How Much Did the Bush Tax Cuts Cost in Forgone Revenue?

Using CTJ's numbers, if one assumes that 20 percent of the tax cuts paid for themselves (overall), the non-interest cost would be approximately $1.7 trillion. If one assumes that half of the tax cuts paid for themselves (which we would consider to be a pretty extreme assumption), then the tax cuts would have cost around $1 trillion over the past 10 years. Full Story »

Posted by Kelly McBride
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Posted by: Posted by Kelly McBride - Aug 2, 2010 - 8:23 PM PDT
Content Type: Article
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Edited by: Jon Mitchell - Aug 3, 2010 - 8:15 AM PDT

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Jon Mitchell
3.4
by Jon Mitchell - Aug. 3, 2010

I think this is an interesting read to get a grip on a systematic way of thinking about income tax. I like that they used the numbers from an organization with which they disagree philosophically, with a caveat. I think that alone makes their analysis more or less believable.

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Kelly McBride
2.8
by Kelly McBride - Aug. 2, 2010

These authors seem to know what they are talking about. But I'm not sure who they are. I could check their "about page" to get more information. But even then, I've never heard of them. Since they're talking about stuff that is hard for me to grasp, I really have no personal resources to judge the veracity of their conclusions.

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Margaret McGowan
3.2
by Margaret McGowan - Aug. 4, 2010

It does not answer its own question, but gives quite a bit of data. They examine the "feedback effect" of tax cuts but don't resolve the extent of the feedback.

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  • The boom that wasn’t: The economy has little to show for $860 billion in tax cuts

    Since 2001 President Bush and congressional leaders have promised that enacting each of a series of tax cuts would strengthen the economy by bringing faster growth, more jobs, ...
    Posted by Kelly McBride