Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 564
Book Description
Middle-income Tax Cuts
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 564
Book Description
Middle Income Tax Cuts
Author: Macroeconomic and Distributional Effects of Personal Income Tax Reforms
Author: Mrs.Sandra V Lizarazo RuizPublisher: International Monetary Fund
ISBN: 1484318226
Category : Business & Economics
Languages : en
Pages : 32
Book Description
This paper assesses the macroeconomic and distributional impact of personal income tax (PIT) reforms in the U.S. drawing on a multi-sector heterogenous agents model in which consumers have non-homothetic preferences and sectors differ in terms of their relative labor and skill intensity. The model is calibrated to key characteristics of the US economy. We find that (i) PIT cuts stimulate growth but the supply side effects are never large enough to offset the revenue loss from lower marginal tax rates; (ii) PIT cuts do “trickle-down” the income distribution: tax cuts stimulate demand for non-tradable services which raise the wages and employment prospects of low-skilled workers even if the tax cut is not directly incident on them; (iii) A revenue neutral tax plan that reduces PIT for middle-income groups, raises the consumption tax, and expands the Earned Income Tax Credit can have modestly positive effects on growth while reducing income polarization; (iv) The growth effects from lower income taxes are concentrated in non-tradable service sectors although the increased demand for tradable goods generate positive spillovers to other countries; (v) Tax cuts targeted to higher income groups have a stronger growth impact than tax cuts for middle income households but significantly worsen income polarization, even after taking into account trickle-down effects and an expansion of the Earned Income Tax Credit.
The Middle Income Tax Relief Question
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 108
Book Description
Tax Withholding and Estimated Tax
Author: Publisher:
ISBN:
Category : Tax revenue estimating
Languages : en
Pages : 48
Book Description
Understanding Middle-Class Tax Cuts
Author: BrillMiddle-income Tax Proposals
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 80
Book Description
Distributed to some depository libraries in microfiche.
U.S. Economy, and Proposals to Provide Middle-income Tax Relief, Tax Equity and Fairness, Economic Stimulus and Growth
Author: United States. Congress. House. Committee on Ways and MeansPublisher:
ISBN:
Category : Law
Languages : en
Pages : 970
Book Description
Tax Cut No Cure for Middle Class Economic Woes
Author: Jared BernsteinPublisher:
ISBN:
Category : Income tax
Languages : en
Pages : 34
Book Description
The strong economy of the past few years has lifted the fortunes of most working families. At the bottom of the wage and income scales, workers whose living standards declined steadily over the past 25 years have benefited from both the tight labor market and the increase in the minimum wage. At the top of the income ladder, the wealthy have continued to enjoy wage and income growth and have reaped huge gains from the growth in the stock market. But what about the middle? Neither the minimum wage nor the stock market does much for workers in middle-income families. The tight labor market has helped those in the middle class, but the gains have been modest compared to the benefits received by those at the bottom.
Revenue Effects of Major Tax Bills
Author: TempalskiPublisher: CreateSpace
ISBN: 9781505607208
Category :
Languages : en
Pages : 24
Book Description
Since the federal income tax was significantly expanded in 1940, several dozen major tax bills have been enacted. Inevitably, discussions (and disagreements) have arisen concerning the relative size of the bills effects on federal revenues.This paper uses revenue estimates from Treasury and the Joint Committee on Taxation to compare the relative size of the revenue effect of the major tax bills enacted after 1939 using four different measures. An appendix provides a short list of the major provisions in the bills.