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      Chapter

      What's in Store for the Income Tax?
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      Chapter

      What's in Store for the Income Tax?

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      What's in Store for the Income Tax? book

      What's in Store for the Income Tax?

      DOI link for What's in Store for the Income Tax?

      What's in Store for the Income Tax? book

      ByJoseph J. Minarik
      BookMaking America's Budget Policy from the 1980's to the 1990's

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      Edition 1st Edition
      First Published 1990
      Imprint Routledge
      Pages 18
      eBook ISBN 9781315289212
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      ABSTRACT

      The size of the ERTA cuts convinced many tax analysts that there would be no further income tax legislation for some time. The reasoning was that no further tax cut would even be considered, and that no other tax change would be politically feasible without an accompanying tax cut to sweeten the deal. This sense of immutability evaporated as the long-term implications of ERTA became clear. The fear of ever increasing budget deficits, even with the administration's proposed 1983 budget cuts, has galvanized the will of the Congress to do something that it has always hesitated to do: raise taxes.

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