A $130 Billion No-Tax Prescription for the Budget Deficit

Publication Date: May 1990

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): Scott A. Hodge

Research Area: Banking and finance

Keywords: Taxes

Type: Report

Abstract:

Behind calls for new taxes are the assumptions that the federal budget already has been cut to the "bare bones," that every program is running as efficiently as possiile, and that every program senres vital national goals that cannot be accomplished by state and local governments or by the private sector. These assumptions are false.In fact, Heritage Foundation analysts have identified over $130 billion in spending cuts and budget savings that could be made without harming programs comprising the social "safety net."