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Publication Date: January 2007
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Brian M. Riedl
Research Area: Banking and finance; Economics
Keywords: Taxes; 110th Congress
Type: Report
Coverage: United States
Abstract:
The 110th Congress must decide whether to write a budget extending, expiring, or repealing the Bush tax cuts. Repealing the Bush tax cuts would not significantly increase revenues. It would, however, decrease investment, reduce work incentives, stifle entrepreneurialism, and reduce economic growth. Lawmakers should remember that America cannot tax itself to prosperity.