Quote:
Originally posted by bilmore
I should have taken accounting. This para seems to say they did that, but then again, they didn't:
"The overall measure is technically cost-free, because it would also raise money by tightening rules against tax shelters and imposing new customs duties. But Mr. Ashdown and other critics contend that the full costs have been glossed over and disguised by delaying the starting date of some provisions and scheduling others to end after several years. Once Congress passes a tax break, lawmakers typically extend it when it comes up for renewal."
Is this NYT spin, or is the funding truly illusory?
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The new rules on tax shelters aren't really PAYGO because they've been in effect administratively for a couple years now. Also, they only pay for a small fraction of the real cost of the bill. It's called revenue neutral because the cuts are supposed to sunset in a couple years. Just like the tax cuts in the Bush tax bill that were supposed to sunset this year, but were extended by Congress earlier this week.
