Would Increased Funding for the IRS Narrow the Tax Gap?
Nearly half a trillion dollars in taxes go uncollected every year. Can increased funding for the IRS bring in more federal revenues?
Read MoreWhat Is Fiscal Policy? Interactive Teaching Tools
Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
Read MoreHow the Lack of Action on the Debt Ceiling Can Hurt the Economy
Even though the government has never defaulted, the continued pattern of brinksmanship has negative consequences for our economy.
Read MorePayroll Taxes: What Are They and What Do They Fund?
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
Read MoreHow Marginal Tax Rates and Breaks Affect What You Pay
The percentage of income that Americans pay in taxes can vary widely and depend on many factors.
Read MoreThe U.S. Corporate Tax System Explained
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.
Read MoreBudget Basics: Who Pays Taxes?
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts.
Read MoreThree Major Challenges to Retirement Security
The top financial worry for Americans is having enough money for retirement — and for good reason.
Read MorePresident Biden’s Policies Would Reduce Deficits by Trillions if Enacted — But Debt Would Still Climb
President Biden’s proposed policies, if enacted, would reduce deficits over the next decade, according to an analysis recently published by the Congressional Budget Office (CBO).
Read More$1 Trillion Deficits Are Projected for the Foreseeable Future
The federal deficit is projected to be over $1 trillion each year for the next 10 years, according to the Office of Management and Budget.
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