President’s Budget Would Reduce Deficits by Raising Taxes on the Wealthy and Corporations
While this budget would be a step in the right direction, it does not adequately address the underlying structural imbalance that defines our fiscal outlook.
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While this budget would be a step in the right direction, it does not adequately address the underlying structural imbalance that defines our fiscal outlook.
“It makes no sense that we allow programs as essential as Social Security and Medicare to remain on such shaky and uncertain fiscal ground," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
There is one cap for national defense and another cap for non-defense programs.
"Our tax code is long past due for an overhaul, and there are many ways to improve it in a sustainable way," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.
“It’s critical that budget proposals fully address the structural drivers of our debt in order to stabilize it over the long run," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2023/03/peterson-foundation-statement-on-presidents-budget
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
The Financial Times and the Peterson Foundation have wrapped up a year-long initiative to track voter sentiment on economic and fiscal issues.
“After adding trillions to our national debt in last year’s irresponsible tax bill, our leaders are now adding another $300 billion in deficits over just the next two years," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/02/peterson-foundation-statement-on-budget-deal
“Across party lines, overwhelming majorities of voters are deeply concerned about the $33 trillion and growing national debt, and they want their leaders to take action,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/10/fci-press-release