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URL:  https://boards.fool.com/raising-the-tax-on-the-over-250k-crowd-gets-30379019.aspx

Subject:  Re: The Working Class Date:  11/13/2012  3:04 PM
Author:  TMFSpeck Number:  110888 of 173178

Raising the tax on the over 250K crowd gets bupkis

The CBO respectfully disagrees. As do I:

The budgetary cost of extending the expiring tax provisions would be lower if certain provisions were allowed to expire that otherwise would apply to some high-income households. According to JCT and CBO's estimates, if the AMT was indexed for inflation beginning in 2012 and all of the other expiring tax provisions were extended except for the specific provisions affecting high-income taxpayers (and the payroll tax cut), revenues would be lower and outlays for refundable credits would be higher than $288 billion in fiscal year 2013 and by $382 billion in fiscal year 2014, compared with CBO's baseline projections.

CBO estimates that such changes would increase real GDP by 1.3 percent (by 0.3 percent to 2.3 percent under CBO's full range of assumptions), and increase full-time-equivalent employment by 1.6 million (with a range from 0.5 million to 2.8 million) in the fourth quarter of 2013.

http://www.cbo.gov/sites/default/files/cbofiles/attachments/...

Speck
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