When is a trillion dollars not a lot of money?

by Russ Roberts on February 26, 2009

in Taxes

So starting in 2011, Obama is proposing a trillion dollars in new taxes.

Sounds like a lot of money. But it's over ten years. So it's a measly $100 billion a year.

That's a drop in the bucket of red ink that he's promising. So for 2009 and 2010, no new taxes while deficits are in the trillions. There's no way that these taxes will get the job done.


Add a Comment    Share Share    Print    Email

Previous post:

Next post: