$1 trillion annual interest cost at 5% average rates, $11k per household. (with optimistic 80 mil. households)
BEA's deficit figures- routinely near $1 trillion (table 3.1).
Deficits over next 30 years- $109 trillion. -Senator Ron Johnson. $800k per household. For Medicare, Social Security, pensions/benefits, interest, etc.
For every $1 paid in Medicare and Social Security taxes, $2.40-$7.80 is returned. -Politifact
OECD's U.S. spending estimate was 38% or $7.8 trillion.
Total current gov and private debt is 280% of 1 year's GDP or $47 trillion. (China- 282%) -McKinsey
In the Depression, 25% of all mortgages were guaranteed by the taxpayers. Today, 80%. -Pinto, AEI
Federal Reserve increased their "purchases" of Treasury debt from $1 trillion in 2008 to $4 trillion today.
For every $1 paid in Medicare and Social Security taxes, $2.40-$7.80 is returned. -Politifact
OECD's U.S. spending estimate was 38% or $7.8 trillion.
Total current gov and private debt is 280% of 1 year's GDP or $47 trillion. (China- 282%) -McKinsey
In the Depression, 25% of all mortgages were guaranteed by the taxpayers. Today, 80%. -Pinto, AEI
Federal Reserve increased their "purchases" of Treasury debt from $1 trillion in 2008 to $4 trillion today.
Dollar has lost 85% of it's value since 1971. -Lewis Lehrman
Private debt annual interest will increase $300-500 billion if rates rise by 3%. -Richard Vague
August 2011 debt deal- $2 trillion of more borrowing authority in exchange for $100 billion of savings in the same time period- a 20 for 1, not a "1 for 1".
2001 and 2003 tax cuts: a) portions on over $200k, the 2003 drug bill and the Iraq war were about $150 billion out of $1.3 trillion deficits (CBO). Ds wanted more drug bill $.
Private debt annual interest will increase $300-500 billion if rates rise by 3%. -Richard Vague
August 2011 debt deal- $2 trillion of more borrowing authority in exchange for $100 billion of savings in the same time period- a 20 for 1, not a "1 for 1".
2001 and 2003 tax cuts: a) portions on over $200k, the 2003 drug bill and the Iraq war were about $150 billion out of $1.3 trillion deficits (CBO). Ds wanted more drug bill $.
b) total dollars were 3-4 times
higher for the under $200k incomes, as is income. -JCT, CBO
c) projected to cost $650 billion over 10 years, then revised to $130 billion. -JCT, CBO
Little increase in inequality on after tax income, including benefits, over past 20 years. -Reynolds, Cato
Top 1% grew most during Clinton period. -CBO
Top .3% pay less than the top 2% and some of those below due to exotic tax vehicles. -Perfectly Legal, David Cay Johnston
"People who say just tax the rich aren't paying attention." -E. Bowles, Obama's fiscal commission appointee
Oil industry pays 45% of income for all taxes and fees (in addition to the per gallon tax on the driver). -API
"There is no special tax break for outsourcing." -Politifact
Many of the rich benefit from government related costs reducing competition, low interest rates by the Fed and government cronyism.
Ds capping of deductions essentially raised the 35% top statutory income rate beyond 39.6% to 44.6%. Additional proposed increases would result in 50%. -Paul Ryan
Little increase in inequality on after tax income, including benefits, over past 20 years. -Reynolds, Cato
Top 1% grew most during Clinton period. -CBO
Top .3% pay less than the top 2% and some of those below due to exotic tax vehicles. -Perfectly Legal, David Cay Johnston
"People who say just tax the rich aren't paying attention." -E. Bowles, Obama's fiscal commission appointee
Oil industry pays 45% of income for all taxes and fees (in addition to the per gallon tax on the driver). -API
"There is no special tax break for outsourcing." -Politifact
Many of the rich benefit from government related costs reducing competition, low interest rates by the Fed and government cronyism.
Ds capping of deductions essentially raised the 35% top statutory income rate beyond 39.6% to 44.6%. Additional proposed increases would result in 50%. -Paul Ryan
R primary candidates didn't oppose 10 for 1 savings to revenues deal. They opposed statutory rate increases.
China spends 6% of GDP on medical (Rand, WHO), U.S.-18% (CMS). Their out of pocket- 56% (Rand), ours- 12%.
China spends 6% of GDP on medical (Rand, WHO), U.S.-18% (CMS). Their out of pocket- 56% (Rand), ours- 12%.
Top effective total tax rate on small
businesses was 35% in U.S. before tax reform, 16% in China. -NAM
74% don't want more than 20% average effective
total taxation. -Rasmussen poll
Less than 20% of all spending is needs-tested (Cato), about $1 trillion.
Less than 20% of all spending is needs-tested (Cato), about $1 trillion.
K-12 current per
student annual spending of $14k has not fallen, but risen by 20% over last 10 years, inflation adjusted and 280% since 1970, mostly for out of class. -Digest Ed. Stats
College taxpayer costs have risen 20-30% since 2009 -FinAid
Military spending is about $700 billion total, about 12% of all spending, not the 40-50% expressed in polls.
College taxpayer costs have risen 20-30% since 2009 -FinAid
Military spending is about $700 billion total, about 12% of all spending, not the 40-50% expressed in polls.
Defense dept spending of about $600 billion total is around 3.3% of GDP, below the 3.7% avg since 1970 (OMB 3.1).
Defense cuts “potentially disastrous”, could threaten “our freedom and way of life”. -Former Pacific Commander, Lyons
Ds regularly propose less than 1% savings in non-defense.
Stimulus spending cost $270k per job. -Administration's economic adviser's 7th quarterly report
Defense cuts “potentially disastrous”, could threaten “our freedom and way of life”. -Former Pacific Commander, Lyons
Ds regularly propose less than 1% savings in non-defense.
Stimulus spending cost $270k per job. -Administration's economic adviser's 7th quarterly report
The medical
bill would have likely added 1-2% to total
costs of 53-55%.
Drug industry supported it.
Drug industry supported it.
Obama pledged “negotiations on
C-SPAN”, which never happened, “to see who is making arguments on
behalf of the drug companies”.
$3,380 average increase per child "able to
stay on their parent's plan". -2009 HHS estimate
14 million who liked it couldn't keep it can't -
will be moved to government exchange insurance. -Medicare Actuary
31 million will remained uninsured. -CBO
24 of the 31 million subprime/weak mortgages out of 55 million total in 2008 were created by government. -Wallison, AEI
50% of Rs and 74% of Ds voted for bailout- TARP loans to banks.
The bank regulation bill, Dodd-Frank, will cost 1.5 million jobs over 5 years (CBO), has 8k pages of final regulations and 6k more proposed. (Financial Services committee)
50% of Rs and 74% of Ds voted for bailout- TARP loans to banks.
The bank regulation bill, Dodd-Frank, will cost 1.5 million jobs over 5 years (CBO), has 8k pages of final regulations and 6k more proposed. (Financial Services committee)
It increased consolidation
of "too big to fail" banks. -Democrat Neil Barofsky, head of TARP
Half of corporate contributions in
2010(?), 54% of Wall St. contributions and 54% of drug industry
contributions went to Ds. -CRP
For every $97 of business affiliated
PAC money going to Rs in 2010, $110 went to Ds. -Open Secrets
Women earn 95 cents for every dollar men earn within same occupation and experience, not 70 or 77 cents. -Diane Furchgott Roth, Manhattan Institute
Almost all states and cities in serious financial trouble, past and present, under D control.
Women earn 95 cents for every dollar men earn within same occupation and experience, not 70 or 77 cents. -Diane Furchgott Roth, Manhattan Institute
Almost all states and cities in serious financial trouble, past and present, under D control.
Each additional 1 million barrels of
oil production = about 1 million jobs. -Hoffmeister, Shell ex-CEO
Typed in NTU Rates yet?
