Tax cut time bomb
President George W. Bush and Congress planted a time bomb in the federal budget, and they're about to light the fuse. The largest parts of the tax cuts passed in 2001 and 2003 didn't activate immediately, but were designed to kick in later this decade. If they go forward, the cuts will lik...
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| Published in | Dollars & Sense no. 252; p. 39 |
|---|---|
| Main Author | |
| Format | Newsletter Magazine Article |
| Language | English |
| Published |
Somerville
Economic Affairs Bureau
01.03.2004
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| Subjects | |
| Online Access | Get full text |
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| Abstract | President George W. Bush and Congress planted a time bomb in the federal budget, and they're about to light the fuse. The largest parts of the tax cuts passed in 2001 and 2003 didn't activate immediately, but were designed to kick in later this decade. If they go forward, the cuts will likely cripple or destroy the social programs that form the cornerstone of the federal welfare state. Even worse, the Bush administration is now pushing to make permanent virtually all of the 2001 and 2003 tax cuts, which were originally set to expire by 2010. |
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| AbstractList | President George W. Bush and Congress planted a time bomb in the federal budget, and they're about to light the fuse. The largest parts of the tax cuts passed in 2001 and 2003 didn't activate immediately, but were designed to kick in later this decade. If they go forward, the cuts will likely cripple or destroy the social programs that form the cornerstone of the federal welfare state. Even worse, the Bush administration is now pushing to make permanent virtually all of the 2001 and 2003 tax cuts, which were originally set to expire by 2010. Scharf discusses the impact of Pres George W. Bush and Congress' plan to making tax cuts permanent. If Bush administration go forward, the cuts will likely cripple or destroy the social programs that form the cornerstone of the federal welfare state. |
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| Author | Scharf, Adria |
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| Copyright | COPYRIGHT 2004 Economic Affairs Bureau Economic Affairs Bureau Copyright Economic Affairs Bureau Mar/Apr 2004 |
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| Snippet | President George W. Bush and Congress planted a time bomb in the federal budget, and they're about to light the fuse. The largest parts of the tax cuts passed... Scharf discusses the impact of Pres George W. Bush and Congress' plan to making tax cuts permanent. If Bush administration go forward, the cuts will likely... |
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| Title | Tax cut time bomb |
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