Welll....D'UH!
http://apnews.excite.com/article/2011121...9DQG0.html
They needed a "study" to figure this out?
http://apnews.excite.com/article/2011121...9DQG0.html
Quote:WASHINGTON (AP) - The tax plan by GOP presidential hopeful Newt Gingrich would provide big tax breaks to the rich and blow a huge hole in the federal budget deficit, according to an independent study released Monday.
The analysis by the Tax Policy Center says households making more than $1 million a year would see their taxes drop by an average of 62 percent. Overall, federal tax revenues would drop by an estimated $850 billion in 2015, a figure that would dramatically worsen the budget deficit unless it is offset by unprecedented spending cuts, the study said.
"The revenue losses are enormous," said Roberton Williams, a senior fellow at the Tax Policy Center.
They needed a "study" to figure this out?
