President Obama’s Tax Proposals Could be Sharply Improved

By Jorge Rivas Apr 11, 2009

United for a Fair Economy (UFE), a non-partisan organization working to reduce economic equality, has released a report that concludes that President Obama’s tax proposals could be sharply improved. "Safe, Fair and Sustainable: Do President Obama’s Tax Proposals Measure Up?" studies several proposals contained in Obama’s budget and rates them on key criteria like financial security, fairness, and revenue. The report analyzes the proposals in President Obama’s FY2010 budget and compares them to a set of tax proposals from the Institute for Policy Studies (IPS) in its report, "Reversing the Great Tax Shift: Seven Steps to Finance Our Economic Recovery Fairly." UFE’s report finds that with increased taxes on the wealthy, Obama’s plan would be able to raise about $300 billion more per year. It also finds that Obama’s proposals could be more progressive, making taxpayers who have more wealth and income pay a higher rate. Finally, UFE finds that Obama’s proposal could do much more to reduce the tax incentives that led to the recent crisis on Wall Street. The UFE report is available from UFE’s website, to viewclick here. The IPS report is also available .