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...
Leonard Burman's testimony before the U.S. House of Representative's Committee on Ways and Means and the Senate Finance Committee on tax reform and the tax treatment of capital gains.
A recent TPC paper examined tradeoffs among revenues, progressivity and tax rates in tax reform. It concluded that, under certain assumptions, any revenue-neutral plan along the lines Governor Romney has outlined would reduce taxes for high-income households, thus requiring higher taxes on other...
This paper examines the tradeoffs among three competing goals that are inherent in a revenue-neutral income tax reformmaintaining tax revenues, ensuring a progressive tax system, and lowering marginal tax ratesdrawing on the example of the tax policies advanced in presidential candidate Mitt...
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...
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...
Five Myths About the 47 Percent
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...
Tax Reform and the Tax Treatment of Capital Gains
Leonard Burman's testimony before the U.S. House of Representative's Committee on Ways and Means and the Senate Finance Committee on tax reform and the tax treatment of capital gains.
Implications of Governor Romney's Tax Proposals: FAQs and Responses
A recent TPC paper examined tradeoffs among revenues, progressivity and tax rates in tax reform. It concluded that, under certain assumptions, any revenue-neutral plan along the lines Governor Romney has outlined would reduce taxes for high-income households, thus requiring higher taxes on other...
On the Distributional Effects of Base-Broadening Income Tax Reform
This paper examines the tradeoffs among three competing goals that are inherent in a revenue-neutral income tax reformmaintaining tax revenues, ensuring a progressive tax system, and lowering marginal tax ratesdrawing on the example of the tax policies advanced in presidential candidate Mitt...
The Fiscal Cliff? Let's Pass Right Over It
In a contribution to the Real Clear Markets, Bill Gale discusses the "fiscal cliff" facing the U.S. economy.
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.
How the GOP Turned Tax Reform into a New Way to "Starve the Beast"
In a contribution to the New Republic, Tax policy Center affiliate Henry Aaron discusses the meaning of tax reform in today's political climate.
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...
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...