The Kerry Line
“John Kerry’s tax gap of $1 trillion would result in higher taxes on every American, and is the wrong prescription for our economy. Kerry’s new government spending will put a burden on every American family.”
- Steve Schmidt, Bush-Cheney ’04 Spokesman
John Kerry has proposed at least $1.7 trillion in new government spending over the next 10 years. When calculated with estimates from the Congressional Budget Office, independent think tanks, the media or the Kerry campaign, 28 of his 73 proposals cost at least $1.7 trillion in new government spending over the next 10 years.
trillion is more than the annual economic output for all of
$1.7 trillion in new government spending will cost each American household an average of $15,500.
Kerry’s numbers do not add up. His proposed “tax increases on the rich” would only yield approximately $700 billion over ten years, but that does not come close to paying for his $1.7 trillion in spending.
There is at least a $1 trillion tax gap between his spending increases and his tax increases. Given his pledge to cut the deficit in half over four years, his $1 trillion tax gap will only go up and will result in new taxes for every American.
Kerry needs to detail his budget plans. We still have more than 7 months to go in the campaign. We don’t have cost estimates for the remaining 45 proposals. On the campaign trail Senator Kerry has been proposing an average of $25 billion in new spending per week.
Senator Kerry has voted for higher taxes over 350 times, and to pay for his $1 trillion tax gap, he will raise taxes on every American.
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