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
To help better inform the current debate over tax reform, the Tax Policy Center (with a grant from the Peterson Foundation) put real numbers behind different scenarios for tax reform that are both distributionally neutral and fiscally responsible.
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
The budgetary and economic effects of proposed tax legislation are a critical element of the debate.
https://www.pgpf.org/analysis/2017/12/tax-modeling-tax-reform-why-its-important
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.
Tax expenditures cost the government about $1.5 trillion each year, more than the budget of any agency or major spending program.
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, commented today after the White House released the outline of President Trump’s tax plan.
https://www.pgpf.org/press-release/2017/04/statement-on-administrations-tax-plan
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
The Peter G. Peterson Foundation held its first Fiscal Summit in 2010 to start a national bipartisan dialogue on critical fiscal issues with thought leaders and prominent stakeholders from across the political spectrum.