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CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years |

by on February 1, 2012

“In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” said CBO, “mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.

“The U.S. economy, CBO projects, will perform “below its potential” for another six years and unemployment will remain above 7 percent for another three.”

From → Debt, Taxes

One Comment
  1. I saw this coming over a year ago.Any SANE osrepn knows you can’t spend money like a drunken sailor without taking anything in.About 4 months ago, I had an opinion piece published in the Orlando Sentinel titled The Grand Funk, not quite the great depression, but the worst recession since .Last night’s appearance of Suze Ormond freaking out on Larry King Live along with the various federal officials bloviating on the news/ talk shows validate the premise.Our economy is in great peril. I fear we will see belly flop after belly flop as the fed searches for that great cosmic reset button . I hope, my friends, that this is the Bush administration’s grand finale, one which drives the stake into the heart of the RNC beast, but who knows what treats are in store for us as the elections loom closer. Suspended elections due to national security threats?FEMA Camps available to the neveaux homeless / jobless? Perhaps I read to much over at Rense?One would think the Republicans will suffer the biggest up set in history, but with a war hero (?) and his dominatrix running mate, who can figure out how this Twilight Zone episode will end?More people standing on a corner asking for CHANGE We hear much about the poor shareholders’ but little of the thousands of new jobless created by the collapse of the Wall Street titans. Little Georgie will smash his toys in spite as he leaves Toon Town for Crawford (Or Paraguay?).

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