Taxes and the Economy
Results per page: 50 | 100
Results by year: 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006
-
Concerns about the State of the Economy Are Not a Good Reason to Waive Paygo for AMT Relief
December 6, 2007
Several weeks ago, the House of Representatives passed legislation that would provide Alternative Minimum Tax relief for 2007, extend other expiring tax provisions, and offset the cost with various revenue-raising measures. Some have argued that Congress should instead waive its Pay-As-You-Go (PAYGO) rules and deficit finance the cost of the AMT package. … -
Myths and Realities About Changing the Tax Treatment of Private Equity Fund Managers
November 8, 2007
Economists across the political system generally concur that eliminating the tax break for “carried interest” income, a form of compensation received by private equity fund managers, would improve the equity and efficiency of the tax system.[1] The tax code is more efficient when it creates a level playing field. The fact that carried interest income is taxed at the … -
CBO Analysis Shows Economic Benefits of Fiscal Sustainability Are Large and Nearly the Same Whether Taxes Are Raised or Spending Is Cut
September 10, 2007
The economic benefits of reducing long-run deficits are very large, and there is only a modest difference between the economic effects of shrinking deficits by raising taxes and doing so by cutting expenditures. This is the key conclusion of a recent Congressional Budget Office response to a request from Senator Judd Gregg (R-NH), the ranking … -
The Effects of the Capital Gains and Dividend Tax Cuts On the Economy and Revenues
Revised July 12, 2007
With the fourth anniversary of the 2003 capital gains and dividend tax cuts just past and the Office of Management and Budget’s Mid-Session Review released today, supporters of making these tax cuts permanent are reiterating their claim that the tax cuts boosted the economy and increased federal revenues. For example, a release from the Senate Republican Policy Committee contends … -
CBO Provides New Evidence That the 2001 And 2003 Tax Cuts Have Only Modest Economic Effects and Do Not Pay For Themselves
April 13, 2007
A new analysis by the Congressional Budget Office finds that extending the 2001 and 2003 tax cuts could result in a modest increase in the number of hours that people work. However, any “dynamic” revenue gains associated with the resulting increase in wages and salaries would pale in comparison with the cost of extending the tax cuts. Those … -
Economic Effects of the Pay-As-You-Go Rule
March 19, 2007
The budget resolution approved March 15 by the Senate Budget Committee would reinstate in the Senate the Pay-As-You-Go budget rule that was in force during the 1990s. (The House of Representatives reintroduced the PAYGO rule several months ago.) PAYGO requires that the costs of any legislation that increases entitlement spending or decreases revenues be offset. Thus, if adhered … -
Testimony of Robert Greenstein on Economic Security and Long-term Budget Projections
January 30, 2007
I appreciate the invitation to appear before you today. I direct the Center on Budget and Policy Priorities, a nonprofit policy institute that conducts research and analysis on fiscal policy matters, as well as on programs and policies for low-income families and individuals. Last winter, the Center was asked by the Carnegie Roundtable on Economic … -
The Long-Term Fiscal Outlook Is Bleak
January 29, 2007
In 2006, the federal government ran a deficit of $248 billion, or about 2 percent of the economy. Deficits are projected to average about 2 percent of GDP over the next ten years, assuming the 2001 and 2003 tax cuts are extended. After that, the fiscal situation is expected to deteriorate markedly. In this analysis, we present new projections for the …
