The Size of Tax Expenditures
Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
https://www.pgpf.org/chart-archive/0054_tax-expenditures-comparison
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Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
https://www.pgpf.org/chart-archive/0054_tax-expenditures-comparison
Revenue from corporate income taxes has largely decreased since 1950.
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
President & CEO David Walker discussed why the President should establish a fiscal commission by Presidential Order now that Congress has defeated the amendment that would have created a statutory commission.
https://www.pgpf.org/press-release/2010/01/pgpf-discusses-issues-addressed-in-state-of-the-union
Peterson foundation holds fiscal cliff forum today — brings together lawmakers and policy experts to discuss solutions to nation's long-term fiscal challenges.
https://www.pgpf.org/press-release/2012/11/peterson-foundation-holds-2012-fiscal-cliff-forum
High-income households earn a disproportionate share of pre-tax income and pay an even larger share of total federal taxes.
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.
The United States lost an estimated $1.8 trillion in revenues through tax expenditures in 2023.
https://www.pgpf.org/blog/2024/03/6-key-charts-on-tax-breaks
Tax expenditures cost the government about $1.5 trillion each year, more than the budget of any agency or major spending program.
The Peter G. Peterson Foundation today launched a multi-platform online awareness campaign spotlighting the federal government's $56.4 trillion in financial obligations and unfunded promises.
https://www.pgpf.org/press-release/peterson-foundation-launches-tax-day-awareness-campaign