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Title:Desperately seeking revenue PDF Logo
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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