The Tax Foundation is the nation’s leading independent tax policy organization. For over 85 years, their goal has been to improve lives through tax policies that lead to greater economic growth and opportunity.
"I think I was wrong then about the path that inflation would take,” Treasury Secretary Janet Yellen said in late May when asked by CNN about her previous statement that rising inflation rates would be “transitory.”
Following the secretary’s striking admission there is renewed, if belated, discussion about the need for policies to address the nation’s historically high inflation rates. It isn’t yet clear, however, that the message has been heard by the current administration, whose proposed 2023 budget would make the United States’ top tax rates on individuals and corporations the highest in the world. As the Tax Foundation’s research has shown, this would further hamper the American economy precisely when its recovery and expansion are most necessary.
The real-world impact of such misguided policy is too often lost amidst increasingly obscure budget negotiations. And the insular nature of these back-room debates can make it easy for officials to lose sight of those least prepared to endure higher inflation.
It’s times like these that the Tax Foundation’s principled approach, rigorous research, and insightful analysis are most needed. And because Tax Foundation deals in facts, their research is respected by policymakers and journalists alike, which has widened the reach of their impact. The Foundation was by far the most-cited authority on tax policy in 2021, earning more than 30,700 citations. And considering the almost unbelievable 23 million pageviews their website saw the same year, it’s clear the Tax Foundation’s reach now extends far beyond policy wonks and academics.
As a nonpartisan, educational organization, the Tax Foundation’s data and analysis are used by hundreds of policymakers, influencers, and organizations to restore fiscal sanity and stability to government budgets. At a time when poorer families are bearing the brunt of reckless government spending, such broad opposition to bad tax policy is a matter not only of fiscal prudence, but of justice.