FOX NEWS says GOP Budgets will cause Trillions in Deficits for the US

http://www.addictinginfo.org/2015/11/06/fox-news-admits-gop-tax-plans-would-put-america-trillions-of-dollars-in-debt-video/

After last Wednesday’s GOP debate, it’s becoming difficult for even conservatives to agree that the current Republican candidates have reasonable solutions for improving and running America – especially when it comes to taxes and the federal budget.

This indisputable fact was highlighted on Thursday’s edition of Fox News’ Shepard Smith Reporting, when it was revealed by economists that the GOP candidates’ tax plans would actually drive UP national debt. Even worse, some of the presidential hopeful’s plans would add as much as trillions of dollars to America’s debt. Smith brought on Fox Business Network’s Peter Barnes to talk about how the Republican tax plans differed from each other, and the results were hard to swallow.

Using the results from an analysis done by the Tax Foundation, Barnes gave a run-down of tax plans from Bush, Cruz, Jindal, Paul, Rubio, Santorum, and Trump. Barnes reported:

“Jeb Bush reduced the seven current personal income tax brackets to three with the top rate of 28 percent instead of 39.6. He’d cap capital gains taxes at 20 percent and he’d cut the top corporate tax rate from 35 percent to 20 percent. Marco Rubio wants two personal tax brackets with a top tax rate of 35 percent. You’d pay no taxes on capital gains and investment gains with him. His corporate tax rate would be 25 percent. And for Donald Trump, there would be three brackets with a 25 percent top rate. Capital gains would be taxed at 20 percent and he wants a 15 percent top corporate tax rate. Now even assuming higher economic growth for all of these plans, the Tax Foundation estimates they’d add as little as $1.6 trillion more to the national debt in Bush’s case, and as much as $10 trillion more to the national debt for Trump.”