Saturday, January 23, 2010
Get Ready for a New Tax
In order to cut the deficit to 2% of GDP, the Tax Policy Center thinks that there will need to be help from more than just income tax. Rosanne Altshuler, Katherine Lim and Roberton Williams talked about three different tax proposals such as "raising all tax rates proportionally; raising only the top three income tax rates; and raising rates only for couples with income over $250,000 and singles with income over $200,000." However, they realized that this would not be beneficial in decreasing the deficit unless the tax rates were extremely high so the best bet would to be to decrease government spending.
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2 comments:
I read this article. I think raising taxes in such economic conditions is not a good idea at all. As it is people are saving, and raising taxes would reduce their income by a larger amount.
I agree also, i do not think that it would be beneficial especially since there are so many people out of jobs and so many others who are not getting paid as much.
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