Macro Musings with David Beckworth cover image

Brian Riedl on the Current and Future Outlook for US Public Finance and Budget Reform

Macro Musings with David Beckworth

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The Middle Class Is the Tax Base That Pays Most of the Bills

The fiscal gap grows to 6% of GDP over the next 30 years. Some tax payroll tax and value added tax are the only ones that raise any real significant revenue relative to the gap we face. When you do the tax the rich stuff, the amounts are really small as a share of GDP.

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