increasing property taxes and to calls for property tax reform. However, it is important to realize that many state and local governments currently offer property tax relief programs. We examine the property tax relief programs offered through state income tax...
Capital Gains Tax Rates, Stock Markets, and Growth
Claims that increasing capital gains tax rates will adversely impact stock markets and economic growth are not strongly supported by empirical data. Over the last half-century, the correlation between the maximum capital gains tax rate and the ratio of the S&P index to GDP has been about -0....