CHOOSING THE BEST MIX OF TAXES FOR PHILADELPHIA: AN ECONOMETRIC ANALYSIS OF THE IMPACTS OF TAX RATES ON TAX BASES, TAX REVENUE, AND THE PRIVATE ECONOMY
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FIGURE 15: Wages $125m Cut (Cumulative) $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 2004
2005
2006
2007
2008
2009
2010
Total Loss Wage Tax Revenue Change Property Tax Revenue Change Wage Tax Revenue Change + Property Tax Revenue Change
Wages $125m Cut (Cumulative) - in $ Millions Total Loss Wage Tax Revenue Change Property Tax Revenue Change Wage Tax Revenue Change + Property Tax Revenue Change
ECONSULT CORPORATION
$ $ $ $
2004 125 26 26
$ $ $ $
2005 250 54 38 92
$ $ $ $
2006 377 83 78 161
$ $ $ $
2007 505 157 120 277
$ $ $ $
2008 634 235 164 399
$ $ $ $
2009 764 318 211 529
$ $ $ $
2010 895 405 260 665
OCTOBER 2003