Focus on Tax Policy

Focus on Tax Policy

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An August 9 McClatchy/Marist poll found that 68 percent of people favoring raising taxes on those making more than $250,000 to reduce the deficit; 29 percent are opposed. Even among Tea Party supporters, 43 percent are in favor.

On August 8, economists Len Burman and Marvin Phaup posted a working paper arguing that most tax expenditures are misclassified as tax cuts rather than government spending.

On August 4, the International Monetary Fund published a working paper on the administrative feasibility of a financial transactions tax.

An August 4 New York Times/CBS News poll found that 63 percent of people would raise taxes on those making more than $250,000 per year to reduce the deficit; 34 percent would not.

On August 2, the Tax Policy Center published a study on three different methods of limiting tax expenditures for high-income households.

An August 2 CNN/ORC poll found that 60 percent of people disapprove of the fact that the debt ceiling deal did not include higher taxes.

A July 28 poll from the Alliance for American Manufacturing found that high taxes is the lowest ranked concern people have, and that cutting business taxes is the lowest ranked option for improving the economy.

On July 27, the Senate Finance Committee held a hearing on ways the tax code can encourage economic growth. Testifying were four corporate executives.

I last posted items on this topic on August 1.

 Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs dailyand writes a  weekly columnat 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).

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.