How Does the Capital Gains Tax Work Now, and What Are Some Proposed Reforms?
While the capital gains tax affects anyone selling a capital asset, higher-income individuals are typically subject to the tax more so than average Americans.
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While the capital gains tax affects anyone selling a capital asset, higher-income individuals are typically subject to the tax more so than average Americans.
When most Americans think about businesses in this country, the word “corporation” may come to mind — but the truth is that the vast majority of businesses in the United States are not structured as traditional corporations, but as pass-through entities.
A wealth tax would impose a levy on assets owned by an individual or household — as opposed to, for example, an income tax.
https://www.pgpf.org/blog/2023/10/what-is-a-wealth-tax-and-should-the-united-states-have-one
Viewed in aggregate, our tax system is generally progressive.
https://www.pgpf.org/blog/2016/04/what-kinds-of-taxes-do-americans-pay
“This is an example of how our leaders can pay for their priorities, whatever they may be, while helping to improve America’s fiscal and economic future at the same time," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
As the Trump administration marks the 100 day milestone, a number of pressing fiscal issues remain to be resolved.
As more time passes since enactment, and as more data become available, economists continue to weigh in with analyses of the TCJA’s effects.
The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.
“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
In order to balance our budget and reduce the amount of debt the government takes on each year, we must match the level of government revenues with the level of spending.
https://www.pgpf.org/budget-basics/where-the-money-comes-from-revenues-taxes