Posted on 03/03/2020 12:50:22 PM PST by karpov
If fully implemented, Senator Bernie Sanders’s agenda for the economy would represent a dramatic break with American precedent and impose major costs on our economic well-being. Working from data provided in the Council of Economic Advisers’s 2018–2020 Economic Reports of the President, I have calculated what the impact of Sanders’ policies could be—within, say, five to ten years of implementation. In my projections, the Sanders agenda would reduce real GDP and consumption by 24 percent, assuming that its taxation was efficient and prudent (focusing on labor and consumption taxes, rather than taxes on wealth, for example). Real wages would fall more than 50 percent after taxes, and employment and hours worked would fall a combined 16 percent. There would be less health care and childcare provided, less energy available to households, and less value added in the university sector. Though harder to forecast, the stock market would likely fall more than 50 percent. (Without any help from Sanders, the market has already dropped more than 10 percent over the past week, due to coronavirus fears.)
Sanders’s top priorities include effectively nationalizing three industries. The federal government would pay for all health care (Medicare for All, or M4A), public-college tuition, and childcare. Everything in these industries would be “free” to the consumer, with all costs shifted to the federal government. Profits and private advertising in health care would be prohibited, as would private health insurance. All health providers—hospitals and clinics—would have their capital investment financed and approved by the federal government, which would control the “means of production” in health care, even if it does not legally own them. Because the M4A principles regarding profits, advertising, and investment apply equally to public college and childcare, these two industries will, under the Sanders agenda, presumably operate like health care in these dimensions.
(Excerpt) Read more at city-journal.org ...
IOW, Hell on Earth!
Capitalism Earns it, Socialism Bern’s it!
I can’t see how anybody could be so stupid as to vote for this old fart. But apparently there are lots of them. Sad.
Super Tuesday open primary FReepers should get out and vote for Comrade Sanders. The Democrat machinery is lining up behind Biden, and we need to help blunt his momentum.
Never fear: it’s quite likely that no candidate will get a delegate majority, which means Sanders gets snubbed in Milwaukee. That means that every delegate Sanders brings will increase the chaotic impact.
Even the world socialists website, his comrades, don’t like this fraud.
By Patrick Martin
3 March 2020
World Socialist Web Site
https://www.wsws.org/en/articles/2020/03/03/dems-m03.html
“Sanders’ response to the Democratic Party’s open and unrestrained hostility to him exposes the depth of his own political demagogy.”
Yep, I’ve said, Karl would spit on him...uncle Joe would put one in the back of Bourgeois Bernie’s head.
What a FRAUD that “INDEPENDENT”/”SOCIAL DEMOCRAT” for 20 years on the body politic.
His position papers on “the struggle” show it. Wait...what?...
Prof Walter Scheidel of Stanford University has researched income and wealth redistribution throughout all of human history,
and discusses this in his book The Great Leveler.
He found that there have only been four ways this has ever been accomplished,
and all four ways achieve leveling by bringing about widespread impoverishment:
(1) mass-mobilization warfare, (2) transformative revolutions, (3) state collapse, and (4) catastrophic plagues.
No other way has ever achieved was Bernie proposes.
It is remarkable that such an uncharismatic idiot like Bernie has become so popular. He’s basically AOC without the nice rack.
The other democrats would also destroy the economy. It would just be more gradual and most people would not know what caused it. Even more insidious.
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