Distribution of Tax Burden
All income groups pay taxes, but overall the U.S. tax system is progressive.
https://www.pgpf.org/chart-archive/0210_distribution_of_taxes
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All income groups pay taxes, but overall the U.S. tax system is progressive.
https://www.pgpf.org/chart-archive/0210_distribution_of_taxes
In light of the growing urgency of the climate crisis, many lawmakers, advocacy groups, and American citizens are calling for the government to undertake policies to more comprehensively address climate change.
https://www.pgpf.org/budget-basics/what-is-a-carbon-tax-how-would-it-affect-the-economy
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
Washington is debating tax reform. There’s talk of substantial tax cuts that would give trillions of dollars back to American taxpayers. That might sound great to some. But if Congress doesn’t find a way to pay for those tax cuts, future generations will be stuck with the bill.
The Financial Times and the Peterson Foundation have wrapped up a year-long initiative to track voter sentiment on economic and fiscal issues.
Lawmakers unveiled a tax overhaul framework recently, outlining a number of changes to individual and corporate taxes.
https://www.pgpf.org/blog/2017/10/five-charts-to-help-you-better-understand-individual-tax-reform
Reform that eliminates virtually all tax expenditures allows for rates to be lowered significantly.
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
Tax expenditures are often "spending in disguise" because they are used by Congress to direct resources to specific constituencies and priorities — much like spending programs.
https://www.pgpf.org/analysis/the-debate-over-tax-expenditures
"In just the next decade, this tax bill could add more than $2 trillion to our national debt, which is already $20 trillion and growing," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/12/peterson-statement-on-tax-bill-conference-committee