I. What’s the Debt? How big is the U.S. national debt? Some reports say that it’s $36 trillion and others say it’s $29 trillion. The two numbers may cause some confusion but both are correct. They simply measure two different…
This week the Senate Budget Committee released a plan that would add nearly $6 trillion to the national debt and simply ignore the roughly $4 trillion cost of extending several expiring tax cuts because they are “current policy,” while tacking…
September 4, 2024 Download PDF In 1994, President Clinton appointed us to co-chair the Bipartisan Commission on Entitlement and Tax Reform. We were hopeful that Congress and the President would come together on a plan to put the budget on…
Introduction According to the Congressional Budget Office (CBO), the federal government will continue to face a large and growing shortfall between taxes and spending, resulting in a rising level of federal debt held by the public.[1] This debt will crowd…
Introduction According to public opinion polls, most Americans believe the rich do not pay their fair share of taxes.[1] While these polls do not reveal what the public believes a fair share would be, many pundits and politicians suggest history…
On March 11, President Biden transmitted to Congress his proposed budget for FY 2025. Although a Republican-controlled House means the Biden budget has little chance of enactment without significant modification, it represents an important starting point for negotiations and is…
A Panel Discussion on January 19, 2024, hosted by the Warren B. Rudman Center for Justice, Leadership & Public Service at the UNH Franklin Pierce School of Law When: January 19, 2024, 12:00 to 1:30 pm Where: Panel discussion in Room G85…
Introduction According to public opinion polls, the most popular way to “fix” Social Security is by taxing the rich, specifically by increasing or eliminating the limit on wages subject to the Social Security payroll tax.[1] Despite the populist appeal of…
Download the pdf: Taxing-Social-Security-Benefits.pdf Introduction Prior to 1984, Social Security benefits were exempt from federal income taxes. Based on the recommendation of the 1983 Greenspan Commission, Congress enacted legislation to require Social Security beneficiaries with income above certain thresholds to pay…
Download the pdf: History and Future of the Social Security Trust Fund_ Part I Read Part II Read Part III Introduction Social Security is probably the most widely discussed but least understood government…