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Draft: To Spend Is to Tax

Posted on August 24, 2008

We economists have a scenario that we call current policy plus Bush tax cuts. It is made up of (i) the laws currently in force in the United States of America, plus (ii) the assumption that the defense, veterans, and other spending currently appropriated year-by-year by the congress remains the same as a share of GDP, plus (iii) the assumption that the tax breaks like the R&D credit and the regular pruning-back of the Alternative Minimum Tax that are voted for year by year by overwhelming congressional majorities continue to be enacted year-by-year, plus (iv) the assumption that the tax cuts...

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alternative minimum , budget , economy , gdp , inflation , tax , taxes