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How to Think About Tax Policy (TFU Week 1)

Welcome to Tax Foundation University, a free, 5-lecture series designed to equip policymakers and taxpayers with valuable and timely insights on tax policy and economics. In the first of five sessions, we’ll explain how to view the economy, the role that taxes play in the economy, and the various measures economists use to talk about the impact of taxes, including growth, wages, and employment. Our experts will explain how the various tax cuts have different impacts on the U.S. economy and how specific tax changes grow or shrink GDP by changing incentives to work and invest. This session will also introduce you to the Tax Foundation’s General Equilibrium Model, used to estimate the economic, revenue, and distributional effects of tax policy changes, as well as the other major tax models in use today. Areas of Focus: 1. Basics of GDP and National Accounting 2. A Basic Model of the Economy 3. How Taxes Impact the Economy 4. Short Review of the Major Tax Models Learn more at: https://taxfoundation.org/university #economics #tax #economy