Thread: Economics The Fiscal Cliff Approacheth
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Old 11-15-2012, 08:16 AM   #172
patteeu patteeu is offline
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Quote:
Originally Posted by Direckshun View Post
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.
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