"I venture to suggest that patriotism is not a short and frenzied outburst
of emotion but the tranquil and steady dedication of a lifetime."
— Adlai E. Stevenson, American statesman (1900-1965).

Sunday, October 26, 2008

This is awesome



(h/t to foilhatsunite for finding this gem.)
Posted by at

1 comment:

  1. AnonymousOctober 27, 2008 at 9:20 AM

    Center for Data Analysis (CDA) analysts used an analytical tool that permits taxpayers and policy­makers to see the side-by-side economic effects of the two plans: We used CDA tax models and tax information from other sources as inputs to Global Insight's (GI) U.S. Macroeconomic Model (the ana­lytical tool), one of the most widely respected fore­casting models.[2] Comparison of the likely economic and fiscal effects of these two competing plans is greatly facilitated by using the same eco­nomic model to evaluate both approaches. This report's findings include:

    Jobs respond more to McCain's plan than to Obama's. Job growth over the 10-year forecast horizon is more than twice as high under McCain's plan than under Obama's. Total employment grows an average of 915,800 jobs under Obama, and by 2,126,000 under McCain. Both plans encourage job creation in each year of the forecast, but McCain's approach leads to sig­nificantly larger job growth, and sooner. By 2018, McCain's plan, which makes the Bush tax reduc­tions permanent and lowers the tax rate on cor­porate profits, creates an additional 3,426,500 jobs. Senator Obama, however, raises taxes on many of the economy's key investors and busi­ness owners. Job growth under his plan for that same year is lower, at 1,576,200.


    Overall economic activity more vigorous under McCain's plan. Senator McCain's plan yields consistently higher forecasts of economic output than does Senator Obama's. Increases in gross domestic product (GDP) under McCain are, on average, nearly three times higher than under Obama. The growth rate of the economy increases a full half percentage point in 2011 and 2012, when taxes will increase under cur­rent law. Under McCain's plan, the average annualized GDP growth rate increases by 0.3 percent. The Obama plan also leads to higher rates of economic growth as a result of making some parts of the Bush tax reductions perma­nent. The economy as measured by GDP grows modestly more than does the CBO baseline: Growth rates are 0.1 percent higher on average for the 10-year period. By 2018, GDP is $320.7 billion (after inflation) higher under the McCain plan than under Obama's.
    More after-tax spending potential under McCain than under Obama. Using the same model to evaluate both plans, our analysis shows that a family of four will have an average of $5,138 more in disposable income under McCain's plan, and $3,631 more under Obama's. This average increase in disposable income is the combination of lower taxes on the average family, higher employment, and increased growth under both plans. By 2018, family-of-four disposable income under McCain is forecast to be $9,750 (after infla­tion) higher than baseline. This same family unit would see its inflation-adjusted disposable income surpass the baseline by $5,620 under Senator Obama's plan.

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Those who cannot learn from history are condemned to repeat it
~George Santayana

They must have read my mind...

hat tip to abaycircus for finding this gem: