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Bush-era tax cuts will cost US nearly $1 trillion over next decade

from The Huffington Post

Keeping tax cuts for the wealthy could cost the U.S. big time. Letting the Bush-era tax cuts of 2001 and 2003 expire on schedule at the end of 2012 would bring the government nearly $1 trillion in revenue over the next 10 years, according to a new report from the Congressional Budget Office. That's $823 billion in added revenue and $127 billion in interest to be exact, for a total $950 billion in 10-year deficit reduction. more


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