BUSINESS
10/23/2010 05:12 am ET Updated May 25, 2011

Paul Krugman: Bush Tax Cut Debate Is Proof Of Our 'Dysfunctional And Corrupt Political Culture'

What's at stake here? According to the nonpartisan Tax Policy Center, making all of the Bush tax cuts permanent, as opposed to following the Obama proposal, would cost the federal government $680 billion in revenue over the next 10 years. For the sake of comparison, it took months of hard negotiations to get Congressional approval for a mere $26 billion in desperately needed aid to state and local governments.

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