Reforming taxes and raising revenue: Part of the fiscal solution

William G. Gale*, Benjamin H. Harris

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

3 Scopus citations

Abstract

This paper reviews the fiscal outlook in the United States, discusses why revenue increases are a critical aspect of any enduring fiscal solution, and outlines constructive policies to reform the tax system and simultaneously raise revenues. In particular, this paper highlights the merits of curtailing income tax expenditures, introducing a value-added tax, and imposing levies on consumption and production of non-renewable energy.

Original languageEnglish (US)
Pages (from-to)563-588
Number of pages26
JournalOxford Review of Economic Policy
Volume27
Issue number4
DOIs
StatePublished - Dec 2011
Externally publishedYes

Keywords

  • Budget outlook
  • Carbon tax
  • Energy tax
  • Fiscal policy
  • Tax expenditures
  • Tax reform
  • Value-added tax

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

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