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...
When referring to govt revenues, please do not use the word "COSTS" . This implies that they have money of their own to spend. Cutting taxes and expenditures not cost the govt anything. It reduces the amount of taxpayer $$$ they nedd or can spend. Using these terms makes it sound like we are saving money when in actuality it is the taxpayers who burden the COSTS!!!!
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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