Chart of the Day: Perspective on tax cuts

Fri, 10/22/2010 - 4:12pm | posted by Jason Pye

Over at the Mercatus Center, Veronique de Rugy puts the debate over the extention of tax cuts set to expire at the end of the year into perspective:

The cost of this extension - $700 billion – should be compared to $41.9 trillion of federal spending which is slated to occur over the same time period. While the cost of extending these tax cuts is substantial, it is far less than many single programs, especially when compared appropriately, over the 10-year window.

Here is the chart:

Couldn’t we just cut some of the spending?

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