By Nassau Research, LLC
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Debt Bomb is your guide to the United States' fiscal troubles.
The national debt and ongoing federal deficits are significant problems, but what could they mean for the American people? There have been calls to increase taxes on the wealthy in order to reduce some of these deficits, but these would not be enough to put America on a sustainable course.
Nassau Research designed Debt Bomb to help you understand how the United States’ fiscal problems could harm younger generations. Debt Bomb allows you to build a profile of a household and then projects how much more in taxes an average household with this profile would have to pay if Congress were to implement broad-based tax increases and forgo spending cuts in order to control rising deficits. These tax increases would involve raising rates for each tax bracket proportionally, except those for the Alternative Minimum Tax. Drawing on its economic expertise, Nassau Research created an extensive model of the tax code and household income profiles using large public data sources in order to produce these projections.
Debt Bomb offers you the chance to learn more about the origins of these debt problems and the way forward. You can also contact your elected representatives using the app’s directory.
What's New in Version 1.1
This update adds advanced functionality to Debt Bomb. Users can now calibrate the tax model to account for the fact that taxpayers may adjust their behavior in response to higher marginal tax rates. This behavioral response would lead to less government revenue than what would be expected under a "static" tax model and requires tax rates to be even higher to meet revenue targets.
Nation is in a fiscal meltdown, we must prepare for our own future Federal tax projections DEBT BOMB app. does this for you easily no matter where you reside, it calculates your $ figure with higher tax rates and summarizes both the scenario of balanced budget and sustainable deficits with easy to understand 10 year graphics! It helps you put the impending "DEBTBOMB" crisis in perspective, educates and encourages you to take your concerns to Congress. Essential tool for all taxpayers, investors and tax preparers.