Saturday, February 6, 2016

Bernie, There’s no such thing as a free lunch. How sanders will destroy America

There’s no such thing as a free lunch. How sanders will destroy America

1.       Can’t get the money from “millionaires and billionaires”.
a.       They are already paying a HUGE portion of the taxes The top 1% pay 22.7% of taxes. The top 10% pay 50% of taxes. The top 20% pay 65.3% of taxes. The top 40% pay 84.3% of taxes.
b.      There isn’t enough money from them to pay for all the free stuff Bernie suggests, even if you taxed at 90%
c.       Congress would never go for it because they know it is dangerous
2.       The Bernie plan will ruin the economy for all
a.       Taxes matter. People leave states because taxes are high. The reason companies have gone overseas is because we have the highest tax rates in the world for corporations. Bernie raising taxes creates a DISINCENTIVE for people and companies to work. There is a point at which people say “why bother” when they work more and more for the government. Democrat JFK understood lower taxes produce more growth. Raegan proved it.

3.       Bernie plan is dangerous. Socialism=government controls the means of production and distribution of income. Countries that do that cannot field their own people and the 3 major countries that tried it killed at least 50 million people each last century: China under mao, Russia under Stalin, Germany under Hitler. Bernie says he is a Democratic socialist but he actually is an old communist. Honeymooned in the Soviet Union.
4.       Cannot point to Europe as a good example.

. . . The reviews of some of these economists, especially on Mr. Sanders’s health care plans, suggest that Mrs. Clinton could have been too conservative in their debate last week when she said his agenda in total would increase the size of the federal government by 40 percent. That level would surpass any government expansion since the buildup in World War II.
The increase could exceed 50 percent, some experts suggest, based on an analysis by a respected health economist that Mr. Sanders’s single-payer health plan could cost twice what the senator, who represents Vermont, asserts, and on critics’ belief that his economic assumptions are overly optimistic.
And then there’s Jonathan Chait, in NY Magazine:
The centerpiece of Sanders’s domestic agenda is a plan for single-payer health insurance. Sanders claims his plan would immediately produce trillions of dollars in savings through lower health-care costs — not merely bending the cost curve down, as Obamacare has done, but snapping it sharply in the other direction. Kenneth Thorpe, a respected liberal health economist at Emory University, has estimated that Sanders’s plan is “completely implausible.” The Sanders campaign has called Thorpe’s estimates a “complete hatchet job” and, as Sanders’s supporters are wont to do, implied that he is bought and paid for by his corporate masters.
But the trillions of dollars in unspecified savings are not the only magic asterisk in Sanders’s plan. The Committee for a Responsible Federal Budgetruns the numbers and finds that, even if you accept Sanders’s assumptions about his savings at face value, his plan would still fall several trillion dollars short of covering its expenses. The analysis also notes that Sanders would have to raise the top marginal tax rate to about 85 percent, which is above the level that economists Peter Diamond and Emmanuel Saez (who strongly support higher taxes on the rich) believe maximizes revenue. That is to say, Sanders would tax the rich at rates so high that even liberal economists suspect they would discourage work and raise less revenue than expected.

5.       Minimum wage: WSJournal 2-5-16 “The evidence continues to roll in: Broad increases in the minimum wage destroy jobs and HURT the working class Americans they are supposed to help.…Jobs, salaries and benefits INCREASE when businesses thrive. If you want to give the working class a path to the middle class, adopt policies that free up businesses.
6.       Under Obama, record poor economic growth, huge expansion of government meddling in business (regulations,)  more businesses fail than start, record # Americans gave up looking for jobs, most new jobs low paying or part time, 50% college kids cannot find full time work, Bernie will make it even worse!

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