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The Economic and Fiscal Effects of the Obama Tax Plan

Abstract: On January 1, 2013, the Bush tax cuts will expire and other new taxes that congressional leaders have recognized would damage the economy will take effect. President Barack Obamaโ€™s proposal to increase taxes on only โ€œhigh-income earnersโ€ would also be economically destructive, reducing economic output by an average of $196 billion per year over 2013โ€“2022 relative to current tax policy. Congress and the President would better serve the country by reforming the tax code in a pro-...
United States Johnl Ligon Barack Obama Revenue Service National Income Heritage Foundation

How Health Care Reform Will Affect Young Adults

Both of the current House and Senate health care bills disproportionately burden younger, healthier Americans with higher insurance premiums. To ensure that these young people buy health insurance anyway, Congress has decided to nudge them into purchasing insurance by enforcing a penalty for those who fail to buy coverage. Heritage Foundation analysts estimate that many under age 35 will opt out of buying insurance altogether, choosing to pay the penalty instead. If younger workers do not join t...
United States Oliver Wyman Current Population Lewin Group Heritage Foundation Expenditure Panel

Finding the Truth in Federal Data

Imagine trying to work out the family budget with two different sets of books when they show a dramatically different bottom line. Which could you rely on? Welcome to the world of federal data - which can drive researchers and policy-makers crazy. For example, on Nov. 30, the Bureau of Labor Statistics released the new consumer expenditures figures for 2003. The Labor Department says more than 115 million households spent an average of $40,817 on goods and services last year, totaling some $4.7 ...
United States Tom Nardone Shailesh Bhandari John Snow Current Population Division Of Labor Force Statistics

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