Kevin Hassett, former economic advisor to John McCain, takes a look at the spending proposals of John Kerry and finds they would add $2.1 trillion to the budget deficit over the next decade.
Kerry is claming that he can tax the richest 2% to pay for all these programs. If you believe that a tax increase on the richest 2% will add $2-2.1 trillion in additional revenue over the next ten years, I’ve got a bridge in Brooklyn to sell you. Kerry’s promised that he will cut taxes on the middle class – which would only add to the deficit, especially if it was tied to an economic anchor like a return of high taxes on dividents and other investments.
Those who chastise Bush on spending are right – but compared to Kerry, Bush is a penny-pincher. Considering that the economic effects of Kerry’s anti-growth tax plans, his opposition to free trade, and his budget-busting spending plans, a Kerry administration would be an economic disaster for this country.