Who Benefits from Tax Expenditures Chart
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
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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
“Six months from an important election, and as Americans face the challenges of high inflation, rising interest rates and economic uncertainty, it’s no surprise that voters are deeply concerned about our unsustainable national debt and budget outlook,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/05/fci-press-release
Funding Will Support New Research to Analyze Economic Implications of COVID-19 Pandemic, Illuminate Solutions for Policymakers
“As we continue to face significant economic turbulence and uncertainty, fiscal confidence is near a record low, because voters know that our growing national debt makes it more difficult to build a strong and stable future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/04/fci-press-release
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
https://www.pgpf.org/chart-archive/0273_statutory_corporate_income_tax_rates
Eight popular tax provisions accounted for a large majority of annual tax expenditures.
https://www.pgpf.org/chart-archive/0009_largest-tax-expenditures
The top 1 percent of taxpayers generate 30 percent of individual income tax revenues.