Distribution of the 2001 and 2003 Tax Cuts and Their Financing

Research Report

Distribution of the 2001 and 2003 Tax Cuts and Their Financing

Abstract

Popular discourse about tax cuts frequently ignores a simple truism: Someone, somewhere, at some time will have to pay for them. The payment may be in the form of increases or reductions in government programs; it may occur now or later; it may be transparent or hidden. But iron laws of arithmetic and fiscal solvency imply that the payment has to occur.

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