Understanding the Budget: Revenues
The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
https://www.pgpf.org/finding-solutions/understanding-the-budget/revenues
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The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
https://www.pgpf.org/finding-solutions/understanding-the-budget/revenues
The Financial Times and the Peterson Foundation have wrapped up a year-long initiative to track voter sentiment on economic and fiscal issues.
While there is disagreement on specific remedies, there is broad consensus that our current tax code is broken.
https://www.pgpf.org/analysis/2013-fall-fiscal-agenda-%E2%80%94-tax-reform
“After adding trillions to our national debt in last year’s irresponsible tax bill, our leaders are now adding another $300 billion in deficits over just the next two years," 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-budget-deal
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.
https://www.pgpf.org/budget-basics/what-is-the-earned-income-tax-credit
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.
The top 20 percent of income earners receive over half the value of major tax expenditures.
https://www.pgpf.org/Chart-Archive/0199_distribution_tax_expenditures
Cracking down on the tax gap would not only introduce more fairness into the system, but it could be a big help for our nation’s fiscal imbalance.
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.