Who Pays Taxes
High-income households earn a disproportionate share of pre-tax income and pay an even larger share of total federal taxes.
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High-income households earn a disproportionate share of pre-tax income and pay an even larger share of total federal taxes.
All income groups pay taxes, but overall the U.S. tax system is progressive.
https://www.pgpf.org/chart-archive/0210_distribution_of_taxes
In light of the growing urgency of the climate crisis, many lawmakers, advocacy groups, and American citizens are calling for the government to undertake policies to more comprehensively address climate change.
https://www.pgpf.org/budget-basics/what-is-a-carbon-tax-how-would-it-affect-the-economy
"Like the House bill, the Senate proposal includes reforms that are neither permanent nor paid for, both of which impede the objective of growing the economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/11/peterson-foundation-statement-on-senate-tax-bill
“In order to truly help our economy, infrastructure investments must be paid for, because adding more debt hurts our economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Estate and gift taxes are levied on the transfer of assets. Two areas of the tax code that are relatively small in dollar terms, but can generate a significant amount of attention and even controversy in the broader conversation about wealth.
https://www.pgpf.org/budget-basics/what-are-estate-and-gift-taxes-and-how-do-they-work
“Today’s budget represents a dramatically worse outlook than what was released just last May," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/02/peterson-foundation-statement-on-presidents-budget
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
Washington is debating tax reform. There’s talk of substantial tax cuts that would give trillions of dollars back to American taxpayers. That might sound great to some. But if Congress doesn’t find a way to pay for those tax cuts, future generations will be stuck with the bill.
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.