The Price for Change

I’ll admit to being surprisingly moved, and even enlightened by Barack Obama’s stirring and undoubtedly historic speech for his nomination at the DNC. One line in particular called out to me.

“America, now is not the time for small plans.”

Taxpayers beware. While it was enlightening to hear Obama articulate the modern day ideals of the Democratic party, and how it views Republican philosophy, my skepticism kicked in after hearing the word “change” uttered over a dozen times throughout.

An “army” of new teachers. Five million new jobs that pay well and can “never” be outsourced. The genuine intention to solve “climate change” which well over 31,000 scientists have signed a petition stating there is no conclusive evidence man is creating the undeniable warming of the planet, and the $3 trillion tax scheme to throw money at the problem in the form of cap and trade which both Obama and McCain are vying for.

Yet his claim for cutting taxes for 95% of American families sounded reassuring enough, and this other line was my particular favorite.

“I will also go through the federal budget, line by line, eliminating programs that no longer work and making the ones we do need work better and cost less because we cannot meet 21st century challenges with a 20th century bureaucracy.”

But the cost analysis calculated by the National Taxpayers Union Foundation tells another reality. According to their most recent studies, Obama’s proposals represent over $340 billion in yearly deficits for government spending.

Anyone who has studied and compared economic policies that actually work and those that fail consistently, would naturally be weary. Michael Tanner, director of Health and Welfare Studies at the Cato Institute recently highlighted some of Obama’s policy details that inevitably add up. Particularly in the future for millions of young voters who are naturally inspired by the message of “change”. His opposing benefit cuts that allows workers to privately invest a portion of their Social Security, increasing benefits under Medicare’s prescription program which thanks to Bush is already estimated at $10 trillion (yes, with a “t”), and Obama’s “community rating” requirement where health insurers must charge everyone the same premium regardless of health status all come with a burdensome price tag.

Even the Congressional Budget Office’s projections state that unless spending is brought under control, both corporate and income tax rates will rise from 35% to 88%, the current 25% tax rate for middle-income workers to 63%, and the 10% tax bracket for low-income workers to 25%. A drastically, and calamitously different picture than a simple platitude claiming tax cuts for 95% of working families.

But who am I to read between the lines and question the Democrat party’s judgement? Just another taxpayer skeptical of the actual price for “change”.