Desperately Seeking Revenue

Rosanne Altshuler, Katherine Lim and Roberton Williams ()
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Roberton Williams: Urban-Brookings Tax Policy Center

Departmental Working Papers from Rutgers University, Department of Economics

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.

Keywords: budget deficit; tax reform; individual taxation (search for similar items in EconPapers)
JEL-codes: H20 H60 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2011-05-18
New Economics Papers: this item is included in nep-pbe
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Citations: View citations in EconPapers (1)

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Journal Article: Desperately Seeking Revenue (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:rut:rutres:201121

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