Andrew Gillum’s Proposals Would Cost Floridians Billions

The James Madison Institute, a nationally respected, non-partisan economic think-tank, recently released a report analyzing the policy proposals of the two candidates in Florida’s gubernatorial race. The peer-reviewed study, conducted in conjunction with the Washington Economic Group and the firm Arduin, Laffer, and Moore, demonstrates the dramatic difference between Ron DeSantis and Andrew Gillum and underscores just how important the November election is.

The report finds that in order to pay for Andrew Gillum’s economic proposals, there would have to be an:

* Increase in Florida’s corporate income tax, which would make it the 2nd highest in the U.S.

* Increase in Florida’s sales tax to 39 percent OR Florida would have to levy, for the first time ever, a state income tax as high as 37 percent.

Just think about that for a second – a 37 percent state income tax levied on all Floridians. Let’s break this down: Andrew Gillum’s economic proposal would force businesses to relocate and would cost Florida over 150,000 jobs and over $28 billion in economic losses annually. In total, Andrew Gillum’s proposals would cost Floridians $2.6 billion.

Alternatively, Ron DeSantis’ pro-growth economic agenda would lead to the creation of more than 200,000 jobs annually and more that $25 billion in annual economic output.

Florida simply can’t afford Andrew Gillum and the astronomical costs of his proposals.

Gillum’s Proposed Agenda Would Require: 2nd Highest Corporate Tax Rate, a 39% Sales Tax or a 37% Income Tax. “All told, the policy agenda Candidate Gillum proposes would require an increase in the corporate tax rate to the 2nd highest in the United States, an increase in Florida’s sales tax to 39 percent, or the imposition of a state income tax as high as 37 percent.” (Dr. J. Antonio Vilamil & Donna Arduin, “Election 2018: Platforms, Proposals, Projections,” The James Madison Institute, 10/15/2018).

Gillum’s Agenda Would Cost Over 150,000 jobs and $28 Billion in Economic Losses, Annually. “Consequently, the economic impacts of abandoning the current low tax/top business climate rankings of Florida, based on the experience of the higher tax states presented in this brief, would ultimately cost Florida direct employment losses of 155,000 jobs and $28.2 billion in economic losses per year.” (Dr. J. Antonio Vilamil & Donna Arduin, “Election 2018: Platforms, Proposals, Projections,” The James Madison Institute, 10/15/2018).

Ron DeSantis’ Agenda Would Create, Each Year, Over 200,000 Jobs and $25 Billion in Additional Economic Output. “Ultimately, this agenda would lead to the creation of 215,000 jobs annually and $26.6 billion in annual economic output.” (Dr. J. Antonio Vilamil & Donna Arduin, “Election 2018: Platforms, Proposals, Projections,” The James Madison Institute, 10/15/2018).

Gillum’s Spending Proposals Would Cost Floridians an Additional $2.6 Billion in State Taxes. “Candidate Gillum’s spending proposals will cost $2.6 billion in additional state taxes, not including his support for Medicare-For-All, which will raise taxes significantly more.” (Dr. J. Antonio Vilamil & Donna Arduin, “Election 2018: Platforms, Proposals, Projections,” The James Madison Institute, 10/15/2018).

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2018-10-22T00:17:55+00:00 October 22nd, 2018|