The Corner

Dr. K’s “Swindle”

A reader and professional GOP Hill wonk writes:

The total “cost” according to congressional accounting is $850 billion.  Dr. K’s figure definitely includes the “cost” of just keeping current tax policies in place in 2011. Keeping the 2001/2003 tax cut laws in place, which is just preventing a tax increase, is $408 billion of what is being counted as the “cost” of this.  Preventing an unintended tax increase via an extension of the AMT path is another $137 billion of the “cost”.  The death tax provisions, which are a tax INCREASE compared to 2010, are $68 billion of his figure.  So that’s $613 billion right of the bat, and much more than the majority of the total package.  And then there are also smaller extensions of existing tax cuts also…

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