OVERVIEW AND ASSESSMENT OF CHANGING TAX POLICY

Public Economics,

Reducing the Deficit by Increasing Individual Income Tax Rates

Estimates impact on debt-to-GDP ratio of raising all individual income tax rates, including the capital gains tax; raising the top three rates and leaving capital gains rate unchanged; and raising the top two rates and leaving capital gains unchanged

Using a VAT for Deficit Reduction

Examines implications of imposing a value-added tax, compared with increasing individual income tax rates (including capital gains tax), such as the distribution of the tax burden on households, distortions on economic decisions, and government costs

Curbing Tax Expenditures

Reviews trends in tax expenditures and their effects and examines three options for raising tax revenue by applying limits to large and widely utilized tax preferences: a fixed percentage credit, a cap based on income, and a constant percentage reduction

Methodology for Distributing a VAT

Proposes a revised methodology for analyzing the distributional effects of a value-added tax - the economic burden placed on households of different income levels and demographics - as well as on government revenues and spending and capital

Using a VAT to Reform the Income Tax

Analyzes a proposal to simplify the tax system and improve economic incentives by adopting a value-added tax, removing most current taxpayers from income tax rolls, reforming the corporate income tax, and lowering the top individual and corporate rates

An Analysis of Potential Tax Incentives to Increase Charitable Giving in Puerto Rico

Compares options for improving tax incentives for charitable giving, including lifting the ceiling on deductions as a percentage of adjusted gross income, and estimated effects on nonprofits in Puerto Rico, where average giving is high relative to AGI

Will Employers Want Aging Boomers?

Explores the status quo of older workers; why baby boomers are likely to work longer; and how changes in needed skills, the characteristics of older workers, and labor force growth will affect demand for older workers. Includes policy recommendations

Mortgage Interest Deduction

Reviews the mortgage interest deduction's fiscal costs, its limitations in subsidizing homeownership, and alternatives. Analyzes the estimated effects of eliminating it, replacing it with alternative tax credits, and limiting the deduction to 28 percent

What the 2008 Stock Market Crash Means for Retirement Security

Compares future retirement resources before and after the stock market decline, by gender, marital status, race/ethnicity, education, and retirement income quintile, under three scenarios: no recovery, full recovery, and partial recovery in ten years