August 29, 2014

Higher Deficits Seen in Romney’s Tax Plan, and His Rivals’, Too

January 18, 2012
The New York Times

Excerpt

By reducing the amount the federal government collects in taxes each year — at a time when federal tax collections are already a smaller share of the economy than they have been in more than half a century — the Republican tax plans will make it harder to balance the budget, said Robert L. Bixby, the executive director of the Concord Coalition, a nonprofit group that advocates fiscal responsibility.

“If the first thing you do is lower revenues by that much by extending all of those tax cuts, then you have a much bigger hole to dig out of to get back to a balanced budget,” he said in an interview. “The hole they’re digging, to mix metaphors, is a self-inflicted wound.”