Bernie Sanders has admitted that he would raise taxes to pay for the many programs he has proposed -- but he (and his supporters) tell us that those taxes would only be raised on the rich, who are paying a historically low rate in income taxes. Unfortunately, that is not true.
We now have evidence that his tax proposals would raise taxes on the top 80% of the population. The only group that would escape a tax raise is the lowest 20% -- 70% of which are already living in poverty, and the rest living from paycheck to paycheck (and in danger of dropping into poverty). The second, third, and fourth quintiles (the working, middle, and upper-middle classes) would all see their taxes raised under Bernie's plan.
The second quintile (working class) would see their taxes raised by an average of 3.9%. The third quintile (middle class) would see their taxes raised by 6.9%. The fourth quintile (upper-middle class) would see their taxes raised by 8.0%.
This is just wrong! These people, especially the second and third quintiles, are the ones who have yet to recover from the trickle-down policies of the Republicans. Their wages have been stagnant, and they watch inflation erode more of their buying power each year. They simply cannot afford a tax raise of any kind!
I agree with Bernie (and Hillary) that the rich (and the corporations) need to pay a little more in taxes -- but the working and middle classes should not have to pay anymore.
...which is why I'm voting for Hillary!
ReplyDeleteNot "wrong" at all when you consider that the increased taxes are intended to finance a national health care program that would, by generating reductions in the costs of health insurance and care that would more than offset the taxes, create a net benefit to the working and middle classes.
ReplyDeleteIf you want to argue the numbers, go right ahead; that is a legitimate argument. But by counting the projected costs while ignoring the projected benefits you have done only half the calculation, creating a distorted impression. And that *is* "just wrong."
(Footnote: "He'll never get his health care plan through Congress" is not an answer, as that eventuality would also significantly change the tax calculations.)