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
So, What Else Could We Get for $60B?
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.
(Read more Bush tax cuts stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.