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Publications on Economy/Taxes

War and Taxes, to be released May 6 by the Urban Institute Press, chronicles the political arguments, economic conditions, and public opinions that made it possible for previous presidents and Congresses to raise taxes, sell bonds, and cut domestic spending to pay for wars. The authors contrast the tax hikes enacted to support previous military operations with the extraordinary tax cuts Americans have enjoyed during the current wars in Afghanistan and Iraq—all without overstating previous generations' enthusiasm for wartime sacrifice.

The history of America’s tax system can be written largely as a history of America’s wars. During World War II, Americans were urged to ration food, raise money, and accept higher taxes. After September 11, we were given tax cuts and asked to shop. Has the United States broken a noble tradition of fiscal sacrifice with the current, unprecedented wartime tax cuts, or are they the mark of new economic, and social forces at work? War and Taxes weighs the question by considering six conflicts that span the American Revolution to the present war in Iraq.

In 2004, 36.6 million people--or 12.6 percent of the U.S. population--were poor. The "poverty gap"--the amount of additional income required to remove all Americans from poverty--was $105.6 billion. Poverty rates were highest for African Americans, Hispanics, women, and persons under 25. Without government benefits, 61 million people would be poor. Social Security and other social insurance programs remove 21 million people from poverty. Means tested programs remove 3 million people from poverty. If food and housing assistance were counted as income for poverty purposes, an additional 7.6 million people would be counted as not poor.

The run-up to the Pennsylvania primary raised many questions about capital gains and the effects tax-rate changes have on revenues. How significant are the candidates' differences? And how will raising or lowering the tax rate affect middle-class Americans?

Presumptive Republican presidential nominee Sen. John McCain wants to suspend the federal gas tax for the summer travel season. Truckers say they like the idea. In this Marketplace commentary, Len Burman, Director of the Tax Policy Center explains why Senator McCain’s proposal won’t get us where he wants to go. http://marketplace.publicradio.org/display/web/2008/04/17/burman_commentary/