Interesting and poignant article in Bloomberg Businessweek on the expiring George W. Bush tax cuts from 2001 and 2003.
The Democrats want to keep all except those for the super rich. The Republicans want to keep them all.
The difference in savings is only a trillion. A trillion you might say, is that not a lot? Well, for the United States whose budget for 2010 is 3.5 trillion not really. Also, former Fed Chairman Greenspan is not in favor of either idea.
A nice graph is given with the article: http://www.businessweek.com/magazine/tax-cuts/
Advertisement
