The great tax shift: the president says his cuts are simply a way of "giving people their money back." But the bill will come due one way or another—and lower- and middle-class households will foot it. (War On The Middle Class) William G. Gale, Peter R. Orszag.
The American Prospect May 2004 v15 i5 p52(2)
Instructions: Locate this article by visiting http://www.infotrac-college.com and entering "great tax shift" as Keyword search terms, and then answer the following questions.
1. How much will the Bush tax cuts cost the federal government, with increased payments on the national debt included?
2. How do these numbers increase if the Bush tax cuts are extended beyond their expiration dates?
3. Describe at least two ways in which the lower and middle classes will be differentially harmed by the Bush tax cuts.
4. In what sense do the current Bush tax cuts have to be paid back in the future, with interest?
5. In what sense do the Bush tax cuts put a financial burden on future generations?
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