THE 2001 TAX CUT IN THIS SIMULATION

As a standin for a whole range of tax rate adjustments, the $103 billion in lost revenue from the 2001 tax cut and the $110 billion in additional lost revenue from the proposed 2003 tax cuts are included in the simulation.

These can be increased or decreased as people feel tax rates should be adjusted. Some people may feel that with a recession, a new round of tax cuts are needed to simulate the economy, so this gives you that option as well as eliminating the tax cut altogether.

In the long budget version, you have the option to selectively eliminate the tax cut for different economic groupings. This allows you to adjust the progressivity of the tax cut.

Note that there is some overlap between the 2001/2003 tax cuts and the numbers used in tax expenditures, so if you cut in both these categories and the tax expenditures categories, the final deficit numbers will not be perfectly accurate.