On July 27, the Tax Policy Center published a study on why so many people are exempt from the federal income tax.
On July 26, MIT economist Peter Diamond and University of California economist Emmanuel Saez published a technical paper defending the principle of progressivity in taxation.
A July 26 Ipsos/Reuters poll found that 68 percent of people favor higher taxes to reduce the deficit; only 19 percent favor spending cuts alone, down from 27 percent in May.
On July 26, the House Ways and Means Committee held a hearing on consumption-based tax systems. Among those testifying were Columbia University law professor Michael Graetz, Rutgers economist Roseanne Altshuler, and Boston University economist Laurence Kotlikoff. I testified in opposition to the so-called FairTax.
A July 25 Rasmussen poll found that 56 percent of people favor tax increases as well as spending cuts to reduce the deficit; only 34 percent oppose all tax increases.
A July 19 Washington Post/ABC News poll found that people support a deficit reduction package including tax increases over spending cuts alone by a 2 to 1 margin. Strong majorities would raise taxes on those making more than $250,000 per year; oil and gas companies; and hedge fund managers.
A July 19 NBC News/Wall Street Journal poll found that people support a deficit reduction package including tax increases over one with spending cuts alone by a 2 to 1 margin.
A July 18 CBS News poll found that two thirds of people believe that tax increases should be part of a debt limit budget deal.
A July 14 Quinnipiac poll found that 67 percent of people would accept tax increases as part of a budget deal.
In a July 13 commentary, Harvard economist Greg Mankiw noted that spending through the tax code is almost as great as total federal domestic spending.
I last posted items on this topic on July 15.
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. 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, Imposter: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).
