The following is an excerpt of an article taken from Newsmax.com:
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. ............................"
Comment:
The Middle Class will pay for Hillary Clinton's grandiose schemes. Whilst Hillary’s Health Care Plan is conservatively costed at $110 billion per year there is a growing body of evidence which indicates that the cost is more likely to approach $200 billion per year. The tax payer will fund this.
Hillary’s Baby Bond Proposal would give $5,000 to each of the 4 Million Babies born in The U.S. each year, totaling $20 Billion Per Year. This will be funded by increased taxation.
The list of promises goes on and on.....................If Sen. Hillary Clinton could enact all of her campaign proposals, taxpayers would in my view be faced with Financing $860 Billion in new spending over one White House term .
The message for the middle class is patently obvious: Be very very afraid of a Clinton Presidency and a Democratic Congress. A vote for Clinton is a vote for taxation levels which will quickly approach those of countries such as Sweden.
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