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Sunday, September 27, 2009

CTJ: Six Progressive Tax Options to Finance Health Care Reform

Citizens for Tax Justice has released Review and Comparison of Six Progressive Options to Finance Health Care Reform:

This report compares the revenue impact and distributional effects of six progressive revenue measures that have been discussed by members of Congress in recent months as options for financing health care reform. Several of the revenue measures analyzed here are the subjects of previous reports from Citizens for Tax Justice, while others are variations on those options that have been put forward by lawmakers during the ongoing debate over health care reform.

All of the six revenue measures examined here would make our tax system fairer, which is badly needed after the regressive tax cuts enacted over the past several years.

http://taxprof.typepad.com/taxprof_blog/2009/09/ctj-.html

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Comments

The Administration's proposal to cap the benefit of itemized deductions appears to be defectively implemented, as described by Kaye Thomas at http://www.fairmark.com/news/09092102-deduction-limit-amt.htm

According to the JCT's description of the proposal, AMT payers who are already limited to 28% benefit will have that benefit reduced further. Kaye Thomas shows an example where the benefit drops to 16.4%.

Fixing this defective implementation may be difficult, because the defect increased the scored revenue. The fix will therefore create a revenue shortfall.

Posted by: AMTbuff | Sep 28, 2009 11:42:26 AM