Heller-Hurwicz Economics Institute
Heller-Hurwicz Economics Institute
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Who Cheats on Taxes A discussion on tax compliance in US private businesses
Who Evades Taxes? Understanding the U.S. Tax Gap (September 2024)
Americans underpay federal taxes every year. Underpayments are seen across business types, industries, taxpayer ages, and income groups. But some groups are less compliant than others. The presentation will break out these groups and discuss how the IRS estimates the tax gap, possible limitations of these estimates, implications for GDP, and the puzzle of stable compliance rates despite falling audit rates.
Despite numerous efforts to enhance third-party reporting and reduce the tax gap, underreported business incomes in the United States, particularly among pass-through entities, remain significantly high. According to recent data from IRS filings and audit compilations, national accountants at the BEA estimate that 34 percent of pass-through income, approximately $700 billion in 2018, was not reported in tax filings. This research addresses the central issue of financing government spending while accounting for these substantial levels of tax evasion. To tackle this challenge, researchers adopt a broader perspective on estimating the impacts of increased enforcement, considering not only the expected changes in taxable incomes and collections but also the broader effects on the business environment and the macroeconomy.
For instance, heightened enforcement could influence business entry and exit rates, employment numbers, ownership structures, operational scope, legal form choices, and balance sheet composition. In the grander scheme, it is crucial to examine the general equilibrium effects of significant changes such as the IRA, which includes a doubling of the IRS enforcement budget and a targeted focus on high-income returns and complex business filings.
Our speakers:
David Splinter is a senior economist at the Joint Committee on Taxation, U.S. Congress. For over a decade, he has estimated the revenue effects of policy changes to immigration, payroll taxes, and child tax credits. His research focuses on income inequality, income mobility, and tax progressivity-and recently, the distribution of Covid relief and the progressive wage recovery.
Anmol Bhandari is the Carter-Schwab Associate Professor of Economics at the University of Minnesota, where he has taught since 2015. He is also a consultant at the Federal Reserve Bank of Minneapolis and research associate at NBER. He served as president of the Minnesota Economics Association. His research centers on public finance, asset pricing, and quantitative macroeconomics.
มุมมอง: 16

วีดีโอ

Taxes, Tariffs, and Trade Economic Policy in the Once and Future Administration
มุมมอง 18514 วันที่ผ่านมา
Economic Policy was a hot topic in the recent presidential campaign. Watch this December 3, 2024 conversation for an impromptu and informal discussion on the possible economic policies of the incoming Trump administration, focusing on tariffs, taxes, and trade. Our discussion features Professors Timothy Kehoe and Christopher Phelan from the University of Minnesota Department of Economics.
Roundtable: How employers are using market power to underpay workers
มุมมอง 9514 วันที่ผ่านมา
Watch our September 2024 discussion of the economic research behind, and the legal and policy implications of, the newly released Merger Guidelines. In late 2023, the Federal Trade Commission and Department of Justice revised their Merger Guidelines, and lowered the threshold for labor market concentration, making clear that the labor market concentration is going to be an important factor in a...
Does the Fed Need to Cause a Recession to Reduce Inflation
มุมมอง 17314 วันที่ผ่านมา
Hear Gary Stern, V.V. Chari, and moderator Chris Farrell share insights on the current burst of inflation in this January 2024 webinar hosted by the University of Minnesota Heller-Hurwicz Economics Institute. In hindsight, Larry Summers' 2022 prediction that "we need five years of unemployment above 5 percent to contain inflation" seems wrong. But why? Tom Sargent argued that inflation and wage...
Beyond Nature and Nurture Exploring early choices and genetic influences on school outcomes
มุมมอง 2114 วันที่ผ่านมา
In conversations about educational achievement, questions about what shapes our life outcomes persist. This event, with speakers Anusha Nath of the Minneapolis Federal Reserve and Aldo Rustichini of the University of Minnesota, attempts to identify whether genetics or life choices hold more weight in the direction of our lives. This event explores educational achievement and outcomes using two ...
US Debt Ceiling Reining in the Leviathan or Mutually Assured Destruction
มุมมอง 18014 วันที่ผ่านมา
Raise the debt ceiling or pay the bills? Economists Chris Phelan, Marco Bassetto and Cristina Arellano discuss the looming debt limit deadline, and what the risk of default may mean for the US economy. Recording sourced from our webinar held on May 24, 2023.
Here we go again? Silicon Valley Bank and the current banking crisis
มุมมอง 386ปีที่แล้ว
March 29, 2023 Discussion with VV Chari, Terry Fitzgerald, Christopher Phelan. Hosted at the University of Minnesota campus, Minneapolis MN. For full transcript visit HHEI.umn.edu
Climate Policy in Economics
มุมมอง 3392 ปีที่แล้ว
September 22, 2022 policy forum featuring speaker Per Krusell.
The Critical First Years: From Research to Policy
มุมมอง 962 ปีที่แล้ว
Heller-Hurwicz spring roundtable with experts Katherine Magnuson (Institute for Poverty Research, University of Wisconsin), Victor Ronda (Center for the Economics of Human Development, University of Chicago) and Ericca Maas (Close Gaps by 5) with moderator Art Rolnick (professor emeritus, retired director of research at Federal Reserve Bank of Minneapolis).
Bob Litterman Outstanding Achievement Award
มุมมอง 2563 ปีที่แล้ว
Celebration and conferral of award November 1, 2021 McNamara Alumni Center, Minneapolis MN
Heller Hurwicz 2021
มุมมอง 2533 ปีที่แล้ว
The role of economists in today's world is to make all lives better. The world needs smart research in the right hands more quickly. That's why we have Heller Hurwicz.
HHEI Undergraduate Research Showcase 2021
มุมมอง 1983 ปีที่แล้ว
HHEI Undergraduate Research Showcase 2021
Congratulations Class of 2021
มุมมอง 1773 ปีที่แล้ว
Featuring special messages from Professor Christopher Phelan, graduate student instructor Amy Handlan, Assistant Professor Joseph Mullins, Assistant Professor Hannes Malmberg, academic advisors Tiffany Murphy and Annie Bigley, and director of undergraduate studies Simran Sahi.
HHEI Roundtable: The Economics of COVID-19
มุมมอง 643 ปีที่แล้ว
The Heller-Hurwicz Economics Institute hosted a virtual spring roundtable, second in a series bringing economic perspectives to the COVID-19 pandemic. Our speakers shared insights from their research as the pandemic continues into a second year. How is this recession affecting women differently than past recessions? What do we know now that we didn't a year ago about the effectiveness of social...
HHEI Fall Webinar: Understanding Inequality
มุมมอง 6924 ปีที่แล้ว
HHEI Fall Webinar: Understanding Inequality
The Economics of COVID-19
มุมมอง 2574 ปีที่แล้ว
The Economics of COVID-19
HHEI Undergraduate Showcase
มุมมอง 1514 ปีที่แล้ว
HHEI Undergraduate Showcase
2020 Undergraduate Research Highlights
มุมมอง 844 ปีที่แล้ว
2020 Undergraduate Research Highlights
HHEI Webinar: Two Economists Weigh In on the Digital Future, 5/6/2020
มุมมอง 2614 ปีที่แล้ว
HHEI Webinar: Two Economists Weigh In on the Digital Future, 5/6/2020
VV Chari acceptance March 2020
มุมมอง 3744 ปีที่แล้ว
VV Chari acceptance March 2020
The Four Horsemen of the Economic Revolution
มุมมอง 2.3K5 ปีที่แล้ว
The Four Horsemen of the Economic Revolution
D.C. Panel on Retirement Systems
มุมมอง 495 ปีที่แล้ว
D.C. Panel on Retirement Systems
Building a Better Retirement System NYC
มุมมอง 245 ปีที่แล้ว
Building a Better Retirement System NYC
Building a Better Retirement System
มุมมอง 585 ปีที่แล้ว
Building a Better Retirement System
Heller-Hurwicz Economics Institute
มุมมอง 1816 ปีที่แล้ว
Heller-Hurwicz Economics Institute
Honoring Distinguished Economist Anne Krueger
มุมมอง 1936 ปีที่แล้ว
Honoring Distinguished Economist Anne Krueger
Lessons from Sovereign Debt
มุมมอง 3286 ปีที่แล้ว
Lessons from Sovereign Debt
Climate (and Other) Catastrophes
มุมมอง 1077 ปีที่แล้ว
Climate (and Other) Catastrophes
Honoring Distinguished Economist Daniel McFadden
มุมมอง 8417 ปีที่แล้ว
Honoring Distinguished Economist Daniel McFadden
Trump, Trade, and the Future of NAFTA
มุมมอง 1127 ปีที่แล้ว
Trump, Trade, and the Future of NAFTA

ความคิดเห็น

  • @user-my1ws7ft8n
    @user-my1ws7ft8n 14 วันที่ผ่านมา

    Oh Heller yeah

  • @fredericko5832
    @fredericko5832 ปีที่แล้ว

    🙏 'promo sm'

  • @paddyg56472
    @paddyg56472 ปีที่แล้ว

    The banks can't handle interest rate hikes. They want eed a zero interest loan. The Federal Reserve needs to make sure banks are not at a high risk status. Now we see how fragile the system is and that is scary. I applaud this discussion.

  • @marsiellarikard9004
    @marsiellarikard9004 2 ปีที่แล้ว

    𝓹𝓻𝓸𝓶𝓸𝓼𝓶 🌈

  • @rickysem
    @rickysem 5 ปีที่แล้ว

    Hello, when I first saw this there were 8 views, now it's up to 13 views. Sorry but that was all me. I would like to say that the discussion was very insightful. Especially since I live in Korea as an expat. I am very limited to information. Anyways, I understand most of the discussion focusing on benefits for public workers. And how to balance paying into retirement and maintaining benefits. I heard Greg talk about N.J. a lot and the stress test was done on retirement systems in different states. I learned about Deborah's contest or challenge at her university to solve the retirement problem. Also, I like her financial engineering concept and how she termed the phrase "THE SILVER BULLET" And through Kurt, I learned a bit about the pros and cons of getting the current system to work better. I have been working on this dilemma as well, for the last 5 years. While you guys have all the best inside information and are seated at the table to influence change, I have been wrapping my mind of developing a new retirement system. But our definition of 'new retirement system' seems very different. While you guys (i mean no disrespect by saying 'you guys') work on policies and laws to tweak the current retirement system. I've been working on a completely new retirement system. I will not get into too many details about my version of a new retirement system, but we are on different spectrums. I want to give people their retirement check at age 50, my retirement system would include everyone private sector, public sector and people who do not fit in either category. I realize and apologize I am not disclosing important details. I don't think this is the place or forum to expose all the details. But I assure you, I have given 5 years of thought and had my idea validated by people of equal education such as yourself, masters & Ph.D. holders. My version of a new retirement system is literally a new retirement system that can co-exist with the current retirement system at the state or national level, albeit Social Security, 401K or IRAs. What every hybrid version states are using, my idea is a new retirement system. Nobody seems to be discussing this. Haas institute printed a report that stated: all arguments presented for adjusting, tweaking, and whatever changes needed to be made to the current system are all strong arguments. But nobody is discussing making a new system. Well, I have! Melbourne Mercer put out a report listing about 15 things that countries have to do to improve their pension system. Such as an increase in retirement age. My idea for a new retirement system does not require increasing age. another suggestion mentioned is to increase personal savings. My idea for a new retirement system does increase personal savings for all social levels. including people on food stamps. Another suggestion mentioned is transparency, well my retirement system includes transparency through a phone app or web browser. I just want to put my idea out as well. I am not proclaiming my idea is better, there are far more intricate details I would have to decipher. I don' t have resources like you guys have, but based on my cobblestone of information I've been able to piece together, I have all the ingredients for the making of a 'Smart Retirement System'. A SILVER BULLET Deborah has mentioned. I enjoyed listening and also writing out this commentary. It has helped me organize my thoughts better. I tip my hat to each of you.

  • @kaysree71
    @kaysree71 6 ปีที่แล้ว

    Some stuff and a lot of fluff. So many words are spoken to convey little meanings. If the props were taken out, this would be a meaningless presentation. Answers to questions in Q&A section amplify that and questions themselves show bias. China's growth, communism or not, is inevitable; and it's slump from 1800 to 1990 is an aberration, caused more by China being weak in military and by foreign invasion. They were among the top 2 economies in the world until 1800, and that is where they will be going forward for the foreseeable future.

  • @JelsQuiahTV
    @JelsQuiahTV 6 ปีที่แล้ว

    dope video

  • @ChineseEconomicHistorycom
    @ChineseEconomicHistorycom 8 ปีที่แล้ว

    An excellent presentation of China's recent economic growth and international investment flows by two outstanding macroeconomists / growth economists. We recommend this educational semiar for anyone interested in China's economy - www.ChineseEconomicHistory.com

  • @TheDavidlloydjones
    @TheDavidlloydjones 8 ปีที่แล้ว

    It seems to me that most discussions of health care in the US are bogus for two reasons. First, two different issues are conflated, the insurance function, or how does payment get done, and second, how is medicine governed. Nobody would assume that auto insurance adjusters had more that gross and clumsy control over gross amounts paid and the attempt to keep crime associated with car accident repairs down to a dull roar. Yet Americans blindly assume that insurance executives, who know as much about medicine as Aetna knows about spark plugs, should control medicine in detail. This is nuts. It isn't "he who pays the piper calls the tune," and anyway insurance companies aren't paying anybody anything. they're collecting, hand over fist, just like everybody else in the American meds racket. America has two medical disasters, not one. Payment is one, and Obamneycare is the first step toward fixing it. Governance is the other. America does not have freedom of enterprise or the ferments of competition, variety, and free initiative. It is simply a swamp of bureaucracy, commercial profit-taking and rent-seeking, with a thick stinking slice of corruption everywhere. That's governance. It simply isn't being faced. The other question is income redistribution. Income inequality shows up dramatically in different levels of health and life-expectancy. These are stratified by social class. The rich are healthier than the poor, and they (we) live longer. I cheerfully plan, with only a soupcon of light doubt, what I'm going to be doing when I'm 110. The poor hope with some desperation, to collect their pensions for a few meager years. Government financed health care is a major effort to rectify this wrong -- promoted by those of us who see it as a wrong. Many people don't see it as a wrong. They see it as Nature's Way, or something of the sort. "What's mine is mine" s the beginning and end of their economic knowledge. Until the American health insurance debate is seen as different from the health care problems, and until the provision of universal health care is seen for what it is, a provision of justice, supplied by what it is, a major redistribution of income -- until these conditions are met, nothing said on the subject will be honest, or even sensible. Americans need to stop pussy-footing around. This is socialism, just as much as pensions, schools, and roads are socialism. -dlj.

  • @TheDavidlloydjones
    @TheDavidlloydjones 8 ปีที่แล้ว

    Now that you've passed Kjetil 101, you are ready for the Turkish and Welsh g and y, respectively, circumflex. -dlj.