Tag Archive: Savings


on June 8, 2016 in World News

CBO: President Obama’s 2017 Budget Would Discourage Work, Savings

Tax proposals would hamper investment, pass on higher costs to consumers BY: Ali Meyer Follow @DJAliMeyer President Obama’s proposed 2017 budget would discourage work and hamper savings, according to an analysis by the Congressional Budget Office. According to the report, Obama’s budget plan would increase marginal tax rates on labor income from 0.7 percentage points to 0.9 percentage points between 2017 and 2026, which would ultimately increase the rate to 31.8 percent in 2026. This move would discourage work by reducing the supply of labor and lowering economic output. “The type of tax rate that most directly affects decisions...

Tax proposals would hamper investment, pass on higher costs to consumers BY: Ali Meyer Follow @DJAliMeyer President Obama’s proposed 2017 budget would discourage work and hamper savings, according to an analysis by the Congressional Budget Office. According to the...

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