Skip to comments.Sanders releases list of how to pay for his proposals
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 ...
It will also promote the domestic oil production industry, help balance the federal budget and reduce the trade deficit. So for those reasons I am in favor of an oil import tariff. It would be a GREAT thing.
Maybe offsetting income tax reduction would be a good thing too.
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.
The Vermont progressive's plans for College for All and removing student debt would be funded by a tax on Wall Street speculation, according to the list. Housing for All and universal childcare and pre-K would be funded by the wealth tax on the 0.1 percent, or those making more than $32 million.
Meaning weakening the country at a time of increasing military threats, and punishing the industry that has greatly helped the economy, and reducing taxable income while increasing taxes on those who pay the most taxes, thereby hurting the economy, weakening the rich to supposedly strengthen the poor, thereby reducing taxable income while increasing taxes on those who pay the most taxes, and thereby supposedly strengthen the poor by weakening the rich, and punishing financial profit, while fostering indolence and dependence upon the State.
Meaning punishing capitalism to slide towards state control of industry and communism.
Sanders wants to ban fracking, the reason we are now energy independent and a net exporter of hydrocarbons.
Then, he is going to tax incoming oil so the gov’t makes more of a profit than any private enterprise.
Sanders is in the pocket of OPEC.
I am in favor of the import tariff and a total hands off approach to domestic oil production. Drill baby, drill!!!
They would NOT pay.
WE would pay.
At the pump.
Where do simply you see an oil import tariff in "making the fossil fuel industry pay for their pollution? Socialist Sanders means to punish the energy sector, defense, Wall Street, and capitalists in general in order to foster indolence and dependence upon the State, which will enforce PC conformity.
No, I want the tariff and to then DRILL Baby Drill!!! The tariff has nothing to do with the climate change hoax.
...making the fossil fuel industry pay for their pollution,...
Just where do you think the "fossil fuel industry" gets their money from? If you make them pay, they are going to pass on the added expense to their customers - that's us folks.
...garnering profit from the wholesale of energy...
That's lib-speak for increased taxation of the energy industry. Guess what happens when their costs go up? They are going to pass on the added expense to their customers - that's us folks.
...decreasing defense spending...
Ah yes, the "peace dividend" because nation-state and state-like actors such as China, North Korea, Iran, ISIS, etc. are all preparing to sit around the camp fire singing kumbya. Only problem is, the campsites they've picked out are all in neighboring countries and regions that they'd like to take over or at least subvert to their will. It's a dangerous world.
...getting new income tax revenue...
Ah, well at least here buried in the midst of the BS is a shred of honesty. Right there folks, they want to come for more of our money.
...saving federal and state safety net spending from the jobs created...
Oh, you mean like those created by President Trump's policies that have resulted in record low unemployment rates, increasing labor force participation rates, and reduce food stamp and other assistance program use?
...enforcing higher taxes on large corporations....
Oh, so it's not just fossil fuel companies and the energy industry in general, and individuals who will feel an increased tax bite - it is nearly every company. We all know the devil is in the details and I'm sure the tax fairy would visit her hell upon not just multi-billion dollar a year companies but all the way down to mom & pop outfits. Guess what happens when their costs go up? They are going to pass on the added expense to their customers - that's us folks.
...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...
Short version: more government taxation (by any other name, just as odious) and you know the story, who ultimately pays for that?
...increasing the top marginal income tax to 52 percent...
Really starting to sound like a broken record here - more taxes, paid for by...you guessed it, us!
...He also would tax capital gains at the same rates...
More taxes, money out of our pockets.
...enact the For the 99.8% Act...
Yet more taxes, more money out of our pockets.
...reform the corporate tax system...
If you're "reforming" to increase government revenue then basically you're saying you're going to increase corporate taxes. Guess what happens when their costs go up? They are going to pass on the added expense to their customers - that's us folks.
...use money from the tax on the extremely wealthy...
Again, the devil is in the details. Just who do you think an avowed communist considers "extremely wealthy?" If you have a computer or smart phone and you're reading this, compared to our beloved comrades throughout the world you/me/we are "extremely wealthy" and guess what, more taxes...
What it really comes down to, when you filter out all the BS is fundamentally two different systems for society.
Capitalism, for all it's warts and inequities both actual and merely perceived works. You have options. Maybe not a lot, maybe not the ones you want. Hey, none of us are likely to be living in Malibu, dating a supermodel, and driving a Ferrari. But with a job and a little money in our pocket our choices and our destiny are our own.
Socialism, communism, marxism, democratic socialism, fascism... Whatever name you want to give it, however you want to organize and enforce it, sucks. Sure, they sound wonderful at first, or on the surface - we'll take care of you! Look at all these great services and things we can do for you! You won't have to worry about X, Y, or Z! Anyone remember that scene from "The Avengers" where Loki is addressing the kneeling crowd, telling them something to the effect of he's there to free them from freedom? Yeah, Sanders and his ilk are Loki. They don't want to provide all these great things to us 'cause they like us or care about us. They want power and control. Everything we make, or nearly everything we make - taken as taxes, managed by the government, then services provided. Services as deemed sufficient by the government. It is literally turning over virtually all your freedom and power to the government. No thank you. In fact hell no.
All of the people who were threatened with high taxes, millionaires and billionaires will leave and safe guard their money THE MIDDLE CLASS once again who the socialist and rats call rich will foot the bill
Any way you cut it, to paraphrase, one cannot cut from the top of the blanket and expect the bottom of the blanket to grow; the blanket will only get shorter.
His numbers do NOT add up. If one really wants to improve this countries balance of trade, we should export every communist, socialist and democrat here to Venezuela, Cuba, China, France, Sweden, and North Korea.
We should then invite anyone who wants to work for a living. Our GDP would shoot up 40% the first year!
He’ll fund his agenda by putting hundreds of thousands of insurance company employees out of work, growing government, imposing artificial and prohibitive price controls on the energy industry, destroying the stock market and by extension the retirement accounts and accumulated savings of many Americans, and soaking the rich to the point where all but the most disinterested or elderly abandon America. He’s promising all of this and his supporters believe not only that their time is now, they will not have a lot of patience for anyone delaying the plans.
So among other necessities, he wants gasoline to be $10/gallon? I wonder if anyone on the stage at the next debate will ask him about that.........I suspect it will be crickets.
Nice synopsis. Let me add that while its true these entities will all pass along the cost of doing business to their customers, whats more alarming is the prospect of the government stepping in and setting price controls, regulations,nationalization and central economic planning.
So, let’s see...
Establishes the judiciary branch as a tax authority, bypassing the requirement that all budgetary bills start in the House by making a pitstop at the judiciary lawsuit bar...
Raises prices on everything since corporations don’t invent money, as well as reducing jobs.
Raising income taxes for anyone not getting freebies - oh, by the way, if you’re an illegal, come get your freebies, no need to prove any income since that might expose illegal employment too.
Yep, seems like the normal liberal ideology, give away other people’s money and create even more dependent people by crashing the economy.
We joke about Venezuela being some kind of warning. Liberals view it as a roadmap to electability.
Multiply his numbers by 2 or 3 to get the real taxes.
LOL. We already know. Make the “rich” pay their “fair share”. If the “rich” just paid “a little more”, everything would be paid for!!!!
What makes you think he is talking about a tariff? Even less so since we are importing so much less now.
Theyre talking about a tax on purchasers, since they want us to stop using energy.
This is so scary, his plan would devastate the economy. Massive unemployment and famine conditions would be the results.
IOW Same old leftist non-sense.
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