According to a new study by the Tax Foundation, Clinton’s tax proposals will shrink the economy, slow economic growth, drive down wages, and kill the equivalent of hundreds of thousands of full-time jobs.
In essence, her policies would be a rehash of what we have seen under Obama’s failed economic agenda, which promises to keep the American Dream out of reach for more Americans and bury the country in even more debt.
The Wall Street Journal had this biting commentary to sum it up: “For everyone dissatisfied with the Obama economy, the Clinton agenda promises to make it a little bit worse.”
- Economic growth would shrink by 1 percent.
- Reduced economic growth would result in 311,000 fewer full-time equivalent jobs.
- American wages would reduce by 0.8 percent.
For all of that pain, her tax hikes don’t even come close to covering the cost of her $1.2 trillion spending spree.
According to the Tax Foundation, her plan only raises $498 billion in revenue when you don’t account for the economic impact of the proposed taxes (what is called a “static” analysis). Under this scenario, her tax increases don’t even amount to 50 percent of her proposed spending plans.
When you further account for the impact of taxes on economic growth (a “dynamic” analysis), the amount of revenue raised is only $193 billion.
It is dishonest to suggest that her plan does anything other than run massive deficits. The more she spends, the more the American people lose.
You don’t have to be a rocket scientist to read the numbers on her tax plan. A Hillary Clinton presidency would only be a third term of Barack Obama’s failed economic policies, which have kept the middle class stagnant and buried future generations in debt.
Budget and Spending Taxes