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Biden says he'll raise all the money needed by taxing anyone making over $400,000 a year.

healthmyths

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Here's a list of $6 trillion in Joe Biden spending proposals
Climate plan: $1.7 trillion
In this watered-down version of the Green New Deal, Biden aims to get to net-zero carbon emissions by 2050 through a series of regulatory steps and new spending.

Infrastructure plan: $1.3 trillion
Joe Biden has proposed a massive package, including repairing existing infrastructure, investing in green energy, electric car subsidies, and high-speed rail. Much of it recycles ideas from Obama’s economic stimulus package.

Healthcare plan: $750 billion
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.

Preschool and K-12 plan: $750 billion*
The plan would triple Title I funding for public schools, increase teachers' salaries, and provide universal pre-K.
*This is based on an estimate by the Committee for a Responsible Federal Budget, which found the education proposal would cost $850 billion. But $100 billion of that included investments in public school buildings already included in the infrastructure plan.

Post high school education plan: $750 billion
This would provide free two-year community college or training, increase student aid, and provide targeted loan forgiveness.

Housing plan: $640 billion
This plan would involve providing housing assistance to subsidize buying or renting homes and provide funding to build more affordable housing.

Combating opioid epidemic: $125 billion

So how much additional revenue will be generated by taxing anyone making over $400,000 a year.

Thankfully, even though individuals in this bracket are few and far between, the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

So this means about $60 billion a year !

Does it add up???
 
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healthmyths

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Healthcare plan: $750 billion
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.

So here is what will happen if Biden as part of his $6 Trillion expenditures is to "erode private insurance"...
There are 907 private health insurance companies that cover 49% of all Americans.
These companies employ over 500,000 people that average $40,000 a year in salaries.
These companies pay over $100 BILLION a year in Federal/state and local taxes to communities where they have offices.
COSTS for eliminating 907 private insurance companies:
500,000 people and employers pay on average 12.4% of salaries in payroll taxes or: $2.48 Billion a year in LOST Federal payroll taxes.
500,000 people on unemployment for 26 weeks at $400/week or $5.2 billion PAID OUT to these people... was that cost figured?
Now these 907 companies pay $100 billion a year in federal/state/local/property taxes... GONE.

So if the above over $100 billion in tax revenue is eliminated and $5.2 billion going out for unemployment... where will the $6 Trillion Biden will spend come from?
 

Oldestyle

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Raise the minimum wage until the Poor pay their fair capital share of the tax burden!

There should be no upper limit to markets.
What? That might be the most clueless post of the day! People that make minimum wage don't pay Federal taxes, Daniel! So you think you can raise their wages to the point where they do and that will fix the deficit problem? You don't really know much about economics...do you?
 

Nostra

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Every election cycle the Dimwingers trot this bullshit math out............and their single digit IQ base eats it up.

Nothing ever adds up with them, but they play the same bullshit every election.
 

Moonglow

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Now Repubs are concerned about government spending? Under Trump the debt has increased how much in three years?

5.23 trillion..That was July's figure.
 
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CowboyTed

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There will be no problem since he can promise that GDP growth will be 5% a year...


So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.
.
 
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healthmyths

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There will be no problem since he can promise that GDP growth will be 5% a year...


So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.
.


You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.
 
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healthmyths

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Now Repubs are concerned about government spending? Under Trump the debt has increased how much in three years?

5.23 trillion..That was July's figure.
YOU are a liar! YOU made that number up! Where are your LINKS because YOU are definitely not mathematically capable.
 

Flash

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The sonofabitch is lying.

How do we know he is lying (besides being a Democrat)?

He was part of the Obama administration that claimed they would not raise taxes for anybody making less than $250K a year and that was a lie.

The Obama/Biden administration enacted dozens of taxes that affected Americans making less than $250K. Hell, even that filthy Obamacare was determined to be a tax by the Supreme Court.

Biden is dishonest as hell and we all know that.

All the Obama taxes got us was increased poverty, decreased family income, tremendous debt and dismal economic growth.
 

Dragonlady

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Healthcare plan: $750 billion
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.

So here is what will happen if Biden as part of his $6 Trillion expenditures is to "erode private insurance"...
There are 907 private health insurance companies that cover 49% of all Americans.
These companies employ over 500,000 people that average $40,000 a year in salaries.
These companies pay over $100 BILLION a year in Federal/state and local taxes to communities where they have offices.
COSTS for eliminating 907 private insurance companies:
500,000 people and employers pay on average 12.4% of salaries in payroll taxes or: $2.48 Billion a year in LOST Federal payroll taxes.
500,000 people on unemployment for 26 weeks at $400/week or $5.2 billion PAID OUT to these people... was that cost figured?
Now these 907 companies pay $100 billion a year in federal/state/local/property taxes... GONE.

So if the above over $100 billion in tax revenue is eliminated and $5.2 billion going out for unemployment... where will the $6 Trillion Biden will spend come from?

Countries with government funded health care spend half what the US spends and they have better outcomes, and a healthier population.

More than 30% of ever dollar Americans spend on healthcare goes to “administration and billing”. In single payer countries that figure is closer to 5%. Just the savings in premiums payable to private insurance being reduced to eliminate the profit factor would save Americans so much aggravation and money.
 

progressive hunter

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Healthcare plan: $750 billion
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.

So here is what will happen if Biden as part of his $6 Trillion expenditures is to "erode private insurance"...
There are 907 private health insurance companies that cover 49% of all Americans.
These companies employ over 500,000 people that average $40,000 a year in salaries.
These companies pay over $100 BILLION a year in Federal/state and local taxes to communities where they have offices.
COSTS for eliminating 907 private insurance companies:
500,000 people and employers pay on average 12.4% of salaries in payroll taxes or: $2.48 Billion a year in LOST Federal payroll taxes.
500,000 people on unemployment for 26 weeks at $400/week or $5.2 billion PAID OUT to these people... was that cost figured?
Now these 907 companies pay $100 billion a year in federal/state/local/property taxes... GONE.

So if the above over $100 billion in tax revenue is eliminated and $5.2 billion going out for unemployment... where will the $6 Trillion Biden will spend come from?

Countries with government funded health care spend half what the US spends and they have better outcomes, and a healthier population.

More than 30% of ever dollar Americans spend on healthcare goes to “administration and billing”. In single payer countries that figure is closer to 5%. Just the savings in premiums payable to private insurance being reduced to eliminate the profit factor would save Americans so much aggravation and money.
you just admitted the government involvement is our problem,,,

admin and billing costs are due to gov regs,,,
 

Nostra

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Healthcare plan: $750 billion
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.

So here is what will happen if Biden as part of his $6 Trillion expenditures is to "erode private insurance"...
There are 907 private health insurance companies that cover 49% of all Americans.
These companies employ over 500,000 people that average $40,000 a year in salaries.
These companies pay over $100 BILLION a year in Federal/state and local taxes to communities where they have offices.
COSTS for eliminating 907 private insurance companies:
500,000 people and employers pay on average 12.4% of salaries in payroll taxes or: $2.48 Billion a year in LOST Federal payroll taxes.
500,000 people on unemployment for 26 weeks at $400/week or $5.2 billion PAID OUT to these people... was that cost figured?
Now these 907 companies pay $100 billion a year in federal/state/local/property taxes... GONE.

So if the above over $100 billion in tax revenue is eliminated and $5.2 billion going out for unemployment... where will the $6 Trillion Biden will spend come from?

Countries with government funded health care spend half what the US spends and they have better outcomes, and a healthier population.

More than 30% of ever dollar Americans spend on healthcare goes to “administration and billing”. In single payer countries that figure is closer to 5%. Just the savings in premiums payable to private insurance being reduced to eliminate the profit factor would save Americans so much aggravation and money.
If govt run healthcare is so good, why do all those countries have a Kung Flu death rate 2-3X what the US has....including your shithole country?
 

22lcidw

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Now Repubs are concerned about government spending? Under Trump the debt has increased how much in three years?

5.23 trillion..That was July's figure.
I hope the budget is balanced also. We will never see that unless forced on us. At this point as long as we are the top dog we will get away with it. Hopefully.
 

danielpalos

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Raise the minimum wage until the Poor pay their fair capital share of the tax burden!

There should be no upper limit to markets.
What? That might be the most clueless post of the day! People that make minimum wage don't pay Federal taxes, Daniel! So you think you can raise their wages to the point where they do and that will fix the deficit problem? You don't really know much about economics...do you?
Why don't you learn simple English and then respond? They would be paying taxes if you raise the wage enough. Nobody takes right wingers seriously about economics, the law, morals, or politics. Right Wing fantasy is all they seem to know and understand.
 

danielpalos

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Healthcare plan: $750 billion
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.

So here is what will happen if Biden as part of his $6 Trillion expenditures is to "erode private insurance"...
There are 907 private health insurance companies that cover 49% of all Americans.
These companies employ over 500,000 people that average $40,000 a year in salaries.
These companies pay over $100 BILLION a year in Federal/state and local taxes to communities where they have offices.
COSTS for eliminating 907 private insurance companies:
500,000 people and employers pay on average 12.4% of salaries in payroll taxes or: $2.48 Billion a year in LOST Federal payroll taxes.
500,000 people on unemployment for 26 weeks at $400/week or $5.2 billion PAID OUT to these people... was that cost figured?
Now these 907 companies pay $100 billion a year in federal/state/local/property taxes... GONE.

So if the above over $100 billion in tax revenue is eliminated and $5.2 billion going out for unemployment... where will the $6 Trillion Biden will spend come from?

Countries with government funded health care spend half what the US spends and they have better outcomes, and a healthier population.

More than 30% of ever dollar Americans spend on healthcare goes to “administration and billing”. In single payer countries that figure is closer to 5%. Just the savings in premiums payable to private insurance being reduced to eliminate the profit factor would save Americans so much aggravation and money.
you just admitted the government involvement is our problem,,,

admin and billing costs are due to gov regs,,,
So, why do Government single payers systems cost less?
 

danielpalos

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There will be no problem since he can promise that GDP growth will be 5% a year...


So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.
.


You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.
The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.
 

ImAlwaysRight

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If Biden should win in November and implements the lefts socialist policies, everyone with a job will see an exponential increase in taxes. Just look at the tax rates for European socialist countries. Socialism is a hungry political beast and it will keep growing and growing.
 

Nostra

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There will be no problem since he can promise that GDP growth will be 5% a year...


So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.
.


You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.
The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.
You are economically illiterate.

Enjoy your $25 Big Macs.
 
OP
H

healthmyths

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There will be no problem since he can promise that GDP growth will be 5% a year...


So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.
.


You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.
The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.
Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
fastfoodratios.png
 

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