Where were Republican deficit-hawks when the Bush Adminstration cut taxes, costing as much as $2.5 trillion?
According to left-leaning Citizens For Tax Justice, the Bush tax cuts cost two and a half times as much as the House Democrats’ health care proposal:
CTJ: Newly revised estimates from Citizens for Tax Justice show that the Bush tax cuts cost almost $2.5 trillion over the decade after they were first enacted (2001-2010). Preliminary estimates from the non-partisan Congressional Budget Office show that the House Democrats’ health care reform legislation is projected to cost $1 trillion over the decade after it would be enacted (2010-2019).
Conservatives, of course, argue tax cuts have a stimulative effect.
But even they seem to concede the basic maths here. For example, as Huffington Post notes, the Heritage Foundation agreed with Paul Krugman’s June estimate that even high estimates of the health care plan are “less than the $1.8 trillion cost of the Bush tax cuts.” That’s even less than the $2.5 trillion figure used by CTJ.
Here’s the report:
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