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How to Measure the Revenue Impact of Changes in Tax Rates

Chart 2: Wealthy Taxpayers Rely Less on Wage and Salary Income Than Any Other Income Class
Chart 3: Changes In Tax Rates Have Little Effect on Revenues
Chart 4: Rich Pay More Following 1920s Tax Cuts
Chart 5: Rich Paid More Under 1960s Kennedy Tax Cuts
Chart 6: Reagan Tax Cuts Generated 31% More Tax Revenue From the Wealthy
Chart 7: Higher Tax Rates, Lower Revenue
Introduction
One of the most important fiscal policy debates developing in this election involves the question of whether changes in tax policy have supply-side effects. In other words, will lower tax rates increase economic growth, resulting in more jobs, higher wages, and bigger profits? If the answer is yes meaning that lower tax rates cause taxable income to rise it is reasonable to argue that a tax cut will be at least partially self-financing. The extent to which increased revenue from a bigger tax base helps offset the revenue loss from lower tax rates then becomes an empirical qu ....

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Term Limits: The Only Way to Clean Up Congress

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INTRODUCTION
The movement to limit political terms is steamrolling through American politics. Voters have approved term limits for Congressmen in each of the fifteen states where referenda have been held, with votes averaging over 66 percent in support, and another four to ten states will permit their citizens to vote on congressional term limits this November. If past elections and current polls are any indication, these proposals also will pass easily. In addition, eighteen states and hundreds of cities and counties across the country have adopted term limits for state and local officials.
Such substantial public support suggests widespread distaste for careerism in politics, as well as a conviction that continual infusion of fresh blood into the federal legislature will be good for both the Congress and the country. Support for term limits extends to significant majorities of diverse demographic groups: polls show that majorities of men, women, bla ....

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