View Full Version : Kerry's $900 Billion Tax Increase

15th March 04, 02:21 PM
John Kerry has promised at least $900 billion in spending in his first one hundred days -- and that's just his health care plan. He's also promising middle class tax cuts. And he claims he can cut the deficit in half in five years.
His numbers don't add up.

To pay for these promises, Kerry has already said he would raise taxes. But the Washington Post says that the tax increases he has proposed fall at least $165 billion short of paying for Kerry's spending:

But a review of his campaign proposals shows that the Democratic front-runner is promising to spend at least $165 billion more on new programs during his first term in office than he could save with his tax plan, a mix of breaks for the middle class and increases for corporations and the most affluent. The $165 billion figure does not include the cost of several proposals Kerry has not fully detailed or backed with estimates.
And that's a low estimate. The only tax increase Kerry has specifically laid out -- on people earning over $200,000 -- would only raise $250 billion over ten years, leaving Kerry $650 billion short of paying for his entire health proposal. Who else will Kerry tax to get the rest of the money?

Under pressure, Kerry now concedes that he would have "revise" his plans. A key Kerry adviser told FactCheck.org that we might not know the full details until Kerry gets into office:

"John's not the president yet. When he becomes the president he'll send up a whole budget." Meanwhile, [Michael] Meehan said, "We're not going to get into the back and forth on that." He also said that the Thorpe analysis [pegging Kerry's health plan cost at $895 billion]"doesn't take into account any savings," but Meehan would not be specific about what kind of savings he meant.
In short, these are just the kinds of election-year shenanigans you'd expect from someone who's voted for higher taxes 350 times in his Senate career. What is clear is that the only way Kerry can get his $900 billion in spending is through a massive tax increase that will derail our economic recovery.