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Retirees Beware: Don't Worry About The British-- 2013 Is Coming, Douglas A. Kahn, Lawrence W. Waggoner
Retirees Beware: Don't Worry About The British-- 2013 Is Coming, Douglas A. Kahn, Lawrence W. Waggoner
Articles
Retirees beware. The easy money policy of the Federal Open Market Committee and the 15 percent tax rate on qualified dividends have encouraaged retirees, especially middle-income retired savers, to reorient their nest eggs away from certificates of deposit, treasuries, and money market funds to dividend-paying stocks and mutual funds. According to the IRS, 43 percent of taxpayers age 65 or older reported qualified dividend income amounting to nearly half of the qualified dividend income reported by all taxpayers. By contrast, 46 percent of taxpayers age 65 or older reported net capital gains amounting to 30.5 percent of the net capital …
Reforming The Tax Code: A Tale Of Two Purposes And Paralysis, Gene Magidenko
Reforming The Tax Code: A Tale Of Two Purposes And Paralysis, Gene Magidenko
University of Michigan Journal of Law Reform Caveat
Though the presidential election of 2012 is still some time away, national politics have been in the thick of one for several months now. One of the top issues being debated is the tax code. Most agree that the tax code should be simplified, but to say that the proposals to do this are various is an understatement. This perennial question of reform has been a fixture of the national debate for a long time, so little of what can be said about it is particularly novel. All the same, a brief overview of the purposes behind our system of …
The Tax Revenue Capacity Of The U.S. Economy, James R. Hines Jr.
The Tax Revenue Capacity Of The U.S. Economy, James R. Hines Jr.
Book Chapters
The United States imposes smaller tax burdens than do other large high-income countries, its 24.8 percent ratio of tax collections to GDP in 2010 representing the lowest fraction among the G-7. The United States also differs from other G-7 countries in relying relatively little on expenditure-type taxes. It follows that there is significant unused tax capacity in the United States that could be deployed to pay the country’s debts, but that the most promising source of additional tax revenue is expenditure taxation that is widely perceived to have very different distributional features than the income taxes on which the U.S. …