New Podcast: “TaxGirl” on Expiring Tax Cuts, President’s Budget

This week’s podcast guest is Kelly Phillips Erb, also known as Tax Girl, a Philadelphia-based tax attorney and blogger. Erb discusses the pending expiration of provisions in the 2001 and 2003 tax cuts and what the expect from President Obama’s budget, which is scheduled to be released next week.

“The bottom line is that higher-income taxpayers are going to be paying more money,” she says, but acknowledges that “the capacity that upper-income-level taxpayers have for continuing to give give give is going to be limited.” At the same time, taxpayers from all income brackets are feeling the squeeze:

We’re trying to get blood from a turnip here on the lower end. Middle-class Americans just don’t have any more money to give. But I don’t think the answer is then, ‘Let’s just take it from those who are making more money.’ There has to be some adjustments to spending.

Listen to the full podcast here or check out all of the Tax Foundation’s Tax Policy Podcasts.