red states rule
11-12-2007, 08:30 AM
Talk is cheap, but the cost to keep promises made by Dems could top $700 billion and push individual tax rates above 50 percent
I remember what the economy was like under Pres Peanut Carter, and Dems seem to want to return to bad ol' days
Democratic Promises Carry High Price Tag
Sunday, November 11, 2007 8:39 PM
By: Rod Proctor
Talk may be cheap, but the cost to keep promises made by Democratic candidates could top $700 billion and push individual tax rates above 50 percent for the first time since the 1986 Reagan tax reform, fiscal experts warn.
In fact, a Democratic sweep in 2008 could push America’s tax burden up to 7th highest in the developed world, up from 21st place, according to researchers at the nonpartisan Tax Foundation.
“If Democrats control everything after 2008, there will be a substantial tax increase,” Larry Sabato, director of the Center for Politics at the University of Virginia tells Newsmax. “Most or all of the Bush tax cuts will be allowed to expire and tax rates may be increased besides.”
The largest hike in federal spending would come from Democrats’ plans to extend health coverage to 47 million uninsured U.S. residents.
Hillary Clinton’s plan, according to her campaign, would add about $110 billion a year to the federal budget.
Barak Obama’s plan, say Harvard University experts, would cost between $50 billion and $65 billion a year. John Edwards’s health care plan, according to an Emory University study, could run up to $145 billion a year.
Democrats across the board are also pitching college tuition subsidies with an annual price tag of up to $30 billion. And their promises don’t stop there. Most candidates have pledged new programs in federally funded areas such as primary education, roads and bridges, and energy.
All told, the Democratic platform could cost more than $700 billion over four years.
“I have a million ideas,” Clinton tells the Boston Globe, “and the country can’t afford them all.”
for the complete article
http://www.newsmax.com/headlines/democrats_tax_increase/2007/11/11/48607.html
I remember what the economy was like under Pres Peanut Carter, and Dems seem to want to return to bad ol' days
Democratic Promises Carry High Price Tag
Sunday, November 11, 2007 8:39 PM
By: Rod Proctor
Talk may be cheap, but the cost to keep promises made by Democratic candidates could top $700 billion and push individual tax rates above 50 percent for the first time since the 1986 Reagan tax reform, fiscal experts warn.
In fact, a Democratic sweep in 2008 could push America’s tax burden up to 7th highest in the developed world, up from 21st place, according to researchers at the nonpartisan Tax Foundation.
“If Democrats control everything after 2008, there will be a substantial tax increase,” Larry Sabato, director of the Center for Politics at the University of Virginia tells Newsmax. “Most or all of the Bush tax cuts will be allowed to expire and tax rates may be increased besides.”
The largest hike in federal spending would come from Democrats’ plans to extend health coverage to 47 million uninsured U.S. residents.
Hillary Clinton’s plan, according to her campaign, would add about $110 billion a year to the federal budget.
Barak Obama’s plan, say Harvard University experts, would cost between $50 billion and $65 billion a year. John Edwards’s health care plan, according to an Emory University study, could run up to $145 billion a year.
Democrats across the board are also pitching college tuition subsidies with an annual price tag of up to $30 billion. And their promises don’t stop there. Most candidates have pledged new programs in federally funded areas such as primary education, roads and bridges, and energy.
All told, the Democratic platform could cost more than $700 billion over four years.
“I have a million ideas,” Clinton tells the Boston Globe, “and the country can’t afford them all.”
for the complete article
http://www.newsmax.com/headlines/democrats_tax_increase/2007/11/11/48607.html