Last week, Obama proposed tax increases of almost $2 trillion over the coming decade — chiefly by ending Bush-era cuts on individual income exceeding $200,000 a year and family income exceeding $250,000.
The budget group's advisers include many Democratic deficit hawks and Republicans unafraid to advocate for higher taxes. The group acknowledged plenty of wiggle room in the study since many of the candidates' proposals are vague or haven't been reviewed by official sources, like the CBO.
The Tax Policy Center, a respected joint project of the Urban Institute and the Brookings Institution, provided the basis for many of the estimates of the candidates' tax proposals.
The group offers three scenarios for each candidate, which incorporated different assumptions that depend on how vague or specific a candidate's proposals are. The group chiefly trumpeted an "intermediate" scenario that represented the group's best estimate of the candidate's budget plans.
By contrast, the Gingrich campaign on Thursday produced an estimate by a friendly economist that predicts his budget would balance by the end of his first term and that economic growth under his supply-side tax cuts would average 4.4 percent a year over the coming decade, far higher than predicted by the budget group.
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