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View Diary: Dayen, WaPo blog: Did U.S. just implement more severe austerity measures than Great Britain, Spain? (86 comments)

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  •  summary of austerity (5+ / 0-)

    From the Plummer post

    $125B - payroll tax cuts expire
    $78B - sequester
    $50B - spending cuts from 2011 Budget

    $27B - expired tax cuts for rich
    $24B - Obamacare taxes (primarily paid by rich)

    Since the bottom two are taxes on the rich, they aren't problems for austerity (rich tax rates don't affect the economy - low multiplier). The first three are the austerity problems.

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