Elizabeth Warren's Trillion Dollar Tax Increase

http://www.futureofcapitalism.com/2012/07/elizabeth-warren-trillion-dollar-tax-increase

The Boston Globe asked Senator Scott Brown and challenger Elizabeth Warren for their ideas on closing the federal budget deficit. The newspaper reports:

Warren finds the bulk of her deficit reduction — $941 billion – by letting the Bush tax cuts expire for those earning $250,000 a year and by raising estate taxes to their 2009 levels. She would also collect about $46 billion in new taxes by imposing the Buffett Rule.

That is $987,000,000,000 in tax increases. If she can get elected senator in Massachusetts on a campaign promise of a trillion dollar tax increase, then Massachusetts voters are even more left wing than I think they are. And remember, once they get into office, politicians almost always raise taxes by more than what they say they will during the campaign, so if Professor Warren is willing to say during the campaign that she wants to raise taxes by a trillion dollars, imagine what she would do if she actually gets elected.

by Editor  |  Jul 11, 2012 at 9:42 am Related Topics:  Politics, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list