Bernie Sanders, the self-proclaimed socialist seeking the Democratic presidential nomination, is proposing an array of new programs that would amount to the largest peacetime expansion of government in modern American history, reports WSJ.
According to the newspaper, he backs at least $18 trillion in new spending over a decade.This would increase total federal spending by about one-third—to a projected $68 trillion or so over 10 years.
To pay for this, Sanders has so far detailed tax increases that could bring in as much as $6.5 trillion over 10 years, according to his staff, reports WSJ.
A campaign aide said additional tax proposals would be offered to offset the cost of some, and possibly all, of his health program.
-RW
The biggest lie of his is that he insists only taxing the wealthy will "pay" for everything. He has no foothold in reality. And does he not consider what happens after he leaves office? Countries that he wants us to mirror have much higher tax burdens on the average Joe. An increase of spending with his announced tax plan will cause inflation like we have not seen for decades.
ReplyDeleteThe minimum wage as it exists and especially as Sanders wants to raise it causes Youth unemployment to be much higher than would otherwise be.
ReplyDeleteHis solution? Spend gov't money, but blame the problem on the private sector for not hiring the youth.
Again...... what is the result? Higher inflation! Inflation reduces the value of the minimum wage, Bernie. Socialists think economies work like thermostats. As if one can just crank up the dial and raise the temperature. The problem is that the economy doesn't work like that. The min. wage, like turning up the thermostat, has costs.
This is madness. He cant be serious, can he?
ReplyDeleteJust look at that pic. He is very serious and crazy!
Deleteput it this way. In the at last election in Illinois the republican candidtate won and chased all the democrats in Springfeild back to Chicago where they found Rahm wasn't that keen on employing them sither so at the mayoral election all these democrats backed a nothing candidate against Rahm who after having to face a run off election then made a deal and then won easily.
DeleteThe proggies see their chance to push their own platform because Hil's ideology of corporate pay to play doesn't resonate with many democratic voters. Not that they expect to win....yet. but they expect a deal.
What's scary will be the number of morons (my apologies to the truly mentally disadvantaged) that will eat this crap up!
DeleteThis is not madness. This is realpolitik. Spending is a good way to win power. And Sanders wants much power.
DeleteMy favorite part is that he thinks that he can give everybody medicare for only $15 trillion. Maybe if that was the figure per year. I, for one, look forward to the rationed healthcare. I will spend all of my effort becoming friends with the bureaucrats to ensure that I get on the list of those to receive premium healthcare (to heck with the proles).
ReplyDeleteWe have to understand what health care has been and will be. Presently it's a way for a favored cartel to drain our wealth. What it will become as government gets control is a way to get rid of people who cost more their productivity.
DeleteI like how it costs $5.5 billion to employee 1 million people...but it doesn't cost millions of jobs to spend trillions!
ReplyDeleteWe've already seen government spending over 50% of GDP. What would this be in a recession, 80% of GDP?!? It appears that he really is a socialist.
Sanders himself makes the argument that Walmart employees shouldn't be receiving so much welfare if they were just paid more. The really sad part is that most of those things could be afforded by anyone, and then some, if they just didn't have half their pay check stolen, but then Sanders proposes to steal more.
I won't hold my breath for a socialist that proposes just not taxing poor people.
When there is welfare people will be able to bid their labor lower and come out ahead.
DeleteIt follows the same line as if the government was subsidizing my widgets at $1 each. I undercut my competitor by 30 cents. I am seventy cents richer per widget than I would be without the subsidy and I sell more widgets.
Low prices through government subsidy be it things or labor.
This is worse than I thought. He proposes 29 billion to prevent companies from cutting pensions. Correct me if Im wrong but wouldnt that mean he proposes raiding our incomes to pay for private pensions? So I, as a self employed businessman have to fork over money to pay for the private pensions of GE employees? Is there any sane place left on earth?
ReplyDeleteNo, I don't think so, but if you happen to stumble across a sane place, please let me know.
DeleteMarc, I missed that. Though, since the government is already spending $530 billion more than it takes in (over the last 11 months), then you wouldn't be forking over money for the GE pensions. All of the money will be borrowed from the next few generations. It's good to steal from the future. The trick is to just die of old age in the next few years, then you miss out on all the consequences.
DeleteThis idiot is a complete nutcase. He belongs in a straitjacket not in the Imperial Chair.
ReplyDeleteShouldn't this guy be in a mental institution? What a loon!
ReplyDelete"...rational economic calculation is impossible in a socialist system. Optimal economic coordination requires a free market in which prices transmit crucial information about the supply and demand of capital goods."
ReplyDeleteSocialism is a dangerous irrational political religion full of faithful political fanatics convinced utopia is a matter of legislation.
"Socialism is a dangerous irrational political religion full of faithful political fanatics convinced utopia is a matter of legislation."
DeleteIt's why I always call it a religious cult. Because that's exactly what it is. They live in a total fantasy world the morons.
Don't forget that Sanders helped install Stephanie Kelton, Queen of the MMTers, as "Chief Economist on the Senate Budget Committee". There's no need for taxes if the state can just spend money into existence. The purpose of taxes is merely to suck money away from the powerless to allegedly avoid CPI inflation.
ReplyDeleteI find these people to be about as scary as they come.
http://stephaniekelton.com/
Not something to fret over. The game is going to continue until it can't. Sanders brings the end on a little sooner, that's all.
ReplyDeleteYeah, but the ending can be very ugly. I, for one, don't want to fight with my neighbors over canned dog food to eat any sooner than I have to.
DeleteSanders is demonstrably evil and stupid. He is not trying to hide it or or obfuscate. All of his white bloodless "progressive" supporters are along for ride. I assume that average people should be able to catch on (with our help). If we can't beat these guys............
DeleteBernie's plan is actually very simple. Everyone stop working and go on a government-provided "living wage". Then just have the Fed print all the money we need. Why is that so hard to understand?
ReplyDeleteTHis is complete bull shit the article from WSJ is intentionally misleading and that $18 Trillion is over the course of 10 Years, and it does not take into account the ways he has a plan to pay for it all.
ReplyDeleteOh that's ok then. HE'S going to pay for it. Generous guy.
DeleteAcctually Sanders hasn't even announced how he intends to pay for it. Just unnamed tax plans that will be forthcoming.
DeleteNo matter how often socialism has failed, people still think it will work. A few people learn from history that most people do not learn from history.
ReplyDelete