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An oil tax could be one of the least painful ways to trim the deficit

Original story at washingtonpost.com• 2 mentions • 3 months ago

 

Like it or hate it, policymakers in Washington are still obsessed with the deficit. That’s why think tanks keep churning out clever plans to cut spending and raise taxes.And here’s a new paper from the Council on Foreign Relations offering an interesting twist on the theme. Using economic modeling, Michael Levi and Citgroup’s Daniel Ahn suggest that a tax on oil consumption could be one of the least harmful ways to trim the budget deficit.How do they figure? Levi and Ahn first assume that Congress will enact a big deficit-reduction package over the next 10 years that includes about $3 in spending cuts for every $1 in corporate and income tax

 

What they're saying:

06 Feb
Jonathan Fahey @JonathanFahey
RT @levi_m: An oil tax could be one of the least painful ways to trim the deficit http://t.co/0KO1YXpG @BradPlumer post on Ahn/Levi study.
 
06 Feb
David Roberts @drgrist
RT @levi_m: An oil tax could be one of the least painful ways to trim the deficit http://t.co/7nwXZt0l -- nice @BradPlumer post.