First, the total cost of these policies, in billions of dollars. As it's easy to see, the extension of the Bush tax cuts do the most damage on the revenue ledger of the federal government. Total extension costs $750 billion over two years, while the Democrats' favored policy of extending all but the top rates costs $670 billion. The other major tax provision - an...
REDUCED TAXES "COST" NOTHING. The only way you can associate a "cost" with NOT raising taxes is to assume that the Government need and deserves that money more than the people who earned it.
As an accompaniment to the earlier report on the Congressional Budget Office's analysis of the fiscal cliff, here are some charts to help visualize what kind of effect that the policies under discussion will have.
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