Economic Train Wreck Ahead
Posted by: Peter Brombergs UnBlog,
on 31 Jan 2012 |
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The amount of money the federal government takes out of the U.S. economy in taxes will increase by more than 30 percent between 2012 and 2014, according to the Budget and Economic Outlook published today by the CBO. At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes. Between 2012 and 2014, revenues in CBOs baseline shoot up by more than 30 percent, mostly because of the recent or scheduled expirations of tax provisions, such as those that lower...