According to an analysis released by the Tax Foundation, Hillary Clinton’s tax plan “would lower wages and cost the country more than 300,000 jobs.” The Hill,
The group estimated that the Democratic presidential front-runner’s plan would reduce the nation’s gross domestic product (GDP) by 1 percent over the long run by imposing higher marginal tax rates on capital and labor.
“This reduction in GDP would translate into 0.8 percent lower wages and 311,000 fewer full-time equivalent jobs,” the Tax Foundation said.
Clinton’s tax plan includes a 4-percent surtax on people making more than $5 million per year, enacting the “Buffett Rule” so that taxpayers with adjusted gross incomes over $1 million pay at least 30 percent in taxes and capping the value of itemized deductions at 28 percent, the Tax Foundation notes.
The proposal would raise government revenue by nearly $500 billion over 10 years when not considering the broader effects on the economy. When reduced economic output is taken into account, the Foundation said, federal revenue increases by $191 billion.
When not accounting for changes in the economy, Clinton’s plan would lower the after-tax income of people in the top 10 percent by 0.7 percent and lower the after-tax incomes of those in the top 1 percent by 1.7 percent.
But when the reduced GDP is taken into consideration, Clinton’s proposal would lower all taxpayers’ after-tax incomes by at least 0.9 percent, according to the analysis.
During the Democrat presidential debate, Hillary Clinton stated: “We have the Affordable Care Act. Let’s make it work. We now have driven costs down to the lowest they’ve been in 50 years. Now we’ve got to get individual costs down. That’s what I’m planning to do.” PoltiFact,
Health care costs are the lowest in 50 years? That’s probably news to consumers who keep seeing their premiums and copays going up.
We decided to check the vital signs of this claim.
We found that Clinton was incorrect. The actual per-person cost of health care has increased steadily over the last half-century, according to a 2013 White House report.
When we contacted the Clinton campaign, spokesman Nick Merrill said what Clinton was actually talking about was the rate at which health care costs have been going up.
Running for president means being a Pander Bear, so it wasn’t surprising when Hillary Clinton was talking up the locals yesterday. She told a Keota, Iowa crowd on Tuesday, “This school district and these schools throughout Iowa are doing a better than average job.”
But then, she took it a step further and walked right into it: “Now, I wouldn’t keep any school open that wasn’t doing a better than average job. If a school’s not doing a good job, then, you know, that may not be good for the kids.”
People howled, naturally. Clinton clearly doesn’t understand how to calculate averages. That, or she wants to shut down half the schools in the country. Taken to its logical conclusion, if that policy were continued year after year, eventually we’d get down to one open public school in the country.
While Clinton has taken a beating for the dumb comment, perhaps its conclusion is more revealing: “If a school’s not doing a good job, then, you know, that may not be good for the kids.” Powerful, insightful stuff!
Another Obamacare insurance program was expected to “boost consumer choice and competition on the marketplaces has slipped off course and is so far failing to meet expectations.” The USA Today,
Since just a few insurers, or sometimes just one, dominate the market for individuals and small businesses in some states, the law sought to increase competition in those areas by calling for “multi-state” health plans that would be offered by some insurers. The law required that at least two multi-state plans be available to consumers in 31 states by 2014 and in all states by 2017, but it doesn’t require insurers to offer the plans and most so far have opted not to. Federal officials and insurance experts say it is unlikely that the 2017 goal will be met…
An OPM spokesperson said the agency doesn’t anticipate having a multi-state option available in every state by the 2017 deadline.
“OPM does not have the authority to compel any issuer to participate in the [multi-state plan] program,” said a spokesperson by email. “We are hopeful that there will be at least one new issuer or group of issuers participating in the MSP program in 2017.”