MAKE A MEME View Large Image Impact of Bush Tax Cut Extension.png Impact of permanent Bush tax cut extension including estate tax<br/> Overview Permanent extension of the Bush tax cuts adds about 2 of GDP to the deficit The following two quotes are included in a ...
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Keywords: Impact of Bush Tax Cut Extension.png Impact of permanent Bush tax cut extension including estate tax<br/> Overview Permanent extension of the Bush tax cuts adds about 2 of GDP to the deficit The following two quotes are included in a September 2010 Congressional Research Service CRS report <ref>http //fpc state gov/documents/organization/148790 pdf Congressional Research Service-The Bush Tax Cuts and the Economy-September 2010</ref> Figure 5 displays the trend in federal deficits as a percentage of GDP from 1980 to 2020 Under current law the federal deficit is projected to decline from 9 2 of GDP in 2010 to 3 of GDP by 2020 If all the Bush tax cuts are permanently extended including the repeal of the estate tax the deficit is projected to be 5 1 of GDP in 2020 and on a clearly unsustainable path of increasing deficits Neither of the projections take into consideration likely annual changes to the alternative minimum tax AMT with a projected 10-year cost of about 1 500 billion The Bush tax cuts are scheduled to expire at the end of 2010 and the tax parameters revert back to their 2000 values the current law baseline Some policymakers have proposed to permanently extend the Bush tax cuts CBO estimates that permanently extending the tax provisions of EGTRRA and JGTRRA would increase the deficit by 1 215 billion over five years and by 3 312 billion over 10 years Congressional Research Service Congressional Research Service / Uploaded by Farcaster talk 17 13 12 December 2010 UTC economy Reflist PD-USGov Original upload log en wikipedia Impact+of+Bush+Tax+Cut+Extension png 2012-03-08 22 58 Chris3145 960×720× 97892 bytes Changed title as explained on talk page 2012-03-08 22 57 Chris3145 960×720× 97892 bytes Changed title as explained on talk page 2010-12-12 17 06 Farcaster 960×720× 80649 bytes ~~~~~ Uncategorized 2014 May 23
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