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President’s Expected Push to Make Tax Cuts Permanent is Irresponsible Fiscal and Economic Policy
Publication Date: January 2008
Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): Aviva Aron-Dine
Special Collection: John D. and Catherine T. MacArthur Foundation
Topic: Banking and finance (Taxation and tax policy)
Economics (Economic policy, planning, and development)
Keywords: Economic projections; Tax code; Economic inequality; Fiscal future
Type: Report
Abstract:
In recent weeks, Administration officials have offered three major arguments for this policy--(1) the tax cuts yielded strong economic growth over the past few years, (2) extending them would help the economy overcome its current weakness, and (3) extending them would improve the economy’s performance over the long run. None of these claims bears up well under scrutiny.