ST Alpha - "That link to Bernie's "How do we pay for it?" is amazing!" (Reading a Post)

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That link to Bernie's "How do we pay for it?" is amazing!

Posted by Will Hunting (aka JoeMetz) Mar 4 '20, 09:07

How we pay for it:
Current federal, state and local government spending over the next ten years is projected to total about $30 trillion.
The revenue options Bernie has proposed total $17.5 Trillion
$30 trillion + $17.5 trillion = $47.5 Trillion total

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The US Federal Govt spend is north of $4t a year now. I think like 4.2 -- so just the Feds would spend 42t. The other states; let's add 8 Trillion over a decade so 50t. He's already off by a 67% in his numbers.

And he's saying he's going to tax (because he has to tax to get more money) 17.5t. So, every year, he'll tax enough to gain 1.75t in revenue. That's like a 50% increase over our recent tax receipts which are lower 3.x trillion a year.

Or in an economy with a GDP of over 20 trillion a year, he's going to tax an additional 8% of that.

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Please help me understand how these numbers aren't as infeasible as they look?

Responses:

That's just one of his policies. Add them up and he would triple the size of the federal government. -- nm - spamlet Mar 4, 09:21
Liz did a much better job explaining it (and I'm not sure Bernie has read that or he would adopt it). But he envisions raising everyone's taxes, but - pmb Mar 4, 09:16 2
- I agree. You have to prove that your first something has done the job before you should be able to step out further. - Will Hunting Mar 4, 09:19 1
  - And Obamacare is still really popular. The most important thing was that it got past. Then people could experience the improvement and the system - pmb Mar 4, 09:20
Well, for starters, he would probably only tax the highest brackets & add a wealth tax. But then it falls down & cant reach the needed numbers. - Beryllium Mar 4, 09:09

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That link to Bernie's "How do we pay for it?" is amazing!

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