Monday, March 5, 2007

Tax Take

How much have the Bush Tax cuts cost the government? We had a balanced budget, then we got a tax cut, now we have debt. So how much are the cuts costing us? Don Boudreaux, GMU economist, gives us this little gem over at Cafe Hayek.

Uncle Sam today takes from Americans' pockets more than $2.5 trillion per year. In real dollar terms, this sum is 50 percent higher than what Bill Clinton's government took during its first year in office and 25 percent higher than what George W. Bush's government took during its first year.

We had a balanced budget at the end of the Clinton years. We now bring in 25% more money after inflation. We now have a huge debt. My guess? Spending went up.


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