$2,206 increase for average tax payer in first year if Kerry wins!
Sen. John Kerry's campaign proposals would result in $226 billion in higher spending in the first year of his presidency, including an additional $115 billion in social welfare, foreign aid, and environmental and energy costs, according to a study of his budgetary recommendations.
The study by the National Taxpayers Union Foundation (NTUF), which will be released later this week, finds that Mr. Kerry's budget proposals, which he says would slash the deficit in half over four years, would increase spending well beyond his estimates.
"Despite Kerry's attempts to outflank Bush on the deficit issue and portray himself as the more fiscally responsible candidate, the data behind Kerry's rhetoric tell a different story," said Drew Johnson, the study's author.
"Enactment of Kerry's 'revised' spending agenda in its entirety would still mean higher taxes, a larger national debt or likely both," he said.
Using the Kerry campaign's data and budget estimates from independent sources such as the nonpartisan Congressional Budget Office to assess the cost of each budget recommendation, the NTUF said the Massachusetts liberal's proposals would add $734.6 billion to the government's bills over five years.
Since he announced his presidential candidacy, Mr. Kerry has made 70 policy proposals that would affect spending, five of which would reduce spending.
"Overall, Senator Kerry proposes spending $770.6 billion over five years to fund his projects, while suggesting just $35.99 billion in budget cuts," the study says.
"This leaves $734.62 billion unaccounted for and presumably passed on to American taxpayers in the form of increased taxes or suffocating debt," the study said.
When he introduced his budget proposals at Georgetown University earlier this year, Mr. Kerry said his spending recommendations would be "paid for" through higher taxes on the wealthy, budget cuts and other increased tax revenues.
But the Bush-Cheney campaign has said that repealing the president's tax cuts for those in the top tax bracket would not yield enough money to pay for the senator's new spending and that he would be forced to raise lower tax rates to achieve his budgetary goals.
The NTUF analysis of the Kerry spending plan reaches the same conclusion.
"If John Kerry were indeed to 'pay for' every program he has proposed as a presidential candidate, as he promised in the April 7 speech at Georgetown, the average taxpayer in the U.S. would face an additional $2,206 in taxes in the first year of a Kerry presidency alone," the study says.
Mr. Kerry's spending increase over a four-year term would total $621.76 billion, study figures show.
"That translates to an average increased tax burden of $6,066 for every person paying federal taxes in America over Kerry's first term," it says.
For Immediate Release Jul 12, 2004
For Further Information, Contact:
Peter J. Sepp, Annie Patnaude, Drew Johnson, (703) 683-5700
Study: Kerry's Fiscal Agenda "Makeover" Won't Improve Budget Picture for Taxpayers
(Alexandria, VA) -- For overtaxed and deficit-weary Americans, future prospects for lower federal spending are bleak indeed, according to a detailed analysis of the Democratic Presidential candidate John Kerry's fiscal agenda by the non-partisan National Taxpayers Union Foundation (NTUF). Despite adding spending caps to his agenda, Kerry's campaign promises could still hit taxpayers with a $226 billion blow, on top of the 29 percent spending run-up under George W. Bush's term.
"Despite Kerry's attempts to outflank Bush on the deficit issue and portray himself as the more fiscally responsible candidate, the data behind Kerry's rhetoric tell a different story," said NTUF Policy Analyst and study author Drew Johnson. "Enactment of Kerry's 'revised' spending agenda in its entirety would still mean higher taxes, a larger national debt, or likely both."
The NTUF study systematically examined the fiscal policy implications of Kerry's agenda, using campaign and third-party sources (like the Congressional Budget Office) to assign a cost to each budget proposal he offered. For actual legislation that Kerry has endorsed, the study also relies on NTUF's BillTally project, a computerized accounting system that has, since 1991, tabulated the cost or savings of every piece of legislation introduced in Congress with a net annual impact of $1 million or more. Highlights of the study include:
Based on Kerry's promise to "pay for" every program he has proposed, U.S. taxpayers would each face an average additional $2,206 in higher taxes during Kerry's first year in office, and a cumulative increased tax burden of $6,066 over his first term.
If Sen. Kerry's policy agenda were enacted in full, annual federal spending would rise by at least $226.125 billion during the first year of a Kerry Presidency alone.
Despite nearly $36 billion in spending cuts, $734.62 billion of Kerry's spending agenda remains unaccounted for, and presumably passed on to American taxpayers in the form of increased taxes or suffocating debt.
Kerry has promised nearly $115 billion in social welfare, foreign aid, energy, and environmental handouts during his first term, including $2 million to restore voting rights to felons.
Although Sen. Kerry claims Americans can look to his voting record when determining whether to trust his vow of fiscal responsibility, according to NTUF's BillTally and VoteTally reports, Kerry sponsored or cosponsored $182 billion worth of new federal legislation in 2003, and voted to increase federal spending by $466.5 billion during 2002. VoteTally figures for 2003 are unavailable due to Sen. Kerry's many absences.
Kerry has announced only five cost-saving policy ideas out of a total of 70 policy proposals.
"By exempting a series of major discretionary categories, Kerry's so-called 'strong' spending caps are actually so porous as to be no more effective than the restraints George W. Bush has sought," Johnson concluded. "In the final analysis, the 'winner' of the 2004 election could very well be the federal deficit -- leaving taxpayers with a landslide loss of their economic freedom."
NTUF is the research and educational arm of the National Taxpayers Union, a non-profit citizen group founded in 1969. Note: NTUF Policy Paper 153, One Hand In Your Pocket: How Kerry's Campaign Pledges Stand to Cost Taxpayers Billions, is available online at www.ntu.org.
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RE: $2,206 increase for average tax payer in first year if Kerry wins!
Well lets see now Klintoon grew government at the rate of 8% per year even though he abolished welfare and W grew it 29% in his 4 years. I guess there is no room to cut Government waste.
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RE: $2,206 increase for average tax payer in first year if Kerry wins!
The biggest problem oldelkhunter, is that everybody in all political parties expects the government to do different things and fix problems. Everything costs money and we end up with more spending. Also, congress has a goofy method of passing bills which allows any congressman (or woman) to attach a separate bspending bill (known as a rider) to bills being voted on for funding. As you might expect, this is where most of the pork comes in with many congressmen/women attaching their rider in exchange for their yes vote. Bus or any other president is stuck with either signing the bill which contains the main bill he was asking for and accepting or tolerating all the pork riders attached to it. either that or he can veto the bill and try to start all over without support for his bill. It's not as easy as one might think to keep the spending down with all of the pork hounds in congress.
__________________
Jesus Christ--The reason for the season!
If you can read this, thank a teacher. If you can read this in English, thank a veteran.
If you're certain you know everything, there's little opportunity to learn anything.
$2,206 increase for average tax payer in first year if Kerry wins!
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