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http://hdl.handle.net/10419/59462
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| Title: | | Desperately seeking revenue  |
| Authors: | | Altshuler, Rosanne Lim, Katherine Williams, Roberton |
| Issue Date: | | 2011 |
| Series/Report no.: | | Working Papers, Department of Economics, Rutgers, the State University of New Jersey 2011,21 |
| Abstract: | | In August 2009 the Congressional Budget Offi ce warned that the budget was on an unsustainable path. Preventing federal debt from growing faster than the economy over the long-run requires large increases in revenues and/or decreases in spending. We explore, using the Urban-Brookings Tax Policy Center Model, whether incremental reforms of the current tax system could raise enough revenue to reduce the deficit to a sustainable level over the last fi ve years of the current 10-year budget window. We conclude that feasible tax increases within the current tax structure cannot generate suffi cient revenues to bring federal budget defi cits under control. |
| Subjects: | | budget deficit tax reform individual taxation |
| JEL: | | H20 H60 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Department of Economics, Rutgers University
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