Bankrupting Our Children's Future: Why Spending and Entitlement Reform Is Vital
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Bankrupting Our Children’s Future: Why Spending and Entitlement Reform Is Vital Alison Fraser The Heritage Foundation Southern California Community Committee June 9, 2010
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Heritage Foundation economist Alison Fraser's presentation on runaway government spending on Social Security, Medicare and Medicaid to the Southern California Committee for Heritage on June 9, 2010.
Transcript of Bankrupting Our Children's Future: Why Spending and Entitlement Reform Is Vital
Bankrupting Our Children’s Future: Why Spending and Entitlement Reform Is Vital
Alison FraserThe Heritage Foundation
Southern California Community Committee June 9, 2010
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1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055
Federal Spending and Tax Revenue as a Percentage of Gross Domestic ProductSource: Congressional Budget Office and Office of Management and Budget
Medicare
Medicaid
Social Security
Federal Budget in the Future
2009
Tax Revenue
Other Spending
Net Interest
Historical Average Tax Burden, 18.3%
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1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055
Federal Spending and Tax Revenue as a Percentage of Gross Domestic ProductSource: Congressional Budget Office and Office of Management and Budget
Medicare
Medicaid
Social Security
Could Raise Taxes to Balance the Budget
2009
Tax Revenue
Other SpendingNet Interest
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2535 35
01020304050607080
LowestBracket
MiddleBracket
HighestBracket
CorporateTaxes
What would balancing mean for tax rates on our children?
2009 2009 2009 2009
Source: Congressional Budget Office
Marginal Income Tax Rates
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2535 35
19
47
66 66
01020304050607080
LowestBracket
MiddleBracket
HighestBracket
CorporateTaxes
What would balancing mean for tax rates on our children?
2009 2050 2009 2009 20092050 2050 2050
Source: Congressional Budget Office
Marginal Income Tax Rates
