Low & middle income groups bear burden of the tax cuts

William G. Gale, Peter R. Orszag, and Isaac Shapiro have provided an analysis of who gains from the recent tax cuts and who loses in an analysis that respects the long-run government budget constraint. Households with incomes over $1 million have current tax cuts that exceed their deferred tax liabilities under both scenarios put forth by the authors. Most households, however, will tend to pay more taxes over the long-run.