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Tax Reform as a Path to Growth-Friendly Fiscal Consolidation

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Ed Dolan
Ed Dolan

This slideshow explains how tax reform (lowering tax rates while broadening the tax base) can stimulate US economic growth while at the same time reducing the federal deficit

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Free Slides from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Tax Reform as a Path to Growth-Friendly Fiscal Consolidation Post prepared October 28, 2010 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics , from BVT Publishers.
G20 Finance Ministers Turn “Growth-Friendly” ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ . . . in advanced countries, formulate and implement clear, credible, ambitious and growth-friendly medium-term fiscal consolidation plans . . .
What is Fiscal Consolidation? ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
The Primary Balance as a Sustainability Indicator ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
The Difficulty of Countercyclical Fiscal Policy ,[object Object],[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
Can Fiscal Consolidation be “Growth-Friendly?” ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ *IMF, World Economic Outlook, October 2010, Ch. 3, “Will It Hurt?” Free pdf download from www.IMF.org
Exceptions: Denmark and Ireland ,[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
Limits to Spending Cuts ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/
Limits to Raising Tax Rates within the Existing Tax System ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ The complete Tax Policy Center study is available at http://www.taxpolicycenter.org/UploadedPDF/412018_seeking_revenue.pdf
Closing the Budget Gap through Tax Reform ,[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Ronald Reagan signs the Tax Reform Act of 1986, which aimed to improve incentives by lowering high marginal tax rates Public domain photo downloaded from Wikimedia Commons http://commons.wikimedia.org/wiki/File:Reagan_Tax.jpg
Idea No. 1: Closing Loopholes and Preferences ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ The complete Tax Policy Center study is available at http://www.taxpolicycenter.org/UploadedPDF/1001234_tax_expenditures.pdf
Idea No. 2: A Carbon Tax ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Source: EPA Image source: Energy Information Administration
Idea No. 3: A Value Added Tax ,[object Object],[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ The Tax Policy Center study on VAT is available at http://www.taxpolicycenter.org/UploadedPDF/412062_VAT.pdf
The Bottom Line ,[object Object],[object Object],Post P101028 from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/

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Tax Reform as a Path to Growth-Friendly Fiscal Consolidation

  • 1. Free Slides from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Tax Reform as a Path to Growth-Friendly Fiscal Consolidation Post prepared October 28, 2010 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics , from BVT Publishers.
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