Desperately Seeking Revenue

Rosanne Altshuler, Katherine Lim and Roberton Williams

National Tax Journal, 2010, vol. 63, issue 2, 331-51

Abstract: In August 2009 the Congressional Budget Office 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 five years of the current 10-year budget window. We conclude that feasible tax increases within the current tax structure cannot generate sufficient revenues to bring federal budget deficits under control.

Date: 2010
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Working Paper: Desperately Seeking Revenue (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:63:y:2010:i:2:p:331-51

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