Tax — Federal

Greenstein: Obama Tax Proposals Are More Progressive Than They May Appear

The President’s new tax proposals would raise revenues from high-income and wealthy filers and devote much of the savings to other tax proposals that would benefit low- and moderate-income filers.

Estimates from the Urban-Brookings Tax Policy Center (TPC) show that the President’s proposals are quite progressive, but some readers are interpreting those estimates as meaning that low- and middle-income families get only modest benefits. That’s not the case. Read more

Related:

 

House “Dynamic Scoring” Rule Likely Will Mean More Tax Cuts — Not More Information

House Republicans have amended House rules to require the use of “dynamic scoring” for official cost estimates of tax reform and other major legislation.

Related: Brief: Why Budget and Tax Plans Shouldn’t Use Dynamic Scoring

 

 

 

Basics

The income tax on individuals and the payroll tax, which is deducted from workers’ wages and used to help finance Social Security and Medicare, each made up about 40 percent of federal revenues in 2010. The federal government also collects revenue from corporate taxes, excise taxes, and other sources.

Policy Basics:
-
The Child Tax Credit
- The 2001 and 2003 Tax Cuts
- Where Do Our Federal Tax Dollars Go?
- The Estate Tax
- The Earned Income Tax Credit
- Deficits, Debt, and Interest

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The Center analyzes major tax proposals, examining their likely effects on the economy and on the government’s ability to address critical national needs, especially over the long term.  We place particular emphasis on the effects of tax proposals on households at different income levels.  In addition, we analyze trends in the level of federal revenues, income distribution, and tax burdens.

By the Numbers

Spending Through the Tax Code Skews Towards the Top
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