This report card compares the provisions of the House and Senate tax stimulus bills (the "American Recovery and Reinvestment Tax Plan of 2009"). The combined evaluation is preliminary and does not include all of the provisions in the bill - most notably we omit provisions related to state and...
The article considers special federal tax provisions affecting the elderly. It examines the taxation of Social Security, private retirement accounts, estate taxation and other provisions of the law that mention age. It also analyzes how the elderly might be affected by tax increases necessitated...
The Tax Policy Center has graded the key tax provisions of the pending Senate stimulus bill (the "American Recovery and Reinvestment Tax Plan of 2009"). Our grades, which rely on the bill's legislative language, focus on how well these measures would boost the economy in the short run....
The Tax Policy Center has graded the key tax provisions of the pending House stimulus bill (the "American Recovery and Reinvestment Tax Plan of 2009"). Our grades, which rely on the bill's legislative language, focus on how well these measures would boost the economy in the short run....
What will work best to stimulate the nation out of recession? Look to the states, saysLen Burmanin a commentary for public radio's Marketplace program.
The prevalent theme in recent discussions of stimulus is that the risk of doing too little exceeds the risk that we shall do too much. But we must ask how much of too much we can tolerate. The risks of overdoing it are severe and are not emphasized enough in the current discussion. The main...
In testimony before the Senate Budget Committee, UI's president and former director of the Congressional Budget Office, discusses remedies for the nation's two serious --and diametrically opposed --fiscal challenges: the immediate, short-run problems of economic recession, and the issue of long-...
During the presidential campaign, Barack Obama proposed a comprehensive tax plan that would raise taxes on high-income taxpayers, cut taxes for low- and middle-income households, and lose $2.9 trillion dollars of revenue over ten years. Obama will take office with the economy in sharp recession...
Analysts often add up tax expenditures to estimate an aggregate cost, but those tallies are inaccurate because they ignore interactions among provisions. We estimate that interactions raise the cost of nonbusiness tax expenditures by 5 to 8 percent, depending on whether an AMT patch is in effect...
This paper reviews why Social Security fails to lift more aged low-wage workers and people of color out of poverty. It examines the payroll tax and benefit formula and reviews literature about OASDI outcomes by race, gender, and earnings level. It describes how mortality, earnings, disability,...
Tax Stimulus Report Card: Comparing the House and Senate Bills
This report card compares the provisions of the House and Senate tax stimulus bills (the "American Recovery and Reinvestment Tax Plan of 2009"). The combined evaluation is preliminary and does not include all of the provisions in the bill - most notably we omit provisions related to state and...
Federal Taxes and the Elderly
The article considers special federal tax provisions affecting the elderly. It examines the taxation of Social Security, private retirement accounts, estate taxation and other provisions of the law that mention age. It also analyzes how the elderly might be affected by tax increases necessitated...
Tax Stimulus Report Card: Senate Finance Committee
The Tax Policy Center has graded the key tax provisions of the pending Senate stimulus bill (the "American Recovery and Reinvestment Tax Plan of 2009"). Our grades, which rely on the bill's legislative language, focus on how well these measures would boost the economy in the short run....
Tax Stimulus Report Card: House Bill
The Tax Policy Center has graded the key tax provisions of the pending House stimulus bill (the "American Recovery and Reinvestment Tax Plan of 2009"). Our grades, which rely on the bill's legislative language, focus on how well these measures would boost the economy in the short run....
Experiment to Get Best Stimulus Results
What will work best to stimulate the nation out of recession? Look to the states, saysLen Burmanin a commentary for public radio's Marketplace program.
Addressing Short- and Long-Term Fiscal Challenges
The prevalent theme in recent discussions of stimulus is that the risk of doing too little exceeds the risk that we shall do too much. But we must ask how much of too much we can tolerate. The risks of overdoing it are severe and are not emphasized enough in the current discussion. The main...
Addressing the Nation's Contradictory Fiscal Challenges
In testimony before the Senate Budget Committee, UI's president and former director of the Congressional Budget Office, discusses remedies for the nation's two serious --and diametrically opposed --fiscal challenges: the immediate, short-run problems of economic recession, and the issue of long-...
President-Elect Obama's Tax and Stimulus Plans
During the presidential campaign, Barack Obama proposed a comprehensive tax plan that would raise taxes on high-income taxpayers, cut taxes for low- and middle-income households, and lose $2.9 trillion dollars of revenue over ten years. Obama will take office with the economy in sharp recession...
How Big Are Total Individual Income Tax Expenditures, and Who Benefits from Them?
Analysts often add up tax expenditures to estimate an aggregate cost, but those tallies are inaccurate because they ignore interactions among provisions. We estimate that interactions raise the cost of nonbusiness tax expenditures by 5 to 8 percent, depending on whether an AMT patch is in effect...
Are There Opportunities to Increase Social Security Progressivity despite Underfunding?
This paper reviews why Social Security fails to lift more aged low-wage workers and people of color out of poverty. It examines the payroll tax and benefit formula and reviews literature about OASDI outcomes by race, gender, and earnings level. It describes how mortality, earnings, disability,...