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

Posted By Alexandra Sirota On August 28, 2012 @ 12:17 pm In NC Budget and Tax Center,Uncategorized | Comments Disabled

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 [1] tells the story.

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URL to article: http://pulse.ncpolicywatch.org/2012/08/28/addressing-the-federal-deficit-by-ending-the-high-income-tax-cuts/

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[1] here: http://www.offthechartsblog.org/cbo-ending-high-income-tax-cuts-would-save-almost-1-trillion/

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