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Back in March, the Congressional Budget Office (CBO) estimated that the new health legislation would reduce the federal budget deficit by about $140 billion over the next ten years and by about 0.5% of gross domestic product in the decade after that. Ever since, analysts have been debating whether we should believe those estimates. Some say the legislation will deliver much larger budget savings than those modest estimates suggest, while others insist it will greatly increase future deficits.
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While most everyone else in Washngton was viewing the cherry blossoms or otherwise enjoying a beautiful weekend, I was trapped indoors trying to get a handle on my taxes. Unlike most folks, as described in this great column in the Washington Post on Tax Myths by my Tax Policy Center colleagues Rosanne Altshuler and Bob Williams, I usually do my taxes myself and often without the aid of software. I'm a tax geek, so doing my return on my own gives me an up close and personal look at what I study. Plus I get a charge out of conquering the tax code. I did admit to being a tax geek.
One day soon, I would like to walk into my neighborhood supermarket, load up my cart with goodies and walk out the door. When I’m confronted by security about the matter of paying for the stuff, I’ll just tell them to make everyone else in the store pick up the tab. If I lived in Virginia, I’d tell ‘em to go see Attorney General Ken Cuccinelli, who says I don’t have to pay.