More spend -and-tax planning from the DLC

"Moderate" Agenda for America Comes with Steep Price Tag

"The Democratic Leadership Council's (DLC) new 'American Dream Initiative' might attempt to chart a third way for Democratic politicians, but its path leads to $31 billion in new annual federal spending and $250 billion in new taxes, according to a line-by-line analysis by the non-partisan National Taxpayers Union Foundation (NTUF). Among the findings:

Taxpayers should immediately take notice of a $250 billion tax increase over ten years. The American Dream Initiative seeks to obtain new capital gains revenue from securities firms, along with the sale of assets. This quarter-trillion dollar boost would rank among the major tax hikes in American history.

Of the 22 items with a possibly quantifiable budget impact that NTUF identified in the initiative, 13 would increase federal spending while only 1 would reduce outlays (the remaining items mentioned policy initiatives with an unknowable cost).

The single largest spending hike presented was a $15 billion-a-year
'American Dream Grant' to provide federal block grants to states for
students pursuing graduate study (the estimate includes only the impact on spending, not on revenues). The DLC's second priciest agenda item creates a
'National Center for Cures' to encourage better communication between
private sector research firms and the National Institutes of Health. This would cost $5 billion annually.

The lone item to reduce federal outlays would be achieved by cutting 100,000 federal consultants and contractors. The DLC claims this would save $50 billion over 10 years.

'Moderate' Agenda for America Comes with Steep Price Tag

The Democratic Leadership Council's (DLC) new 'American Dream Initiative' might attempt to chart a third way for Democratic politicians, but its path leads to $31 billion in new annual federal spending and $250 billion in new taxes, according to a line-by-line analysis by the non-partisan National Taxpayers Union Foundation (NTUF). Among the findings:

Taxpayers should immediately take notice of a $250 billion tax increase over ten years. The American Dream Initiative seeks to obtain new capital gains revenue from securities firms, along with the sale of assets. This quarter-trillion dollar boost would rank among the major tax hikes in American history.

Of the 22 items with a possibly quantifiable budget impact that NTUF identified in the initiative, 13 would increase federal spending while only 1 would reduce outlays (the remaining items mentioned policy initiatives with an unknowable cost).

The single largest spending hike presented was a $15 billion-a-year
'American Dream Grant' to provide federal block grants to states for
students pursuing graduate study (the estimate includes only the impact on spending, not on revenues). The DLC's second priciest agenda item creates a
'National Center for Cures' to encourage better communication between
private sector research firms and the National Institutes of Health. This would cost $5 billion annually.

The lone item to reduce federal outlays would be achieved by 'cutting 100,000 federal consultants and contractors.' The DLC claims this would save $50 billion over 10 years.

......... " Received on Mon Aug 07 2006 - 09:46:28 PDT