Posted on 02/25/2020 4:18:08 AM PST by karpov
Sen. Bernie Sanders (I-Vt.) on Monday night released a list of how he plans to pay for his proposals.
The presidential candidate announced during a CNN town hall Monday night that he planned to distinguish himself from President Trump and the promises the Trump campaign made in 2016 by posting to his website a detailed proposal on how to raise money for his plans.
The list published Monday details how the senator plans to pay for his big ticket promises like Medicare for All and the Green New Deal, in addition to smaller plans like Housing for All.
Sanders said he planned to raise $16.3 trillion for the Green New Deal to combat climate change.
The money would come from making the fossil fuel industry pay for “their pollution,” garnering profit from the wholesale of energy, decreasing defense spending, getting new income tax revenue and saving federal and state safety net spending from the jobs created in the plan and enforcing higher taxes on large corporations.
For the Medicare for All plan, Sanders said he plans to create a 4 percent income-based premium while exempting the first $29,000 in income for a family of four, requiring employers to pay a 7.5 percent income-based premium, getting rid of health tax expenditures and increasing the top marginal income tax to 52 percent on incomes over $10 million.
He also would tax capital gains at the same rates of income from wages, enact the For the 99.8% Act, reform the corporate tax system and use money from the tax on the extremely wealthy.
But CNN's Chris Cuomo said Sanders's plan for Medicare for All "is not matching the price tag" of the total estimated cost.
(Excerpt) Read more at thehill.com ...
Well if you are truly a deficit hawk then what's so bad about that? What so bad about a consumption tax? What's so bad about promoting domestic oil production ( jobs jobs jobs )? What so bad about lowering the trade deficit? I tariff on IMPORTED OIL will do all those things. WIN - WIN - WIN.
Well we do know the black market would definitely grow. Remember, the black market in the USSR?
Actually the black market is HUGE under our current system.
2 words for Crazy Bernie: Laffer Curve.
Fredo is smaaat.
What he means is eliminating the health care deduction. This is right from his website:
:"Eliminating health tax expenditures, which would no longer be needed under Medicare for All. (Revenue raised: About $3 trillion over 10 years.)"
What he means is we can't deduct the $90k in assisted living expenses which offset the $90k in IRA withdrawals needed to pay for assisted living. Obviously Medicaid-for-all is not going to cover dignified assisted living. It will instead include the current Medicaid-funded nursing homes i.e. "oxycontin warehousing for the almost-dead". FU BS and GTH.
Someone should explain to Bernie that CEOs get paid big money because they are worth more to the success of the company than the "average worker". Watch what happens to the company if you put an "average worker" into the CEO position. Bernie should put HIS money where his mouth is by giving away HIS salary to charity. He's rich, he won't miss that money.
Let me be the first to send my portion of $10,000 to DC.
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no need to send it in - it will be deducted from you pay check r bank account automatically - if you make or have less than $10K, it will be deducted from someone else’s account/paycheck. See simple socialism, easy and free
Again, you seem to have a very rosy outlook on government spending.
Why do you believe the federal government will EVER operate at a surplus long enough to pay down our national debt?
Why do you think a ‘tax on fossil fuels’ will be limited to ‘fossil fuels produced overseas’?
Your statements are illogical, and like the Bernie-bots, you seem to live in a fantasy world. Maybe you are just another Bernie-bot, too.
A wealth tax is unconstitutional. It violates Article I, Section Nine, item 4.
Punitive lawsuits and taxes against the oil and gas industry will absolutely cripple the industry, which is barely surviving as it is. Low prices right now are forcing companies to abandon plans to drill...it’s just not economic. The rig count continues to drop. Yes, Bernie’s actions will cause oil prices to go up, but at no gain for the companies. Look for gasoline, heating oil, and natural gas shortages coming your way. Socialist lines are on the way!
I’ve read a few articles now, and the comments in this thread, and no one is picking up on probably the scariest idea in this barrel of madness. To partially pay for his Green New Deal, the second bullet in his plan reads as follows:
Generating $6.4 trillion in revenue from the wholesale of energy produced by the regional Power Marketing Administrations. This revenue will be collected from 2023-2035, and after 2035 electricity will be virtually free, aside from operations and maintenance costs.
Take careful note of “...energy produced by the regional Power Marketing Administrations.” Sanders is suggesting that he will nationalize (i.e., socialize) electrical power production in the US. It’s unclear from these scant details if he’s suggesting that private power utilities will be “bought up” by the government and then administered by his “Ministry of Power,” or if the power these privately held utilities produce will be controlled/distributed by a government “marketing administration.” Either way, this is a disaster waiting to happen for several reasons.
What does spending have to do with income? Nothing. As a bean counter you should know better.
It is now once again time for the classic from Bill Whittle entitled “Eat the Rich”:
https://www.youtube.com/watch?v=661pi6K-8WQ
The “rich” don’t have anywhere near enough money to pay for these schemes.
Yep, the Senior Advisor for the Bloomberg Campaign just went there... pic.twitter.com/7Rqx2uVX9n— M3thods (@M2Madness) February 25, 2020
Crater the economy.
Spending and income are related. Since you mentioned being a deficit hawk, I thought you would have understood that.
The Dems are a train wreck. They are all attacking Sanders and generating reams of material for President Trump to use against him in the fall. Bloomberg may well damage Sanders, but his own ineptness makes it unlikely he will get the nomination - even with his billions. Biden appears to be one step away from full dementia. Butt boy can’t win the black vote.
In this case, federal spending, Congress doesn't care one wit about income. They set spending regardless of revenue projection. The two are completely decoupled.
Tariffs raise revenue and closes the deficit gap. All of you deficit hawks should be wildly in favor of them. Or continue to be hypocrites.
Have you seen the side-by-side vid of Buttedge imitating 0bama, exactly? Same pause in words, same body positions, etc.
What a fool....it looks like he spent hours, in front of a mirror, practicing how to be 0.
There should be some kind of “Bernieland” simulation where anyone considering voting for him/similar, has to do pratical things throughout the course of a day in a world where he was President (i.e. file a tax return, get gas if cars even still exist, etc). Or maybe someone can devise some documentary of such a thing and air it primetime. Too many people have no concept of what his proposals would equate to.
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