Focus on Tax Policy

Focus on Tax Policy

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On November 16, the Tax Policy Center released a preliminary distributional analysis of one of the Simpson-Bowles budget plan’s tax options, which would eliminate most tax expenditures and reduce statutory tax rates. Key point: elimination of income exclusions, such as for employer-provided health insurance, increases the taxable wage base and thus raises Social Security tax revenues as well as income tax revenues.

In a November 15 article, University of Delaware law professor Sheldon Pollack put debate over extension of the Bush tax cuts into historical perspective. He see it as the continuation of one that has been going on since the end of World War II over the best rate structure and size of government.

In a November 12 commentary, University of Chicago economist Richard Thaler discussed some economic implications of the estate tax.

Also on November 12, Michael Mundaca, assistant secretary of the Treasury for tax policy, answered questions on a number of current tax topics.

In a November 10 commentary, University of Chicago economist Casey Mulligan was highly critical of the estate tax.

In a November 7 commentary, Republican economist Kevin Hassett suggested allowing the Bush tax cuts to expire and replacing them with other tax cuts that would do a better job of stimulating growth.

On November 4, the Tax Policy Center published a study discussing the implications of instituting a new tax bracket for millionaires.

On October 27, the Congressional Research Service released a report on extension of the Bush tax cuts. Among the findings: full extension of all the Bush tax cuts, plus indexation of the AMT and including the additional debt service would increase the deficit by $5.1 trillion over 10 years.

On October 25, the Tax Policy Center published a study on the tax savings for each additional child by income quintile.

I last posted items on this topic on October 27.

Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Read his most recent column here. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006). 

Bruce Bartlett’s columns focus on the intersection of politics and economics. The author of seven books, he worked in government for many years and was senior policy analyst in the Reagan White House.