Performance Budgeting and Management White Papers
Many Middle-Class Families Likely to Wind Up as Net Losers From the "Middle-Class" Tax-Cut Legislation
Overview To date, all of the tax cuts enacted since 2001 have been financed by borrowing, which has contributed to higher deficits. But financial markets will not indefinitely tolerate large, persistent deficits of the type that the nation is projected to face. Whether middle-class households ultimately come out ahead or behind from the legislation will depend on whether they lose more from the measures that eventually are adopted to pay for the tax cuts than they gain from the tax cuts themselves. The precise results will depend on the specific measures adopted.
| Publisher | Center on Budget and Policy Priorities | File Format | PDF, requires Acrobat Rdr 5 |
|---|---|---|---|
| Date Published | September 2004 | Downloads | 1 |
| Format | White Papers | ||
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