Brookings: Topics - Alternative Minimum Tax

Tax Reform’s Challenges and Opportunities

Fri, 05 Dec 2008 08:45:00 GMT

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December 05, 2008, 8:45 AM to 4:30 PM

A new administration presents an ideal opportunity to reshape the nation’s tax code. Improving the equity, simplicity and efficiency of the tax system will help to better prepare taxpayers, businesses and the economy for the challenges that lay ahead. Brookings, the Urban-Brookings Tax Policy Center and Tax Analysts co-hosted a forum to explore timely policy recommendations for the incoming president and his transition team.

The Scouting Report: Fix the Tax System

Wed, 03 Dec 2008 12:30:00 GMT

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December 03, 2008, 12:30 PM to 1:30 PM

The U.S. tax code is too complex, often supports misguided incentives, and raises inadequate revenue to support government spending. William Gale, vice president and director of Economic Studies, answered questions in a live web chat with Politico's Jeanne Cummings, chief lobbying and influence writer, about strengthening and improving our nation’s tax code.

The Tax System: Too Complex, Unfair and Outdated

Thu, 15 May 2008 00:00:00 GMT

Stimulus checks are a bright note in this year’s tax season. But, William Gale asserts, the annual tax-filing ritual is otherwise complicated and outdated. He recommends that the presidential candidates advocate changes like streamlining tax incentives and allowing some taxpayers to pay without filing returns.

Opportunity 08: Better Direction on Main Street

Mon, 03 Dec 2007 10:15:00 GMT

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December 03, 2007, 10:15 AM to 12:00 PM

From the individual alternative minimum tax (AMT) to an unstable mortgage market, many middle-class American families are at risk of losing their footing in today’s economy. Saving rates are at an all-time low and rising health premiums can render basic care unaffordable to even full-time workers. Opportunity 08 explores what the next President can and should do to promote individuals’ economic success and a sound middle class.

2016: Too Long to Wait for Tax Reform

Wed, 07 Nov 2007 00:00:00 GMT

Simplifying a complex and inequitable tax system can take years, history has shown. Jason Furman urges prompt action now that the new Ways and Means tax reform proposal offers a solid starting point.

Fixing the Tax System: Support Fairer, Simpler, and More Adequate Taxation

Wed, 28 Feb 2007 00:00:00 GMT

A good tax system raises the revenues needed to finance government spending in a manner that is as simple, equitable, stable, and conducive to economic growth as possible. But the challenge for the next President will be to make reform work not just in the abstract, but in the real world, where special interests often rule the roost. The next President should support reforms that would tax all income once (only) at the full tax rate, simplify and streamline the tax code, and, of course, raise sufficient revenues.

Options to Fix the Alternative Minimum Tax

Fri, 19 Jan 2007 00:00:00 GMT

The individual alternative minimum tax (AMT) was originally designed to limit the amount of tax sheltering that taxpayers could pursue and to assure that high-income filers paid at least some tax. The current AMT, however, has strayed far from those original goals. Under current law, the tax will affect over 23 million taxpayers in 2007—many of them solidly middle-class—and mainly for reasons that have little or nothing to do with what most people would consider tax sheltering.

The Tax Reform Panel Report: "Blueprint for Change?"

Thu, 03 Nov 2005 09:00:00 GMT

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November 03, 2005, 9:00 AM to 11:30 AM

The Urban-Brookings Tax Policy Center hosted a presentation and discussion on the findings of the President's Advisory Panel on Federal Tax Reform, assessed their potential impact on American taxpayers and the chance of success in Congress. Participants included William Frenzel and Charles O. Rossotti, senior members of the panel.

Tax Reform Options in the Real World

Sat, 01 Oct 2005 00:00:00 GMT

The basic description of a desirable tax system is broadly accepted: It should raise the revenues needed to finance government spending in a manner that is as simple, equitable, stable, and conducive to economic growth as possible. Although people agree that the current system clearly falls short of at least some of these goals, it is not easy to point to examples around the world that work much better. In addition, how the system should be reformed is subject to enormous controversy. People define the underlying goals differently—notions of fairness, for example, are clearly "in the eyes of the beholder." People disagree on the most effective policies for attaining a particular goal, such as more economic growth. And most importantly, people have differing value judgments, which make agreement on policy almost impossible in the nearly ubiquitous case where there are tradeoffs among the goals.

The Cost of Tax Cuts

Sun, 19 Sep 2004 00:00:00 GMT

Article by William G. Gale and Peter R. Orszag, Minneapolis Star Tribune (9/19/04)

Overdrawn Account

Wed, 04 Feb 2004 00:00:00 GMT

William Gale and Peter Orszag examine the president's 2004 budet proposal, his tax cut proposals, and offer their own suggestions for balancing the budget over time.

The Federal Budget Outlook

Tue, 03 Feb 2004 00:00:00 GMT

Testimony by Peter R. Orszag (2/3/04)

Key Points on Making the Bush Tax Cuts Permanent

Wed, 21 Jan 2004 00:00:00 GMT

William Gale and co-authors examine the effects of making President Bush's tax cuts permanent.

Key Points on the Alternative Minimum Tax

Wed, 21 Jan 2004 00:00:00 GMT

Opinion by Leonard E. Burman, William G. Gale, Jeffrey Rohaly, and Matthew Hall, Tax Policy Center (1/21/04)

The AMT: Projections and Problems

Mon, 07 Jul 2003 00:00:00 GMT

William Gale and co-authors provide new projections of AMT taxpayers and revenues, and use the projections to examine some broader implications for tax policy and the AMT.

Thinking Through the Tax Options

Tue, 13 May 2003 00:00:00 GMT

This article evaluates the 3 tax cut proposals by President Bush, the House of Representatives, and the Senate Finance Committee, and considers alternatives.

Fix a Real Tax Mess

Thu, 14 Nov 2002 00:00:00 GMT

With the elections now behind them, the Bush administration and congressional Republicans are salivating at the possibilities for more tax cuts. Already, party leaders have advocated accelerating and making permanent the 2001 tax cut, repealing the corporate tax, creating new tax subsidies for investors and businesses, and so on. But before the victors embark on another costly round of tax cuts, they should clean up the mess created by previous tax-cutting efforts.

The Individual AMT: Problems and Potential Solutions

Wed, 18 Sep 2002 00:00:00 GMT

Discussion Paper No. 5 by Leonard E. Burman, Senior Fellow, Urban Institute, William G. Gale, Senior Fellow, Brookings Institution, Jeffrey Rohaly, Research Associate, Urban Institute, and Benjamin H. Harris, Research Assitant, Brookings Institution,

The AMT: Out of Control

Wed, 18 Sep 2002 00:00:00 GMT

Urban-Brookings Tax Policy Center Policy Brief by Leonard E. Burman, Senior Fellow, Urban Center, William G. Gale, Senior Fellow, Jeffrey Rohaly, Research Associate, Urban Center, and Benjamin H. Harris, Research Assistant, Brookings Institution, Sep

Evaluating President Bush's Tax Stimulus Package

Tue, 09 Oct 2001 00:00:00 GMT

Paper by William Gale, Senior Fellow, and Peter Orszag, Senior Fellow, The Brookings Institution, October 9, 2001

Tax Simplification: Issues and Options

Mon, 10 Sep 2001 00:00:00 GMT

Article by William G. Gale, Tax Notes (9/10/01)