Budget Assumes Permanent Tax Cuts

[Terri]

By JIM ABRAMS
Associated Press
February 5, 2008

WASHINGTON (AP) -- President Bush's tax-and-spending blueprint calls for making 2001 and 2003 tax cuts permanent but assumes that tens of millions of taxpayers eventually will be paying higher alternative minimum tax rates.

Those two assumptions could affect some $1 trillion in revenues over the next five years.

The budget outline presented Monday envisions the loss of $635 billion in revenues over the next five years if Congress makes permanent those tax cuts involving capital gains, the repeal of the estate tax, breaks for married couples and those with children and individual income tax rates. Over 10 years the tax cuts -- many set to expire in 2010 if Congress does not act -- will cost $2 trillion.

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[makamends]

How is it that we believe we can borrow 160 billion dollars and distribute that into the economy for a stimulus return of .6 on the dollar and disbelieve 2 trillion dollars left in the economy will not perform the same function?

[schillerbjr]

One can never "assume" anything with the bunch of Dems running the House & Senate!!