Tag Archives: tax cuts

How much did the bush tax cuts cost?

2.5 trillion dollars.

roughly 4 times the stimulus cost (after accounting for the additional tax revenue generated), which created more than 3 million jobs.

What could we have done with 2.5 trillion dollars?
Think progress offers this:

The tradeoffs paint a stark picture. For the same price as the Bush tax cuts, which did little to help the economy, we could’ve sent tens of millions of students to college, retrofitted every household in America with the capacity to generate alternative energy, hired millions of firefighters and police officers, effectively ended our national shame of having kids who lack health care coverage, or put millions of more teachers into classrooms. But instead, Congress passed budget-breaking tax cuts, and then went on to pass even more in 2003. In 2010, Congress then went on to renew the Bush tax cuts for an additional two years, and the political will for the sort of public investments listed above appears to have dried up.

more here