Yikes - some numbers

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They simply can not be serious about this - it would be political suicide. Are they living in a bubble? The answer should be obvious. From Yahoo Finance:

The Democratic plan for a 42% national sales tax
If you’re a Democrat who supports “Medicare for All,” pick your poison. You can ruin your political career and immolate your party by imposing a ruinous new sales tax, a gargantuan income tax hike or a surtax on corporate income that would wreck thousands of businesses.

This is the cost of bold plans.

Supporters of Medicare for All, the huge, single-payer government health plan backed by Bernie Sanders, Elizabeth Warren and several other Democratic presidential candidates, say it’s time to think big and move to a health plan that covers everyone. Getting there is a bit tricky, however. A variety of analyses estimate that Medicare for All would require at least $3 trillion in new spending. That’s about as much tax revenue as the government brings in now. So if paid for through new taxes, federal taxation would have to roughly double.

A long but well researched article - basically, to pay for what the Democrats are promising, we would need to raise taxes that much. Taxing the ultra-welathy simply would not generate enough money to fully fund their plans. Bill Whittle and Iowahawk ran the numbers back in 2011 and their research is still accurate - nine minutes of your time:

The money to impliment these plans simply is not there - the Democrats need to be honest and show their math.

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This page contains a single entry by DaveH published on October 29, 2019 9:34 AM.

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