Browsing by Author "Uddin, Thamina"

Now showing 1 - 3 of 3
  • Thumbnail Image
    Item
    Federal Liabilities: 2024 Update
    (Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Rettenmaier, Andrew; Uddin, Thamina
    The 2023 Financial Report of the United States Government identifies total federal liabilities of $42.9 trillion as of September 30, 2023, marking a 10% increase from 2022. The federal debt and interest payable of $26.4 trillion comprised 62% of these liabilities. Federal employees’ accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees’ expected Social Security and Medicare benefits – an additional $36.5 trillion in liabilities. Together, the official liabilities plus current retirees’ accrued Social Security and Medicare benefits total $79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt’s share of GDP.
  • Thumbnail Image
    Item
    Federal Liabilities: 2024 Update
    (Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Rettenmaier, Andrew; Uddin, Thamina
    The 2023 Financial Report of the United States Government identifies total federal liabilities of $42.9 trillion as of September 30, 2023, marking a 10% increase from 2022. The federal debt and interest payable of $26.4 trillion comprised 62% of these liabilities. Federal employees’ accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees’ expected Social Security and Medicare benefits – an additional $36.5 trillion in liabilities. Together, the official liabilities plus current retirees’ accrued Social Security and Medicare benefits total $79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt’s share of GDP.
  • Thumbnail Image
    Item
    Taxation in the Fifty States: A Comparative Analysis with Special Attention to Texas
    (Private Enterprise Research Center, Texas A&M University, 2025-01-29) Jansen, Dennis W.; Uddin, Thamina
    Taxpayers in the US are subject to taxation at three levels: Federal, State, and Local. While federal taxes are imposed uniformly across all the states, state, municipal and sales taxes vary widely. Here, PERC's Montgomery Professor Dennis W. Jansen and PERC Graduate Student Thamina Uddin provide a comprehensive comparison of the taxation burden across the fifty states and the District of Columbia, focusing on the use and distribution of property, sales, and income taxes to Personal Income for the years 2013-2021.