Tax Policy Center

Experts

Expert

William G. Gale

Codirector

Social Media

Brief

We find that estate tax repeal would reduce charitable bequests by between 22 and 37 percent, or between $3.6 billion and $6 billion per year. Previous studies are consistent with this finding, and also imply that repeal would reduce giving during life by a similar magnitude in dollar terms. The...

July 10, 2003
Jon M. Bakija, William G. Gale
Research report

Events leading up to the enactment of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) highlighted the role of tax provisions that expire at a given date, which are commonly known as "sunsets." This article examines trends in the magnitude and nature of sunsets, and discusses...

June 9, 2003
William G. Gale, Peter Orszag
Research report

This paper evaluates the tax proposals put forth by the Bush Administration, the House of Representatives, and the Senate Finance Committee, with respect to their impact on revenues, short-term stimulus, long-term growth and distribution of tax burdens and after-tax income. Particular attention...

May 19, 2003
Leonard E. Burman, William G. Gale, Peter Orszag
Brief

This paper examines long-term fiscal discipline and economic performance, with two main results. First, declines in budget surpluses (increases in deficits) reduce national saving and therefore reduce future national income, regardless of their effect on interest rates. Second, increases in...

April 24, 2003
William G. Gale, Peter Orszag
Research report

The Bush Administration's budget includes a chapter entitled "The Real Fiscal Danger," which highlights the projected imbalances in Social Security and Medicare. Ironically, the budget does not include any specific steps to eliminate or even reduce those imbalances. It does, however, propose...

April 21, 2003
William G. Gale, Peter Orszag
Research report

In the face of a stagnant economy, a war, a rapidly deteriorating short-term fiscal outlook, and a substantial long-term fiscal problem, the Bush Administration has proposed massive, regressive, permanent tax cuts that it acknowledges are unsustainable. This paper shows that under realistic...

April 7, 2003
William G. Gale, Peter Orszag
Research report

In its fiscal year 2004 budget, the Bush administration proposes to create a new set of tax-preferred accounts that would expand opportunities and consolidate rules for tax-advantaged saving. The initial reaction to the proposal was not particularly positive. Despite its uncertain prospects, the...

March 3, 2003
Leonard E. Burman, William G. Gale, Peter Orszag
Research report

The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 back-loaded many of its provisions. For example, EGTRRA reduces the top income tax rate from 38.6 percent currently to 37.6 percent in 2004 and 35 percent in 2006. The future income tax cuts scheduled under EGTRRA have...

February 17, 2003
William G. Gale, Matthew Hall, Peter Orszag
Research report

The release of the Congressional Budget Office's new baseline budget projections on January 29, 2003 offers the opportunity to reassess the fiscal status of the federal government as Congress and the administration consider a new set of budget proposals. This article examines the current budget...

February 10, 2003
William G. Gale, Peter Orszag

From TaxVox

RSS