Bloomberg.com:
Sperling, Bush’s Budget Means Cutting Only Peanut Butter. “Yet while these cuts add up to only about $6.5 billion a year, no one is supposed to mention that in the same budget Bush calls for implementing two obscure tax provisions that increase personal exemptions and itemized deductions that the top 2 percent of Americans can use to reduce their tax payments to the tune of $115 billion over the next decade. That’s enough to prevent all these cuts and still reduce the deficit by $55 billion.” My italics.
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