Can Income Tax Rate Hikes Close the Deficit?

AUTHOR: William Ahern, Director of Policy and Communications, The Tax Foundation
Apr 15, 2010

When David Walker was head of the General Accounting Office, he changed the agency’s middle name from Accounting to Accountability, but the concept doesn’t seem to have caught on in Washington. The federal deficit is projected by President Obama’s Budget to stay at previously intolerable levels for an entire decade: starting out above $1 trillion, dropping to the $700-to-$800 billion level, then rising back to $1 trillion.

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