Monday, July 6, 2015

Bernie Sanders Says He'd Raise Taxes

On Sunday, in an interview with CNN's Jake Tapper on "State of the Union," Bernie Sanders said America's wealthiest individuals and large corporations would face tax hikes if he's elected president.

He said the United States needs rules that would "dampen down the speculation on Wall Street," and that he'd like to break up Wall Street's biggest financial institutions.

And, he said, he'd "substantially" raise taxes.

"Yes, we have to raise individual tax rates substantially higher than they are today because almost all of the new income is going to the top 1%," Sanders said.

"And yes, those folks and large corporations will have to pay under a Sanders administration more in taxes so that we can use that revenue to rebuild our crumbling infrastructure, create the jobs we need, make sure that every kid who has the ability is able to get a college education in America because public colleges and public universities will be tuition-free," he said.

Sanders didn't stop there. Asked about the type of people who would make up his cabinet, Sanders ticked off the names of three lefty interventionist economists: Paul Krugman, Joseph Stiglitz and  Robert Reich.

Let's hope Bernie doesn't gain much more momentum. He is unlikely to become president, but it is dangerous for him to be showing significant support. The man has no understanding of how the economy works. He makes no distinction between crony capitalists and those who gain wealth by providing products and services demanded in the market. And he actually believes that he can central plan the economy to a large degree.

In his mind. he thinks the Soviet Union and Communist China collapsed only because he wasn't in charge.

His populist/communist spiel is very dangerous, a chunk of the masses will buy into it.



  1. I have no qualm with your description of Sanders. However, the idealogues who make it to the White House immediately sell out their base.

    "Right Wing" presidents like Reagan, Bush, and Bush the 2nd run one way, and then as soon as they get into office its off to the Left. "Left wing" Presidents, Clinton and Obama ran left, and then as soon in office go right. Thus very little radical change occurs, only marginal movement one way or the other.

    I think if Sanders were elected, he would turn right around and morph into a Wall Street inspired Neo Con willing to bail out the financial sector if another banking crash occurred like in 08 or willing to declare war on the rest of the world if it suits his pentagon puppet masters.

    A smitten New York Times would call this metamorphosis "leadership."

  2. Of course he is dangerous. No pain, no gain. By this I mean a majority of Americans apparently need to feel the full misery of a fascist regime before they will move in the direction of free markets.

    1. This requires americans first understand what free markets are and how they avoid the problems of managed economies from fascism to communism. This is the huge weak spot in the make it bad enough line of thinking. Even if people revolt they will just recreate what they revolted against because it's what they were taught as children.

      Freedom and liberty will return when the schools are no longer controlled by the state. Until then we can't expect much.

  3. While I remain cynical, Mr. Marino's assessment is probably more accurate. No matter who is elected, America will continue on a long frustrating slog of increasing fascism. So best to simply not vote.

  4. Broken record. The top .01% will be unaffected, while the middle class and upper middle class will get hosed. Sanders shows his true colors: crony.

  5. His favorite "economist" is MMTer Stephanie Kelton. We're doomed.

  6. Shows you the sharp decline America has taken when a degenerate sophist like this can run on a platform of open socialism and the hoards eagerly come out to cheer their demagogue hero.