Download or read book Tax Increases Or Spending Restraint written by Daniel J. B. Mitchell and published by . This book was released on 1989 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Do Tax Cuts Starve the Beast written by Christina Romer and published by . This book was released on 2007 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The hypothesis that decreases in taxes reduce future government spending is often cited as a reason for cutting taxes. However, because taxes change for many reasons, examinations of the relationship between overall measures of taxation and subsequent spending are plagued by problems of reverse causation and omitted variable bias. To deal with these problems, this paper examines the behavior of government expenditures following legislated tax changes that narrative sources suggest are largely uncorrelated with other factors affecting spending. The results provide no support for the hypothesis that tax cuts restrain government spending; indeed, they suggest that tax cuts may actually increase spending. The results also indicate that the main effect of tax cuts on the government budget is to induce subsequent legislated tax increases. Examination of four episodes of major tax cuts reinforces these conclusions.

Download or read book Maximizing America s Prosperity written by United States. Congress. Joint Economic Committee and published by . This book was released on 2012 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rules and Restraint written by David M. Primo and published by University of Chicago Press. This book was released on 2007-10 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher description

Download or read book Do Tax Cuts Starve the Beast written by Christina D. Romer and published by . This book was released on 2010 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The hypothesis that decreases in taxes reduce future government spending is often cited as a reason for cutting taxes. However, because taxes change for many reasons, examinations of the relationship between overall measures of taxation and subsequent spending are plagued by problems of reverse causation and omitted variable bias. To deal with these problems, this paper examines the behavior of government expenditures following legislated tax changes that narrative sources suggest are largely uncorrelated with other factors affecting spending. The results provide no support for the hypothesis that tax cuts restrain government spending; indeed, they suggest that tax cuts may actually increase spending. The results also indicate that the main effect of tax cuts on the government budget is to induce subsequent legislated tax increases. Examination of four episodes of major tax cuts reinforces these conclusions.

Download or read book The Deficit Dilemma written by Gregory B. Mills and published by . This book was released on 1983 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors examine the political and economic predicament faced by large Federal deficits, describe how the Federal budget outlook has evolved under President Reagan and explain how newly enacted legislation and economic developments worsened the deficit outlook. They find disparity between projected Federal revenues and outlays so great as to require action on all three major fronts for reducing the deficits: tax increases, a scaleback in the planned defense building and further restraint on defense spending. They conclude that given the pragmatic limits to spending control, about two-thirds of the deficit reduction may have to come through tax increases. ISBN 0-87766-327-0 : $8.95.

Download or read book Rules and Restraint written by David M. Primo and published by University of Chicago Press. This book was released on 2008-09-15 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government spending has increased dramatically in the United States since World War II despite the many rules intended to rein in the insatiable appetite for tax revenue most politicians seem to share. Drawing on examples from the federal and state governments, Rules and Restraint explains in lucid, nontechnical prose why these budget rules tend to fail, and proposes original alternatives for imposing much-needed fiscal discipline on our legislators. One reason budget rules are ineffective, David Primo shows, is that politicians often create and preserve loopholes to protect programs that benefit their constituents. Another reason is that legislators must enforce their own provisions, an arrangement that is seriously compromised by their unwillingness to abide by rules that demand short-term sacrifices for the sake of long-term gain. Convinced that budget rules enacted through such a flawed legislative process are unlikely to work, Primo ultimately calls for a careful debate over the advantages and drawbacks of a constitutional convention initiated by the states—a radical step that would bypass Congress to create a path toward change. Rules and Restraint will be required reading for anyone interested in institutional design, legislatures, and policymaking.

Download or read book Restoring Fiscal Sanity written by Alice M. Rivlin and published by Rlpg/Galleys. This book was released on 2004 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Restoring Fiscal Sanity, scholars with high-level government experience provide an overview of the countrys likely medium- and long-term spending needs and the resources available to pay for them. They propose three alternative fiscal paths that are more responsible than the current path.

Download or read book At Issue a Presidential Commission to Reform the Federal Tax System written by and published by . This book was released on 1983 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Federal Budget written by and published by . This book was released on 1980 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Deficit Government written by Iwan W. Morgan and published by Ivan R. Dee Publisher. This book was released on 1995 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A refreshingly clear analysis of the main trends of budget policy from the Roosevelt to the Clinton presidencies, focusing on federal expenditure and tax policies. "A fine short volume...it could not have come at a better time."--Library Journal.

Download or read book First Things First written by Don McIver and published by . This book was released on 2012 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current paper addresses the issue of how the tax system might be restructured to improve efficiency and effectiveness--whether or not simultaneous changes might be incorporated to affect equity outcomes. The essential starting point in devising an appropriate tax structure should be the identification of the necessary/appropriate level of public spending. In contrast to the normal budgetary process adopted by individuals and corporations--whereby anticipated revenues are first identified and then appropriate spending plans are generated--the government budgetary progression typically starts with a 'wish list' of desirable expenditure and then seeks to identify the revenue sources (taxes or borrowing) that can support the spending. Successful tax reform then must start with a thorough spending review. That may always have been the best course of action, but at a time when economic and demographic realities are constricting programs such as healthcare, education and pensions, it becomes even more essential to know what programs must be maintained and which ones can be cut. The most sustainable way forward is to forego spending on wants until our needs are fully met. Taxing more simply to fund things it is nice to have puts our priority programs, and the people who depend on them, at risk.

Download or read book The Economic Implications of the Long term Federal Budget Outlook written by Marc Labonte and published by . This book was released on 2008 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retirement of the baby boomers, rising life expectancy, and the rising cost of medical care are projected to place current federal policy on an unsustainable fiscal basis over the next several decades. Social Security outlays are projected to rise from 4.3% of gross domestic product (GDP) today to 6.1% of GDP in 2030, and Medicare and Medicaid outlays are projected to rise from 4.1% today to as much as 8.4% of GDP in 2030 and 12.5% of GDP in 2050. These increases in spending are not expected to subside after the baby boomers have passed away. Without any corresponding rise in revenues, this spending path would lead to unsustainably large budget deficits above 10% of GDP, which would push up interest rates and the trade deficit, crowd out private investment spending, and ultimately cause fiscal crisis. To avoid this outcome, taxes would need to be raised or expenditures would need to be reduced. Altering taxes and benefits ahead of time would reduce the size of adjustments required in the future, if the proceeds were used to increase national saving. (Making changes ahead of time would also allow individuals time to adjust their private saving behavior.) National saving can be increased by using the proceeds to pay down the national debt, purchase financial securities, or finance individual accounts. But if the budget savings is offset by new spending or tax cuts, the government's ability to finance future benefits will not have improved. Individual accounts financed by increasing the budget deficit, however, would not increase national saving or reduce the government's fiscal imbalance and could exacerbate the government's fiscal imbalance over the 75-year projection. Relatively small tax increases or benefit reductions could return Social Security to long-run solvency. Restraining the growth in Medicare and Medicaid spending is more uncertain and difficult, however. The projected increase in spending is driven more by medical spending outpacing general spending increases than by demographic change. But it is uncertain how to restrain cost growth because much of it is the result of technological innovation that makes new and expensive treatments available. If future medical spending grows more slowly than projected, then the long-term budget outlook improves dramatically. From a government-wide perspective, Social Security or Medicare trust fund assets cannot help finance future benefits because they are redeemed with general revenues. The reason revenues are not projected to rise along with outlays is that these programs are financed on a pay-as-you-go basis: current workers finance the benefits of current retirees. In the future, there will be fewer workers per retiree. Once a pay-as-you-go system is up and running and faced with an adverse demographic shift, there is no reform that can avoid making some present or future generation receive less than past generations. Under current policy, future generations will be made worse off by higher taxes or lower benefits. Under a reform that increases national saving, some of that burden would be shifted to current generations. Overall, current budget deficits remove the system's limited existing prefunding, exacerbating the future fiscal shortfall. Reducing the current budget deficit is the most straightforward and concrete step that can be taken today to reduce the future shortfall.

Download or read book Americans Preferences for Tax Increases and Spending Cuts written by Siona Robin Listokin and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We conducted a survey to assess Americans' preferences for revenue increases and spending cuts. A representative sample of 1,000 Americans completed the survey in December 2012. Respondents had a specific deficit reduction goal: cut the projected 2022 deficit by $900 billion, or by two-thirds. Approximately $2.1 trillion in savings were available. Our results suggest that Americans are willing to accept higher taxes and significant cuts to military and non-defense discretionary spending but are much more protective of Social Security and Medicare. This article explains the design of the survey, discusses the results, and compares those results with current deficit reduction proposals.

Download or read book Fiscal Therapy written by William G. Gale and published by Oxford University Press. This book was released on 2019-03-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keeping the economy strong will require addressing two distinct but related problems. Steadily rising federal debt makes it harder to grow our economy, boost our living standards, respond to wars or recessions, address social needs, and maintain our role as a global leader. At the same time, we have let critical investments lag and left many people behind even as overall prosperity has grown. In Fiscal Therapy, William Gale, a leading authority on how federal tax and budget policy affects the economy, provides a trenchant discussion of the challenges posed by the imbalances between spending and revenue. America is facing a gradual decline as debt accumulates and delay raises the costs of action. But there is hope: fiscal responsibility aligns with both conservative and liberal goals and citizens of all stripes can support the notion of making life better for our children and grandchildren. Gale provides a plan to make the economy and nation stronger, one that controls entitlement spending but preserves and enhances their anti-poverty and social insurance roles, increases public investments on human and physical capital, and raises and reforms taxes to pay for government services in a fair and efficient way. What is needed, he argues, is to balance today's needs against tomorrow's obligations. We face significant fiscal challenges but, if we are wise enough to seize our opportunities, we can strengthen our economy, increase opportunity, reduce inequality, and build better lives for our children and grandchildren. We do not have to kill popular programs or starve government. Indeed, one main goal of fiscal reform is to maintain the vital functions that government provides. We need to act responsibly, pay for the government we want, and shape that government in ways that serve us best.

Download or read book State of New York Executive Budget Governor s Budget Presentation written by New York (State). Governor and published by . This book was released on 1989 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Government Is Good written by Douglas J. Amy and published by Dog Ear Publishing. This book was released on 2011 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why a book defending government? Because for decades, right-wing forces in this country have engaged in a relentless and irresponsible campaign of vicious government bashing. Conservatives and libertarians have demonized government, attacked basic safety net programs like Medicare, and undermined vital regulations that protect consumers, investors, workers, and the environment. This book takes on this anti-government movement and shows that most of its criticisms of this institution are highly exaggerated, misleading, or just plain wrong. In reality, American government - despite its flaws - plays a valuable and indispensable role in promoting the public good. Most government programs are working well and are actually improving the lives of Americans in innumerable ways. Democratic government is a vital tool for making our world a better place; and if we want an America that is prosperous, healthy, secure, well-educated, just, compassionate, and unpolluted, we need a strong, active, and well-funded public sector. Part I: Why Government is Good. The section of the book describes how government acts as a force for good in society. One chapter chronicles a day in the life of an average middle-class American and identifies the myriad ways that government programs improve our lives. Other chapters describe the forgotten achievements of government; how government is the only way to effectively promote public values like justice and equality; and how a free market economy would be impossible without the elaborate legal and regulatory infrastructure provided by government. Part II: The War on Government. This section of the book chronicles the unrelenting assault on government being waged by conservative forces in this country. Chapters describe how cuts in social programs and rollbacks of regulations have harmed the health, safety, and welfare of millions of Americans and how these assaults have taken place on many fronts - in Congress, the administrative branch, and the federal courts, as well as on the state and local level. Also addressed: how the right's radical anti-government agenda is out of touch with the views and priorities of most Americans, and what the real truth is about government deficits. Part III: How to Revitalize Democracy and Government. There are, in fact, some problems with American government, and we need to address these if we are to restore Americans' faith in this institution. One of the main problems with our government is that it is not accountable and responsive enough to the public. Moneyed special interests too often win out over the public interest. Chapters in this section describe this problem and how we can fix it. There are several reforms - including public financing of elections - that could help our government live up to its democratic ideals. The final chapter discusses strategies for building a pro-government coalition in this country.