Tax Policy Center



William G. Gale


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Journal Article

With the economy rocked by mortgage defaults, illiquidity in financial markets, a falling dollar, and declining consumer confidence, fiscal matters have been placed on the back burner to some extent by policy makers and commentators. However, the fiscal problems facing the country not only won't...

May 15, 2008
William G. Gale, Jason Furman, Alan J. Auerbach

In the next few years, several factors will push tax issues to the forefront of policy discussions. First, under current law, almost all of the Bush Administration's tax cuts will expire at the end of 2010. A second factor is the rapid growth in the alternative minimum tax (AMT), which will...

May 14, 2008
William G. Gale

A good tax system raises the revenues needed to finance government spending in a manner that is as simple, equitable, stable, and conducive to economic growth as possible. But the challenge for the next President will be to make reform work not just in the abstract, but in the real world, where...

January 17, 2008
William G. Gale
Research report

Americans are taught from an early age to aspire to homeownership, and several long-standing federal institutions and regulations support owner-occupied residential housing. The income tax deduction for mortgage interest payments is possibly the best-known federal housing policy. Evidence...

June 27, 2007
William G. Gale, Jonathan Gruber, Seth Stephens-Davidowitz

The individual alternative minimum tax (AMT) was originally designed to limit the amount of tax sheltering and to assure that high-income filers paid at least some tax. The current AMT, however, has strayed from those original goals and under current law the tax will affect over 23 million...

January 19, 2007
Leonard E. Burman, Greg Leiserson, William G. Gale
Research report

Despite substantial attention given to fiscal policy concerns in recent years, the federal government's fiscal status has continued to deteriorate, with the enactment of tax cuts, a massive new Medicare entitlement, increased spending on defense and homeland security, and related economic...

April 17, 2006
Alan J. Auerbach, William G. Gale, Peter Orszag
Research report

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...

January 9, 2006
William G. Gale, J. Mark Iwry, Gordon McDonald
Research 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.

December 5, 2005
Leonard E. Burman, William G. Gale
Research report

The United States collects much less revenue in consumption taxes than do other OECD countries.

September 12, 2005
William G. Gale, Seth Stephens-Davidowitz

From TaxVox