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Estimated cost of each candidates policy proposals

post #1 of 10
Thread Starter 
...as estimated by the Committee for a Responsible Budget and reported by Kiplinger:

http://finance.yahoo.com/taxes/artic...licy-Proposals

http://finance.yahoo.com/taxes/artic...licy-Proposals

PDF side-by-side comparison: http://www.newamerica.net/files/usbw0915promises.pdf

Laurie
post #2 of 10
Quote:
Originally Posted by LDG View Post
...as estimated by the Committee for a Responsible Budget and reported by Kiplinger:

http://finance.yahoo.com/taxes/artic...licy-Proposals

http://finance.yahoo.com/taxes/artic...licy-Proposals

PDF side-by-side comparison: http://www.newamerica.net/files/usbw0915promises.pdf

Laurie
THANKS!
You know your stuff that is for sure.
post #3 of 10
Thanks for posting that, Laurie!
post #4 of 10
What a great site!! Excellent information - I'm printing it up on my color-printer for a more careful study tonight!!!
Ahhh, a well-informed voter who isn't relying on the mainstream media-hype - Laurie, you a Founding Father's dream voter
post #5 of 10
Quote:
Originally Posted by catsknowme View Post
What a great site!! Excellent information - I'm printing it up on my color-printer for a more careful study tonight!!!
Ahhh, a well-informed voter who isn't relying on the mainstream media-hype - Laurie, you a Founding Father's dream voter
Yes, thank you very much Laurie!
post #6 of 10
It's interesting to see a comparison like that, but it's important to remember that as events come up, those projections can change a lot. Just as an example, Bill Clinton's long-term budgeting was calculated to be well into deficit spending for his entire 8 years, and yet we ended up with a "paper surplus." The difference, which he hadn't planned on, was a big boom in the economy and major restructuring after 1994.

The CBO projected George Bush's budgets to be in surplus for his entire 8 years, and yet it has been in deficit since the first year. What happened? A minor recession the last year of Clinton, plus 9/11, plus a couple of wars.

You could go back farther, say to 1935, and see what projections were and how far they were off, but it would just prove the point that most projections are pretty unreliable.

An example of how hard it is to predict the cost of any program would be Medicare, which was supposed to be a fairly small program and now is threatening to break the whole US budget.
post #7 of 10
Quote:
Originally Posted by mrblanche View Post
It's interesting to see a comparison like that, but it's important to remember that as events come up, those projections can change a lot.
Absolutely agree with you there. I'm reading it from the perspective of the "intention" of the candidate, not with the assumption that all of these things would become reality when either party wins the election.
post #8 of 10
And that's a good way to do it. Sometimes the candidates will have great ideas, and usually they have plenty of budget experts to point out erroneous projections, but they still fall in traps.

A good example is the luxury tax that was put into place about 25 years ago. It was on "gas guzzler" cars, yachts, that sort of thing. What do you think the result was?

For one thing, every yacht manufacturer in the U.S. went out of business in the next five years, and very little (less than $1,000,000) was every collected of that particular tax.

Little errors like that in assumptions can make huge differences over time.

Some have said that the candidates need to have a psychologist sitting next to their budget expert, because the psychologist is better at predicting what the effect of the taxes might be.
post #9 of 10
Thanks!

Not knowing the costs of some of the things each candidate is proposing is one thing that has kept me on the fence. I think that link will go a long way towards helping me make up my mind.
post #10 of 10
Thread Starter 
Quote:
Originally Posted by Momofmany View Post
Absolutely agree with you there. I'm reading it from the perspective of the "intention" of the candidate, not with the assumption that all of these things would become reality when either party wins the election.
Exactly, Amy! And obviously it doesn't include issues re: the pending rescue package.

Laurie
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