Originally Posted by Direckshun
Over half of what a full retreat to the Clinton rates would.
I'm just a guy in a chair speculating, but I'm guessing that could be around 450-500 billion.
So. No fiscal ramifications?
According to this taxpolicycenter.org breakdown
from a couple of years ago, reinstating Clinton era rates on upper income taxpayers would be worth approx. $365 billion over 10 years. If we assume that raising the rate halfway toward Clinton era rates would yield about half that amount, we're talking about something like $200 billion over 10 years. That's a measly $20 billion per year in an era of $1 trillion deficits.
"Well, it is one thing for Bill Clinton to say, I feel your pain. It is another thing for Barack Obama to say I feel your pain that I have caused." - George Will