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Wednesday, October 17, 2012

Revealing Graph: Federal Tax Receipts and Federal Tax Expenditures.

federal tax collections
At the end of the Clinton administration, there was more incoming revenue than outgoing expense.
Starting with the Bush tax cuts, this pattern reversed.
The 2007-2008 economic collapse precipitated further widening of the gap. In addition to lower tax rates, there was less income to tax.


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