NC Budget and Tax Center, Uncategorized

Addressing the Federal Deficit by Ending the High-Income Tax Cuts

The Center on Budget and Policy Priorities put up a graph last week on the recent Congressional Budget Office’s analysis of ending the Bush tax cuts from 2001 and 2003 on income over $250,000.  The key finding is that ending these tax cuts would save almost $1 trillion over the decade. Compared to extending all the tax cuts, ending those cuts for the top 2 percent would save $823 billion in revenue and $127 billion on interest on the nation’s debt.  The graph here tells the story.

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Federal tax changes benefit the wealthy, reduce funding for NC communities

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