In this week's edition of The Taxpayer's Tab, NTUF showcased our latest research concerning the Organization for Economic Cooperation and Development's (OECD's) latest suggestions for American policymakers.
The OECD is a multi-national partnership comprised of 34 member nations devoted to improving the global economy and fostering greater well-being. Every two years, it releases an Economic Survey for each member country, noting prevailing economic trends and recommendations for policy reforms that, in OECD's view, would address some of the issues inhibiting further growth.
For American taxpayers concerned with government spending, the 2014 edition focusing on the U.S. offers a mixed bag of proposals. On the one hand, the OECD urges Congress to make individual income tax filing simpler, and again points out that corporate income taxes in the U.S. are among the highest in the world and should be reduced. But, the Organization also would like to see the U.S. price carbon emissions, increase the federal minimum wage, and expand programs like the Earned Income Tax Credit, all of which would require quite a bit of new spending.
All told, if the OECD's recommendations were enacted, it would add up to $68 billion in new spending for U.S. taxpayers.
Which of the OECD's suggestions would cost the most to implement? And how much are you paying right now just to fund the OECD's operations? You can find out in the latest edition of The Taxpayer's Tab.