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Publication Date: November 1983
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Thomas M. Humbert
Research Area: Banking and finance
Keywords: Taxes
Type: Report
Abstract:
Congress and the President have heard promises before of massive budget cuts i n return for a package of tax compliance and "loophole closing" measures. In falling for the 1982 bargain, Americans bought a lemon--a package which gave them a tax increase but failed totally to deliver on the budget cuts. Senator Kasten is now asking Senator Dole to complete the first bargain by cutting $167 billion from spending before Congress contemplates the next one. What could be more teasonable than this?