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FL Election: Gillum vs DeSantis

Posted by FactReal on November 4, 2018

A study by the Tallahassee-based think tank, James Madison Institute (JMI), shows how opposite are the agendas of the two candidates running for Florida Governor: Andrew Gillum (Democrat) and Ron DeSantis (Republican).

Andrew Gillum = Annual Losses for Florida:
Gillum’s agenda “would ultimately cost Florida direct employment losses of 155,000 jobs and $28.2 billion in economic losses per year,” JMI study found.

Results of Gillum’s Agenda of High-Taxes and Government-Dependency:
♦ Employment would lose 155,188 direct jobs plus 111,355 indirect jobs; a total impact of 266,543 job lost annually.
♦ Household Income (worker income) for Floridians would lose $11.5 billion each year.
♦ Total economic impact would be negative: that is a loss of $28.2 billion annually.

Gillum would also:
♦ Abandon the current low tax and pro-growth policy-making that have put Florida in a positive trajectory so far.
♦ Increase corporate tax rate to 11%.
♦ Increase sales tax to 39%.
♦ Or impose a state income tax of 37%.

“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 [11%], an increase in Florida’s sales tax to 39 percent, or the imposition of a state income tax as high as 37 percent.” (JMI’s Executive Summary)

“[A] rate increase to 11 percent would reduce Florida’s GDP by 1.2 percent, or $12 billion.” (JMI, page 5)

“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. If Candidate Gillum proposes paying for his spending proposals via Florida’s corporate income tax, then on a static basis [businesses not leaving Florida], his corporate tax rate would have to rise to 11 percent, just above Pennsylvania’s tax rate, and even surpassing California’s rate.” (JMI, page 4)

Source: JMI study, page 16, table 5.


Ron DeSantis = Positive Results for Florida:
Ron DeSantis’ agenda “would lead to the creation of 215,000 jobs annually and $26.6 billion in annual economic output,” JMI study found.

Results of DeSantis’ Agenda of Low-Tax and Pro-Growth:
♦ Employment would grow by an estimated 215,136 jobs annually.
♦ Household Income (worker income) for Floridians would expand $9.9 billion each year.
♦ Total economic impact would be positive: that is a gain of $26.6 billion annually.

“Candidate Ron DeSantis agenda – to largely maintain the pro-growth-oriented strategy of Florida through low and stable taxes, would preserve and strengthen the state’s business climate, which supports the attraction, retention and expansion of employment-generating business enterprises. This agenda also includes investing in the “classroom” the savings from lower educational administration costs, and in technical/vocational programs to improve workforce development.” (JMI’s Executive Summary)

“During Governor Scott’s term, tax cuts have saved Floridians more than $10 billion, putting the money back in the private sector to be invested in job creation. Florida consistently ranks among the best states for business, thanks to its state tax policies, competitive cost of doing business and streamlined regulatory climate.34 Candidate DeSantis’ tax and regulatory policies will maintain Florida’s competitiveness in bringing jobs, investment, and opportunity to our state.” (JMI on page 10)

Source: JMI study, page 17, table 6.

The James Madison Institute (JMI), “Election 2018: Platforms, Proposals, Projections.” (10/15/2018).

Click to access Election-2018.pdf

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