Comments on: A TRILLION! http://www.outsidethebeltway.com/archives/a_trillion/ Online Journal of Politics and Foreign Affairs Thu, 26 Nov 2009 03:22:53 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: John Lemon http://www.outsidethebeltway.com/archives/a_trillion/comment-page-1/#comment-1491 John Lemon Wed, 31 Dec 1969 18:00:00 +0000 /?p=1787#comment-1491 It may be even worse than Brett argues. Assume for a minute that the Democrats wanted to raise tax rates, let's say to a top marginal tax rate of 75%. Let's further argue that the top tax bracket would have been defined at $50,000 gross annual income. And let's not only think about the next few years, but let's think about our children's children and project the COST of Bush's horrendous tax program some 50 years in the future. And let's also assume that people don't respond to changes in the tax code and tax rate by altering their work/leisure tradeoff. Relative to all of that, this tax cut could cost us ** QUADRILLIONS ** of dollars. It may be even worse than Brett argues. Assume for a minute that the Democrats wanted to raise tax rates, let's say to a top marginal tax rate of 75%. Let's further argue that the top tax bracket would have been defined at $50,000 gross annual income. And let's not only think about the next few years, but let's think about our children's children and project the COST of Bush's horrendous tax program some 50 years in the future. And let's also assume that people don't respond to changes in the tax code and tax rate by altering their work/leisure tradeoff. Relative to all of that, this tax cut could cost us ** QUADRILLIONS ** of dollars.

]]> By: Steven http://www.outsidethebeltway.com/archives/a_trillion/comment-page-1/#comment-1492 Steven Wed, 31 Dec 1969 18:00:00 +0000 /?p=1787#comment-1492 I thought the same thing when I read Brett's post. Indeed, let them run around and talk about how Bush wants to cut taxes by a Trillion Dollars. I am sure the voters will be running the Democratic Party! :) --- I thought the same thing when I read Brett's post. Indeed, let them run around and talk about how Bush wants to cut taxes by a Trillion Dollars. I am sure the voters will be running the Democratic Party! :)

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