Little-Acorn
01-26-2016, 04:01 PM
Democrats keep pretending that if they increase taxes on the economy, it won't slow down the economy. Phrases like "We'll only increases taxes on the rich" are still believed by Democrat voters who aren't paying attention to what actually happens.
Unfortunately, the economy does pay attention. And a few economic experts are actually starting to point it out.
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http://www.wsj.com/articles/hillarys-191-billion-tax-increase-1453811094
Hillary’s $191 Billion Tax Increase
A new study projects slower growth under Clinton.
by James Freeman
Updated Jan. 26, 2016 8:10 a.m. ET
Hillary Clinton’s proposed tax hikes would increase federal revenue by $498 billion over a decade if one ignores the impact of her plan on economic growth—and $191 billion if the resulting decrease in economic output is taken into account. That’s according to a new study by the Tax Foundation that will be released later this morning.
Foundation economists project that the Clinton tax increases will result in U.S. GDP that is 1% below where it would otherwise be after 10 years. And although the Clinton tax hikes are ostensibly targeting the rich, with proposed changes such as a new surtax on high incomes and a Buffett Rule that sets a minimum tax rate on high earners, the Tax Foundation projects a decline of at least 0.9% in after-tax incomes for all taxpayers due to slower growth. So for everyone dissatisfied with the Obama economy, the Clinton agenda promises to make it just a bit worse.
Unfortunately, the economy does pay attention. And a few economic experts are actually starting to point it out.
-----------------------------------------
http://www.wsj.com/articles/hillarys-191-billion-tax-increase-1453811094
Hillary’s $191 Billion Tax Increase
A new study projects slower growth under Clinton.
by James Freeman
Updated Jan. 26, 2016 8:10 a.m. ET
Hillary Clinton’s proposed tax hikes would increase federal revenue by $498 billion over a decade if one ignores the impact of her plan on economic growth—and $191 billion if the resulting decrease in economic output is taken into account. That’s according to a new study by the Tax Foundation that will be released later this morning.
Foundation economists project that the Clinton tax increases will result in U.S. GDP that is 1% below where it would otherwise be after 10 years. And although the Clinton tax hikes are ostensibly targeting the rich, with proposed changes such as a new surtax on high incomes and a Buffett Rule that sets a minimum tax rate on high earners, the Tax Foundation projects a decline of at least 0.9% in after-tax incomes for all taxpayers due to slower growth. So for everyone dissatisfied with the Obama economy, the Clinton agenda promises to make it just a bit worse.