Leonarde Burman News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Senator John Kerry's tax plan slows economic activity until 2011,when it generally adopts President George Bush's approach ofpermanent tax cuts. Even so, the Bush plan consistently outperformsthe Kerry plan. President Bush relies on supply-side tax changeswhile Senator Kerry focuses much of his attention on demand-sidepolicy with targeted tax policy changes that yield the unintendedconsequence of producing a tax cut for high-income taxpayers after2011.

Public-private competition can lay the groundwork for changes inrevenue-estimating transparency practices, but Congress can set therules, and a Blue Ribbon Commission sponsored by a governmentagency, nonprofit group, or accounting or law firm might also beuseful. One thing is sure: Change in revenue-estimatingtransparency is needed at both the Treasury Department and theJoint Committee on Taxation.

Democratic presidential candidate John Kerry's promise that, ifelected, he will halve the budget deficit by 2008 ignores the mountain of impending entitlement spending that, if leftunreformed, will dwarf any achievable savings. His ambitiousspending plans would also require a $2,090 per household taxincrease in order to fulfill his deficit-reduction pledge.

(Archived document, may contain errors) December 29, 1995 BALANCED BUDGET TALKING POINTS #9: WHY TAX RELIEF IS NECESSARY IN A BALANCED BUDGET