Quote:
Originally posted by taxwonk
It appears that the CBO study does not say what the authors claim it says. The last excerpt I highlighted in bold gives lie to the first excerpt.
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How's that? There are two reasons why someone pays less taxes: 1) a lower tax rate (effective); 2) lower income. CBO said, based on the first excerpt, that the reason for lower taxes was lower income.
All the second thing seems to say is that CBO did not consider the incentive effects on work that a tax rate reduction would have or had
[ETA:] And whatever CBO says, they're not particularly trustworthy. It's an arm of Congress, and they simply turn out reports to please whoever requested it.
