The Fiscal Month in Review: Resurrection of the AHCA, Broad Strokes on Taxes
As the Trump administration marks the 100 day milestone, a number of pressing fiscal issues remain to be resolved.
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As the Trump administration marks the 100 day milestone, a number of pressing fiscal issues remain to be resolved.
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
Major tax expenditures tend to benefit high income taxpayers more than lower income groups.
https://www.pgpf.org/blog/2016/04/who-benefits-from-tax-expenditures
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
One issue that most lawmakers and voters agree on is that our tax system needs reform.
https://www.pgpf.org/infographic/how-the-us-tax-system-works
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
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.
The top 1 percent of taxpayers generate 30 percent of individual income tax revenues.
Reform that eliminates virtually all tax expenditures allows for rates to be lowered significantly.
Viewed in aggregate, our tax system is generally progressive.
https://www.pgpf.org/blog/2016/04/what-kinds-of-taxes-do-americans-pay