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| Topic: CBO Issues New Analysis Predicting at Least $115 Billion in | |
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Cost of Democrats’ Health Overhaul Keeps Growing and Growing and Growing…
CBO Issues New Analysis Predicting at Least $115 Billion in Additional Spending Tuesday, May 11, 2010 Today, the nonpartisan Congressional Budget Office (CBO) released its latest analysis of the Democrats’ health overhaul, focusing on spending they had not previously quantified. The higher spending reflects increased administrative costs to the federal government for implementing and monitoring the new health law as well as a variety of new government grant programs. All told, CBO predicts federal spending will increase by an additional $115 billion over their original cost estimate of the Democrats’ health law. We can expect the true cost to grow even higher, since CBO noted this new estimate does not include 38 sections of grant programs, which cover 406 pages of legislation. While the Democrat authors of the law did not specify a funding level for these particular programs, they are certain to further increase spending http://republicans.waysandmeans.house.gov/News/DocumentSingle.aspx?DocumentID=185031 Cost of Democrats’ Health Overhaul Keeps Growing and Growing and Growing… |
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Don't worry ... be happy. Nothing to see here, folks ... keep moving ...
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Edited by
Winx
on
Tue 05/11/10 05:32 PM
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WASHINGTON, May 11 (UPI) -- The U.S. tax burden has shrunk to its lowest level in 60 years, the Bureau of Economic Analysis said.
Including state, federal and local taxes -- with sales tax and property tax thrown in -- the average tax bill came out to 9.2 percent of personal income in 2009, USA Today reported Tuesday. That's down from an average of 12 percent over the past 50 years. The tax burden has not been this low since 1950, the newspaper said. "The idea that taxes are high right now is pretty much nuts," said Michael Ettlinger, head of economic policy at the Center for American Progress. The tax rate has fallen 26 percent since 2007, a sharp drop that reflects progressive tax rates passed during the Clinton and Bush administrations and the 2009 federal stimulus bill that cut taxes by $800 for married couples earning up to $150,000. http://www.upi.com/Business_News/2010/05/11/US-tax-burden-at-lowest-point-in-years/UPI-74091273594893/ Tuesday, May 11, 2010 American's Taxes Hit 60 Year Low Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found. Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels. Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010. "The idea that taxes are high right now is pretty much nuts," says Michael Ettlinger, head of economic policy at the liberal Center for American Progress. The real problem is spending,counters Adam Brandon of FreedomWorks, which organizes Tea Party groups. "The money we borrow is going to be paid back through taxation in the future," he says. Individual tax rates vary widely based on how much a taxpayer earns, where the person lives and other factors. On average, though, the tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007. That means a $3,400 annual tax savings for a household paying the average national rate and earning the average national household income of $102,000. I think someone needs to tell FreedomWorks that their teabag followers don't know the difference between current taxation and future taxation. Consider this CBS report that indicated people really don't know how much they pay in taxes, particularly the Tea Party people, where 44 percent believe their taxes have gone up, and it seems FreedomWorks has done nothing to dispel the idea that Obama is taxing America out of house and home. Considering Republican talking points, it would appear that the administration is doing its part to lower the overall tax burden of America. I'm sure conservatives will argue that when the Bush taxcuts expire, Obama will have effectively raised taxes, but they would still be at a historical low point, and with Americans paying less in taxes, they would be able to do more for the economy, right? http://www.themidnightreview.com/2010/05/americans-taxes-hit-60-year-low.html 
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WASHINGTON, May 11 (UPI) -- The U.S. tax burden has shrunk to its lowest level in 60 years, the Bureau of Economic Analysis said. Including state, federal and local taxes -- with sales tax and property tax thrown in -- the average tax bill came out to 9.2 percent of personal income in 2009, USA Today reported Tuesday. That's down from an average of 12 percent over the past 50 years. The tax burden has not been this low since 1950, the newspaper said. "The idea that taxes are high right now is pretty much nuts," said Michael Ettlinger, head of economic policy at the Center for American Progress. The tax rate has fallen 26 percent since 2007, a sharp drop that reflects progressive tax rates passed during the Clinton and Bush administrations and the 2009 federal stimulus bill that cut taxes by $800 for married couples earning up to $150,000. http://www.upi.com/Business_News/2010/05/11/US-tax-burden-at-lowest-point-in-years/UPI-74091273594893/ Tuesday, May 11, 2010 American's Taxes Hit 60 Year Low Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found. Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels. Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010. "The idea that taxes are high right now is pretty much nuts," says Michael Ettlinger, head of economic policy at the liberal Center for American Progress. The real problem is spending,counters Adam Brandon of FreedomWorks, which organizes Tea Party groups. "The money we borrow is going to be paid back through taxation in the future," he says. Individual tax rates vary widely based on how much a taxpayer earns, where the person lives and other factors. On average, though, the tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007. That means a $3,400 annual tax savings for a household paying the average national rate and earning the average national household income of $102,000. I think someone needs to tell FreedomWorks that their teabag followers don't know the difference between current taxation and future taxation. Consider this CBS report that indicated people really don't know how much they pay in taxes, particularly the Tea Party people, where 44 percent believe their taxes have gone up, and it seems FreedomWorks has done nothing to dispel the idea that Obama is taxing America out of house and home. Considering Republican talking points, it would appear that the administration is doing its part to lower the overall tax burden of America. I'm sure conservatives will argue that when the Bush taxcuts expire, Obama will have effectively raised taxes, but they would still be at a historical low point, and with Americans paying less in taxes, they would be able to do more for the economy, right? http://www.themidnightreview.com/2010/05/americans-taxes-hit-60-year-low.html And what does that have to do with the cost of health care? |
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Edited by
InvictusV
on
Wed 05/12/10 06:07 AM
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WASHINGTON, May 11 (UPI) -- The U.S. tax burden has shrunk to its lowest level in 60 years, the Bureau of Economic Analysis said. Including state, federal and local taxes -- with sales tax and property tax thrown in -- the average tax bill came out to 9.2 percent of personal income in 2009, USA Today reported Tuesday. That's down from an average of 12 percent over the past 50 years. The tax burden has not been this low since 1950, the newspaper said. "The idea that taxes are high right now is pretty much nuts," said Michael Ettlinger, head of economic policy at the Center for American Progress. The tax rate has fallen 26 percent since 2007, a sharp drop that reflects progressive tax rates passed during the Clinton and Bush administrations and the 2009 federal stimulus bill that cut taxes by $800 for married couples earning up to $150,000. http://www.upi.com/Business_News/2010/05/11/US-tax-burden-at-lowest-point-in-years/UPI-74091273594893/ Tuesday, May 11, 2010 American's Taxes Hit 60 Year Low Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found. Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels. Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010. "The idea that taxes are high right now is pretty much nuts," says Michael Ettlinger, head of economic policy at the liberal Center for American Progress. The real problem is spending,counters Adam Brandon of FreedomWorks, which organizes Tea Party groups. "The money we borrow is going to be paid back through taxation in the future," he says. Individual tax rates vary widely based on how much a taxpayer earns, where the person lives and other factors. On average, though, the tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007. That means a $3,400 annual tax savings for a household paying the average national rate and earning the average national household income of $102,000. I think someone needs to tell FreedomWorks that their teabag followers don't know the difference between current taxation and future taxation. Consider this CBS report that indicated people really don't know how much they pay in taxes, particularly the Tea Party people, where 44 percent believe their taxes have gone up, and it seems FreedomWorks has done nothing to dispel the idea that Obama is taxing America out of house and home. Considering Republican talking points, it would appear that the administration is doing its part to lower the overall tax burden of America. I'm sure conservatives will argue that when the Bush taxcuts expire, Obama will have effectively raised taxes, but they would still be at a historical low point, and with Americans paying less in taxes, they would be able to do more for the economy, right? http://www.themidnightreview.com/2010/05/americans-taxes-hit-60-year-low.html the whole problem with the Bush tax cuts was he didn't offset them with spending cuts. they were nice in the short term to help us get out of the technology bubble bursting recession, but in the long term we have paid the price in adding to the debt. obama is doing the same thing .. he is offering incentives (cash for clunkers, first time home buyers) and tax cuts that he isn't paying for. He continues to add astronomical amounts to the debt.. There isn't anything good about what is happening.. Since 2008 the Federal Reserve and Treasury dept have pumped atleast $12 trillion into the economy. This is artificial and eventually has to stop. Right now the Fed is pulling liquidity out of the economy and before too long they are going to have to raise interest rates.. Our "recovery" is nothing more than another bubble, funded by borrowing and printing more money.. There is no real growth. We are a debt driven consumer economy.. We have massive unfunded liabilities.. The mandatory spending is already almost 80% of what the government takes in. You are adding this healthcare plan which already is going to cost a trillion dollars over ten years and I seriously doubt that is even close to what the final total is going to be.. We are in serious trouble, and someone saying that taxes are low, we should pat Obama on the back, is either totally clueless or a shill.. sorry about being off topic, but my patience is running out with people that are pushing this reckless economic policy.. |
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The 'true believers' and shills for 'The ONE' will never admit that 'DeathCare' is the latest and largest UNFUNDED Federal mandate to come down the pike in a long time. They may choose to continue wearing those fancy rose-colored glasses even after it impacts them personally. They'll take comfort, tho', in knowing that we're all 'equal' at last ... if y' can consider 'equality of misery' a good thing ... or being bankrupt.
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WASHINGTON, May 11 (UPI) -- The U.S. tax burden has shrunk to its lowest level in 60 years, the Bureau of Economic Analysis said. Including state, federal and local taxes -- with sales tax and property tax thrown in -- the average tax bill came out to 9.2 percent of personal income in 2009, USA Today reported Tuesday. That's down from an average of 12 percent over the past 50 years. The tax burden has not been this low since 1950, the newspaper said. "The idea that taxes are high right now is pretty much nuts," said Michael Ettlinger, head of economic policy at the Center for American Progress. The tax rate has fallen 26 percent since 2007, a sharp drop that reflects progressive tax rates passed during the Clinton and Bush administrations and the 2009 federal stimulus bill that cut taxes by $800 for married couples earning up to $150,000. http://www.upi.com/Business_News/2010/05/11/US-tax-burden-at-lowest-point-in-years/UPI-74091273594893/ Tuesday, May 11, 2010 American's Taxes Hit 60 Year Low Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found. Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels. Federal, state and local taxes — including income, property, sales and other taxes — consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010. "The idea that taxes are high right now is pretty much nuts," says Michael Ettlinger, head of economic policy at the liberal Center for American Progress. The real problem is spending,counters Adam Brandon of FreedomWorks, which organizes Tea Party groups. "The money we borrow is going to be paid back through taxation in the future," he says. Individual tax rates vary widely based on how much a taxpayer earns, where the person lives and other factors. On average, though, the tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007. That means a $3,400 annual tax savings for a household paying the average national rate and earning the average national household income of $102,000. I think someone needs to tell FreedomWorks that their teabag followers don't know the difference between current taxation and future taxation. Consider this CBS report that indicated people really don't know how much they pay in taxes, particularly the Tea Party people, where 44 percent believe their taxes have gone up, and it seems FreedomWorks has done nothing to dispel the idea that Obama is taxing America out of house and home. Considering Republican talking points, it would appear that the administration is doing its part to lower the overall tax burden of America. I'm sure conservatives will argue that when the Bush taxcuts expire, Obama will have effectively raised taxes, but they would still be at a historical low point, and with Americans paying less in taxes, they would be able to do more for the economy, right? http://www.themidnightreview.com/2010/05/americans-taxes-hit-60-year-low.html Anytime someonme tries to prove something using percentages one should always be suspicious of the results...... "The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010." Geez....wasn't unemployment extremely high then....I"m sure that in itself greatly biased the percentages..... |
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