So, What Else Could We Get for $60B?

Tax cuts for high earners will cost us
By Evann Gastaldo,  Newser Staff
Posted Dec 5, 2010 3:32 PM CST
Senators attend a news conference on Capitol Hill in Washington, Friday, Dec. 3, 2010, to discuss proposals to continue the Bush era tax cuts.   (AP Photo/Alex Brandon)

(Newser) – Congress appears to be on the verge of extending the Bush tax cuts on income above $250,000 a year, which will cost the US $60 billion a year, writes David Leonhardt in the New York Times. What else could that amount of money buy?

  • It could reduce the deficit as much as four other measures combined: the elimination of earmarks, the proposed federal pay freeze, a 10% federal work force cut, and a 50% foreign aid cut.
  • It could triple federal medical research funding.

  • It could provide free college for about half of the full-time students at four- and two-year-schools—including room and board.
  • It could allow for a 15% corporate tax cut.
  • It could provide a $500 tax cut for all households.
For his complete list, click here, or click for more on the Bush tax cuts.

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