Taxing the wealthy : arguments and analysis / Joseph M. Boeneke, editor.

Format:

Book

Contributor:

Boeneke, Joseph M., editor.

Series:

Economic issues, problems and perspectives series.

Economic Issues, Problems and Perspectives

Language:

English

Subjects (All):

Rich people--Taxation--United States.

Rich people.

Income tax--United States.

Income tax.

Physical Description:

1 online resource (72 p.)

Place of Publication:

New York, [New York] : Nova Science Publishers, Inc., 2011.

Summary:

This book explores the debate over whether the top two marginal tax rates should be permitted to rise back to their 2001 levels - from the current 33 per cent back to 36 per cent, and from the current 35 per cent back to 39.6 per cent. The analysis takes into account the relationship between the top tax rates on ordinary income, the tax rate on capital gains and dividends and the alternative minimum tax. Arguments for raising the tax rates on high-income taxpayers start with the need to raise additional revenue and to signal the beginning of an effort by the United States to reduce its deficit. This policy is viewed as collecting revenue from taxpayers with the most income, who received the biggest Bush tax cuts, and who are least likely to reduce their consumption spending or work effort in response to an increase in their marginal tax rate.

Contents:

TAXING THE WEALTHY: ARGUMENTS AND ANALYSIS; TAXING THE WEALTHY: ARGUMENTS AND ANALYSIS; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: RAISING THE TAX RATES ON HIGH-INCOME TAXPAYERS: PROS AND CONS; SUMMARY; INTRODUCTION; THE BUSH TAX CUTS; THE OBAMA ADMINISTRATION'S UPPER-INCOME TAX PROPOSALS; TAX CUTS BY INCOME CATEGORY UNDER THE ADMINISTRATION AND REPUBLICAN PROPOSALS; RAISING THE TAX RATES ON HIGH-INCOME TAXPAYERS; Arguments for Allowing the Top Rates to Rise; Revenue; Ability to Pay; The Rich are Less Likely to Spend Their Tax Savings

High-Income Earners Not Expected to Reduce Their Work Effort MuchArguments Against Allowing the Top Rates to Rise; Bad Timing in a Weak Economy; Cut Spending Instead of Raising Taxes; New Medicare Surtaxes on Wage and Investment Income of High-Income Taxpayers Were Recently Enacted; Higher Tax Rates Would Encourage Shift toward Lower-Taxed Forms of Compensation; Negative Incentive for Small Business; Higher Tax Rates Increase Economic Distortions and Tax Evasion; TAX RATES ON CAPITAL GAINS AND DIVIDENDS; Recent Law; Historical Justifications; Analysis

APPENDIX A. COMPARISON OF THE BUSH TAX CUTS, PRIOR LAW, AND THE OBAMA ADMINISTRATION PROPOSAL, BY TAX PROVISIONAPPENDIX B. INCOME TAX RATE SCHEDULES FOR 2010; APPENDIX C. PROPOSED INCOME TAX RATE SCHEDULES FOR 2011 UNDER THE OBAMA ADMINISTRATION PROPOSAL; End Notes; Chapter 2: THE BUSH TAX CUTS AND THE ECONOMY; SUMMARY; INTRODUCTION; ECONOMIC AND BUDGETARY ENVIRONMENT; The Economy; THE FEDERAL BUDGET; THE BUSH TAX CUTS; Revenue Loss from the Bush Tax Cut Provisions; Distributional Effects of the Bush Tax Cut Provisions; OPTIONS REGARDING THE BUSH TAX CUTS; Obama Administration Proposal

Temporary Extension of Some or All Bush Tax Cut ProvisionsAPPENDIX. THE SUITS INDEX; End Notes; CHAPTER SOURCES; INDEX; Blank Page

Notes:

Includes index.

Description based on online resource; title from PDF title page (ebrary, viewed October 5, 2016).

ISBN:

1-62100-486-4