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Where can I get the total amount of the Bush tax cuts?

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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-19-10 08:05 AM
Original message
Where can I get the total amount of the Bush tax cuts?
What I have been finding are the arguments for and against them when I use Google search, but not the amounts. However, I remember seeing the totals of both amounts at the time.
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-19-10 08:16 AM
Response to Original message
1. It was estimated that the tax cuts have cost $3.5 trillion so far and will cost an additional
$4 trillion to keep in place for the next decade. I think that was from the CBO. However, here's some different takes:

http://www.politifact.com/truth-o-meter/statements/2009/jun/24/paul-krugman/bush-tax-cuts-health-care-probably/

"The left-leaning Center on Budget and Policy Priorities agrees with Krugman. The center's 2009 report on the Bush tax cuts states:

"The 2001 and 2003 tax cuts added about $1.7 trillion to deficits between 2001 and 2008. Because they (were) financed by borrowing — which increases the national debt — this figure includes the extra interest costs resulting from that additional debt. This figure also includes the cost of 'patching' the Alternative Minimum Tax to keep the tax from hitting millions of upper-middle-class households, a problem the tax cuts helped cause. Over the next decade (2009-2018), making the tax cuts permanent would cost $4.4 trillion, assuming that the tax cuts remain deficit-financed."

http://www.newshounds.us/2010/03/22/cavuto_overlooks_bush_tax_cuts_to_scaremonger_about_health_care_bill.php

As Media Matters noted, The CBO projected that George W Bush's 2001 Economic Growth and Tax Relief Reconciliation Act would "reduce projected total surpluses by approximately $1.35 trillion over the 2001-2011 period." The CBO estimated that bill, the tax cut bill, would cost $1.22 trillion in its first 10 years.

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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-19-10 08:20 AM
Response to Reply #1
2. here is a question i have had.... what is the increase in the deficit over the past 10 years
in conjunction with the 3.5 trillion the tax cuts cost us>
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-19-10 09:14 AM
Response to Reply #2
3. I don't think that's what you mean. I think you're asking what the increase in the
Edited on Tue Oct-19-10 09:21 AM by sinkingfeeling
national debt has been over the past 10 years. But here's two charts on both. The first is the national debt from 1938 to 2012. The last shows the yearly deficits run by each President. Here's an excellent source of information and graphs:

http://cedarcomm.com/~stevelm1/usdebt.htm




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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-19-10 10:48 AM
Response to Reply #3
4. it shows two things...
1. war is money. i notice that since vietnam the deficit has skyrocketed while before that it is really low.
2. republicans seem to LIKE deficits just fine since they raise them when in office.
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