Tax Policy Center

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William G. Gale

Codirector

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Research report

In this chapter, we propose a value-added tax (VAT) to contribute to the U.S. fiscal solution. A 5 percent broad-based VAT, paired with subsidies to offset the regressive impacts, could raise about 1 percent of GDP per year. International experience suggests that the VAT can raise substantial...

February 25, 2013
Benjamin H. HarrisWilliam G. Gale
Research report

The Congressional Budget Office released its latest Budget and Economic Outlook earlier this week. As always, the Outlook provides insight into the fiscal status of the federal government. The Outlook shows that, while we do not face an imminent budget crisis, we are not out of the woods. The 10...

February 7, 2013
William G. Gale
Journal Article

With less than four weeks left, reaching an agreement to avoid the negative short-term economic impact of the so-called fiscal cliff might be beyond the ability of the strained U.S. political system.

December 5, 2012
William G. GaleAdditional Authors
Brief

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?

December 5, 2012
William G. Gale
Brief

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.

November 29, 2012
William G. Gale
Research report

This paper examines the fiscal outlook and tax reform options in the United States. The major conclusions include: the United States faces a substantial fiscal shortfall in the medium- and long-term; both spending cuts and tax increases should contribute to the solution; tax increases need not...

November 29, 2012
Samuel BrownWilliam G. Gale
Research report

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...

November 6, 2012
Samuel BrownWilliam G. GaleAdam Looney
Research report

We present new estimates of the budget outlook, incorporating the latest projections by the Congressional Budget Office (CBO). Even with the economy recovering fully by 2018, current policy will result in deficits close to $9 trillion (4.5 percent of GDP) over the next decade, with the debt-to-...

October 10, 2012
Alan J. AuerbachWilliam G. Gale
Brief

In a contribution to Real Clear Markets, Bill Gale discusses the debate over Romney's tax plan.

October 7, 2012
William G. Gale

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