Wednesday, July 7, 2010

Taxes Will Rise Without Congressional Action

from "Why Taxes Are Going Up" by Donald Marron:
CBO’s bottom line is thus simple: tax revenues will rise faster than the economy even if Congress does nothing new. Indeed, revenues may rise faster than the economy even if Congress enacts substantial tax cuts. Our long-run fiscal dilemma exists because the scheduled growth in future spending is even larger than the scheduled growth in future revenues.
Read Marron's complete blog post here.


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