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Amy Klobuchar Proposes Largest Tax Increase in History
With Only a Fraction of her Health Care Plan Covered, What other Taxes will she Raise?
St. Paul,
Mar 7 -
After Friday’s debate among Minnesota’s U.S. Senate candidates, there are two things that are clear about Amy Klobuchar’s candidacy: She is proposing a health care plan that would cost well over a trillion dollars, and she proposed the largest tax increase in history. However, her near trillion-dollar tax increase would cover only a fraction of her plan.
“In spite of offering the largest tax increase in history, it would cover only a fraction of Amy Klobuchar’s trillion dollar government-run health care plan,” said Mark Kennedy. “As a self-proclaimed advocate of returning to the pay-as-you-go system, Ms. Klobuchar should tell Minnesotans what other taxes she plans on raising to cover the cost of her health care plan.”
According to the non-partisan Congressional Budget Office (CBO), by partially repealing the tax relief of 2001 and 2003, Klobuchar’s tax increase would cost taxpayers an estimated $900 billion over 10 years - nearly double the size of the Clinton tax increase of $482 billion over 10 years.
Klobuchar’s plan to eliminate the 2001 and 2003 tax relief that is credited with creating nearly 5 million jobs would be hazardous to our economy. Without it, unemployment would go up, the deficit would balloon, and still only a fraction of Klobuchar’s health care plan would be covered.
Amy Klobuchar has advocated opening the federal employee health care plan to “everyone.” According to the non-partisan Heritage Foundation, the annual health care subsidy for federal employees in 2006 is $3,618.68 for a single person and $8,218.08 for families. If just the 45 million uninsured were to be covered by Klobuchar’s health care plan, it would cost over $1.6 trillion dollars over 10 years.
“Amy Klobuchar’s plan for government-run health care is bad for Minnesota taxpayers, bad for the Minnesota economy, and bad for Minnesota families,” concluded Kennedy. “But the massive tax increases needed to pay for her plan are even worse medicine.”
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