Sanders releases list of how to pay for his proposals

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.

The money would come from making the fossil fuel industry pay for “their pollution,”

They would NOT pay.

WE would pay.

At the pump.

Correct. Sanders lacks any basic understanding of how anything financial actually works. He’s a complete idiot.

He’s been running his mouth his whole life without ever producing a single thing, other than hot air.

“....Socialists like Santa Claus Bernie believe corporations have warehouses full of stacks of gold bars ....”

I call their economics “Scrooge McDuck” economics!

Remember in the old Disney cartoons Uncle Scrooge could go down in his basement and roll around in his money.

Bernie’s tax plan is going nowhere!

Dumbass has never taken the first Economics course. Or, if he did, he was stoned the whole semester!

Your tax plan is a non-starter, Bernie!

You are a LIEberal loser, Bernie!

Correction: He is raising taxes on families making anything over $0.

How does anyone think the 7.5% premium on employers will be paid? Through wage cuts of 7.5% is how. And most people, unfortunately due to the dumbed down K-12 system, won’t get it that their employer should’ve cut their salary by just 6.98% to make it break-even.

In the short run the employers would just “eat it” on the 7.5% premium. However by the time such legislation could get through Congress, signed into law, and regulations go out to implement - we’re looking at January 2022 as the earliest it could take effect. Starting November 2020 (if he becomes President-Elect) we’ll see employers planning ahead on how to handle the impact and well before January 2022 this 7% cut in 2022 pay will be start being implemented. It’ll come in smaller or no raises at all. It’ll come in smaller bonuses or tightened rules. It’ll come in less employees being hired. It’ll come in pay cuts.

As for the gray economy is concerned - its going to be a BOOM time. Currently it costs 12.4% for Social Security, 2.9% for Medicare, and even more than that for Middle/Upper wage workers. This Sanders plan will raise that this to 19.9% for every penny and then about 47.9% for middle imncomes with higher incomes having an even higher effective tax rate. Why will people continue to hire legal residents/citizens when they can just hire people under the table (some legal, some illegal) to do many jobs like agriculture, construction, nails/cosmetics/hair, deliveries, and a lot more? I expect to see more cash-based businesses growing in America if Sanders is elected President.

Correction: 22.8% on all wages; not 19.9%

2.9% Medicare + 12.4% Social Security + 7.5% Sanders Care

Every penny of wages taxed at a floor of 22.8%.
Of course at the super rich level of 10 million its 52%.
However that 52% level can always trickle down to much lower wage levels. Look what happened to the original Income Tax of 115 years ago that was 2% on incomes over 5K (or 130K+ in today’s dollars). Any of the “super rich” having such a tax rate level?

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