The Taxonomist.(George W. Bush's tax policy)(Brief Article)(Statistical Data Included)

SIC TRANSIT UBERTAS In early June, the Congressional Budget Office quietly lowered its estimate of this year's budget surplus. Rather than the $96-billion excess predicted in January (excluding Social Security and Medicare), the CBO now projects a surplus of $14 billion for fiscal year 2001. In fact, the CBO's figures indicate that in the last four months of this fiscal year some $20 billion will be siphoned from the Medicare trust fund to cover the first-year cost of President Bush's tax-cut plan. LATE ADMISSION Meanwhile, Congress's Joint Committee on Taxation, ...