Department of corrections: Obama’s tax plan hasn’t changed since April

at 09:07 AM ET, 09/20/2011

Marc Goldwein, policy director at the Committee for a Responsible Federal Budget, e-mails to say I overstated the differences between the taxes in President Obama’s April budget proposal and the plan he released yesterday. “The revenue in this plan is actually on par with the April plan,” writes Goldwein. “The April proposal raised $1 trillion beyond letting the upper income tax cuts expire over 12 years. Over ten, it was more like $750 billion. So if upper income were $800 [billion], that would put the total at about $1.55 trillion in April. According to Obama, they are now raising between $1.53 and $1.57 trillion in revenue.”

He’s right. I forgot that the April budget proposal was using a 12-year time frame while yesterday’s speech was on a more traditional 10-year budget window. Goldwein is also right about the bottom line: “this is basically the same as the April proposal except with a jobs plan and with more detail.”

 
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