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THE ULTIMATE BURDEN OF THE TAX CUTS
Once the Tax Cuts are Paid for, Low- and Middle-Income Households
Likely To Be Net Losers, on Average
By William G. Gale, Peter R. Orszag, and Isaac Shapiro[1]Summary
Press Release: HTM | PDF
Summary: HTM | PDF
If you cannot access the files through the links, right-click on the underlined text, click "Save Link As," download to your directory, and open the document in Adobe Acrobat Reader. Popular discussions about the advisability of recent tax cuts have frequently ignored a simple truism: someone, somewhere, at some time will have to pay for them. The payment may be in the form of increases in other taxes, reductions in government programs, or some combination of the two; the payment may occur now or later; it may be transparent or hidden. But iron laws of arithmetic and fiscal solvency tell us that the payment has to occur.