Voters' Fiscal Guide 2020
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
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With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
As the Trump administration marks the 100 day milestone, a number of pressing fiscal issues remain to be resolved.
Presently, revenues raised by the corporate income tax represent the third-largest category of federal tax revenue in the United States, trailing those generated from the individual income and payroll taxes.
https://www.pgpf.org/budget-basics/the-us-corporate-tax-system-explained
Independent analyses agree unanimously that either bill would add significantly to the growing national debt.
https://www.pgpf.org/blog/2017/12/poll-voters-say-that-tax-reform-shouldn%E2%80%99t-grow-the-debt
The total cost of the Tax Cuts and Job Act is estimated to be $1.7 trillion between 2018 and 2027.
https://www.pgpf.org/blog/2017/11/what-the-interest-on-deficit-funded-tax-legislation-would-cost
"The potential addition of a revenue trigger is the latest in a list of fiscal gimmicks that are being included in this bill," 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-0
"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
The current budget process is ill-suited for managing the nation’s long-term fiscal affairs. Learn about possible reforms to reimagine the budget process.
https://www.pgpf.org/finding-solutions/budget-process-reforms
Many options exist to reduce the imbalance between spending and revenues, including additional taxes on wealthier Americans.
https://www.pgpf.org/blog/2023/04/five-different-ways-of-raising-taxes-on-the-wealthiest-americans
While nearly all Americans pay taxes, the composition of the type of taxes paid is very different for taxpayers at various points in the income distribution.
https://www.pgpf.org/blog/2020/07/how-does-the-tax-system-work