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Politicians Duck Consequences of Tax Deal till 2011
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With this week's hard-fought agreement on a $70 billion tax-cut extension, President Bush and congressional Republicans have effectively set a date for a fiscal day of reckoning for the next president and a future Congress: Jan. 1, 2011. . . . At that moment, politicians would face a choice: Either allow taxes to rise suddenly and sharply on everyone who pays income taxes, is married, has children, holds stocks and bonds, or expects a large inheritance, or impose mounting budget deficits on the government far into the future, according to projections by the nonpartisan Congressional Budget Office. ( Washington Post [1], Thursday)
The political version of kick the can.
FEE Timely Classic
What Big Government Is All About [2] by David Boaz
Article printed from Foundation for Economic Education: http://www.fee.org
URL to article: http://www.fee.org/articles/in-brief/politicians-duck-consequences-of-tax-deal-till-2011/
URLs in this post:
[1] Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2006/05/03/AR2006050302244.html
[2] What Big Government Is All About: http://www.fee.org/publications/the-freeman/article.asp?aid=3599
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