The most common complaint I hear about Sanders is that he is going to tax you to death and give everyone free stuff.
1st of all, that's an oxymoron. If I pay more in taxes how are the things I get in return considered free.
Now to the specific complaint. The Sanders camp put out a press release outlining whose taxes he would raise and by how much.
The top marginal rate would increase from 39.6% to 52%. That seems like a substantial amount. No one pays the top marginal rate. After deductions and loopholes, your effective rate is much lower.
Example, on mitt Romney's 2011 tax form he payed 13% in federal tax even though he was in the top bracket.
DONT CONFUSE MARGINAL TAX RATES WITH EFFECTIVE TAX RATES.
He also wants a 0.5% tax on stock speculation.
In context this isn't near as dramatic as we are lead to believe.
Let's remember in the 3 decades after WW2 the top marginal rate was between 72%-90%. That's a HUGE tax rate and yet our economy experienced massive growth. So, empirically Bernie's tax rate would be much lower than the tax rate during our period of greatest economic growth.
His final tax would be to fund his Medicare for all plan. A 9% increase.
Now let's put that in context. I make $19 an hour and before Obama care went into effect I was paying $150 a week for private insurance with a $3000 deductible and $100 copays. Under Bernie's plan my taxes would increase by $70 a week, so do the math. $70 a week with no deductible or copay versus $150 a week plus copay and deductible.
Seems like Bernie's plan is cheaper than even PRE OBAMA insurance.
Now I know that no one likes discussing issues in context but there you go.
Slight increases in taxes for a substantial return.
College tuition, infrastructure, affordable healthcare. Yeah I will pay a little more for these things.
another winner ! this is a big thing. democrats change the names of things and espouse "don't worry, your govenment knows what you need, don't be concerned so much with the process. let's make the laws first, so we can run them by the people. bernie sanders glosses thing over, and his facts are wrong. i've known the man for decades, he glosses things over. i am stunned that benghazi came up in the debate.
if the media is bringing it up that's amazing and great, we will debate. obama has lied about or cooked just about every number in our economy. unemployment topping the list. it's a democrat house of cards about to collapse.
under Trump you leadership will get to keep your paycheck. you won't have to pay for shrimp on a treadmill, or give hillary's polster (mark penn) six million dollars of stimumus money. how that was legal, i'll never know. i call it stealing.
The famous shrimp treadmill study, conducted by researchers at Pacific University and College of Charleston, came under scrutiny during debates over the federal deficit and wasteful spending in 2011.
Yes, the shrimp treadmill research cost taxpayers more than $3 million over the course of a decade. That includes a a $559,681 grant for research into "Impaired Metabolism and Performance in Crustaceans Exposed to Bacteria."
socialism is wrong for vermont, it's wrong for America. if the democrat socialists lose, taxes will go down, business will go up again.