$16.2 trillion tax hikes to fund millionaire-socialist Bernie Sanders’ Medicare For All plan

Although he had never worked at a productive job in his life, Bernie Sanders, 77, the Demonrat senator of Vermont who fancies himself an “independent” but actually identifies as an outright socialist, is that curious oxymoronic creature — a millionaire socialist with three homes.

One of the three homes is a lakefront summer home in North Hero, Vermont, which Sanders purchased for $600,000 just five days after the 2016 Democratic National Convention, in which he sold out his idealistic millennial supporters by enthusiastically endorsing his rival, one-percenter Hillary Clinton who had used the Democratic National Committee to undermine his presidential campaign. The Democratic National Convention even called a SWAT team on Sanders’ delegates.

On February 19, 2019, Sanders joined the ever-growing list of Demonrat freaks and communists by declaring his candidacy for the 2020 presidential election, pledging to run a campaign focused on “transforming” the U.S. and “creating a government based on the principles of economic, social, racial and environmental justice” — blah, blah, blah. Shedding his political identity as an “Independent” as readily as a snake sheds its skin, Sanders will, once again, run as a Democrat, as he did in 2016.

3½ hours after announcing his candidacy, Sanders raised over $1 million from small donations. Within a week of his announcement, Sanders had raised $10 million from 359,914 donors, including some 12,000 registered Republicans.

Central to his campaign is a “Medicare for All” plan. What you may not know is that the plan is not just for all Americans or U.S. citizens, whether Medicare age (65 years) or not, Sanders means to extend Medicare to all residents in the United States, including the tens of millions who are here illegally. Even Obamacare doesn’t do that, but instead provides medical coverage to only U.S. citizens and “lawfully present” immigrants. Sanders’ Medicare for All, however, will not only prohibit the government from denying medical coverage because of “citizenship status”, it will cover even those who can’t meet the loose definition of resident — “Even if an individual is not covered under a broad definition of ‘residency’ by the secretary of HHS, the federal government can take steps ‘to ensure that every person in the United States has access to health care.'” (The Blaze)

Sanders’ insanely expansive and expensive Medicare for All will have to be funded — with what he calls tax hike “options”.

According to an estimate by Americans for Tax Reform, a nonprofit, 501(c)(4) taxpayer advocacy group founded in 1985 by Grover Norquist at the request of President Ronald Reagan, Sanders’ Medicare for All proposal will increase taxes by $16.2 trillion over ten years, which “would hit American families at every income level and businesses large and small.”

The dizzying list of proposed tax hikes will include:

  1. A new 4% employee payroll tax: Sanders would impose another 4% payroll tax on top of existing payroll taxes. This new 4% payroll tax will be “income-based premium paid by employees,” which will  increase taxes on American families and individuals by $3.9 trillion.
  2. A new 7% employer payroll tax: Sanders would impose another 7% payroll tax on employees which he calls an “income-based premium paid by employers”, estimated to be a $3.5 trillion tax increase over ten years.
  3. Eliminating health tax “expenditures”: Sanders’ Medicare for All proposal would ban employer-provided insurance and repeal the deduction for health care and the Health Savings Accounts utilized by about 25 million U.S. families, mainly the middle class. The deduction for cafeteria plans and the medical expense deduction is also eliminated. All of which will increase taxes on families and businesses by $4.2 trillion.
  4. 70% top tax bracket for ordinary income and capital gains income, which would make America the highest income tax rate in the world. According to the Tax Foundation, a top 70% rate for ordinary income and capital gains income above $10 million will raise $51.4 billion over a decade. After accounting for macroeconomic effects, the proposal would actually cost the government $63.5 billion because the proposal would suppress investment and economic growth.
  5. 77% death tax: Currently, the death tax applies to estates over $11 million and applies a 40% rate. Under Sanders’ proposal, the death tax would kick in at $3.5 million with a rate of 45%. He also proposes raising the death tax rate to 77% for inheritances. All of which will increase taxes by $2.2 trillion over ten years.
  6. Wealth tax: Sanders proposes an annual wealth tax of 1 percent kicking in above $21 million in assets. Sanders estimates the proposal will increase taxes by $1.3 trillion over ten years.
  7. Bank tax: Sanders proposes a tax on financial institutions totaling $800 billion over ten years.
  8. Broaden the self employment tax: Sanders would require business owners to report more of their business income as salary, increasing the amount of self-employment tax owed, which would increase taxes by $247 billion over ten years.

U.S. national debt is already over $22 TRILLION. Imagine what Medicare for All taxes would do to our national debt. It would kill this country.

See also:

~Eowyn

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Dr. EowynDCGFlandersFlandersYouKnowWho Recent comment authors
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DCG
Editor

I don’t think the grumpy old man has a good shot of winning the 2020 race so hopefully this plan is a pipe dream…

Lana
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Lana

“how does one bad employer- provided health plans?” Last time I looked Communists never worried about the legalities of anything they want to push through. After all they are dictators and their whim is the law they live by. Used to be we could laugh at morons, and freaks like Sanders, but since half the country is ill informed and brainwashed we are teetering on the edge. I don’t think he can make it this time but there is time in the near future when the boomers will be gone and the mindless hordes will elect a Bernie clone gladly.… Read more »

Lophatt
Member
Lophatt

Somebody queue the banjos. Here’s another “sexually enlightened” example of modern “tolerance”. Where is he when you need him? He’s getting hamburger for Shep.

https://sputniknews.com/us/201904151074152029-cop-sex-dog-k9/

William
Member
William

You’re absolutely right, they couldn’t care less about legalities or constitutionality, they care only about power. I cannot account for his popularity in VT; if you go there you feel like you’re in Alabama. Poor, overwhelmingly white, no large cities, lots of Christian patriots. And Sanders was originally elected as a socialist! He adopted the independent schtick after he became more prominent. Now it can be told – I voted for him in 2004 when I lived there. On a paper ballot no less. One of a long list of things in my life that seemed like a good idea… Read more »

William
Member
William

The Sanders plan is of course insane, ding-dong batsh*t crazy. The national debt is much higher than the 22 trillion that they acknowledge and is in fact unpayable. The only solution is to flip the monopoly board and start over but the cartel of private banks known as the Federal Reserve, which is neither federal nor does it have anything in reserve other than numbers, isn’t going to allow that. The last one to try, kinda, sorta, was JFK when he issued his “real money” silver certificates (I remember them) and that didn’t end well. If even a fraction of… Read more »

william chandler
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william chandler

That filthy lifelong Coward: This should apply to ALL who pose as liberals but live as Conservatives and then attack Conservatives for daring to defend themselves. Make them walk home with their groceries through the gang infested streets that their “liberalism” create We need the “Close RACIST LIBERAL HYPOCRITE BIGOT Bernie Sanders loopholes” Act…. if you demonstrate & DEMAND people integrate —- YOU have to live in a DIVERSE neighborhood !!!!!! MOVE Sanders into the Chicago Ghetto so he can spend his declining years mixing with those he SAYS he loves. Don’t you DARE demand I integrate while YOU RUN… Read more »

YouKnowWho
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YouKnowWho

sanders won’t make it through the campaign. He’s a doddering old fool and if he were to get the nod he’d be the real weekend at bernie;’s. They’ll have to drag him across the finish line.
That’s all the time I have to waste on this boob.

Flanders
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Flanders

Bernie was a leader in this international “youth movement”, Hashomer Hatzair. Don’t be fooled by the jew’s misleading public descriptions. They teach and organize their members into “socialistic” communist networking groups. Most Americans have never heard about it or the many other jew leftist groups, all of them with similar aims. They’ve been operating inside America for many years, I think I have some links showing it goes back to the 1920’s. They also operate in most other White countries and non-jews in those other counties are not even aware, either. The “soft” and stealth indoctrinations often originate from the… Read more »

Flanders
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Flanders

“Hashomer Hatzair and AJYAL Educating Syrian Refugees” “Hashomer Hatzair, its Arab division AJYAL and Natan-International Humanitarian Aid are fundraising to create an educational center for Syrian refugees on the island of Chios in Greece. Hashomer Hatzair and AJYAL counselors will operate the center and train local educators. So far they have raised about a quarter of the capital needed to get the project running. “Chios is the closest island to Turkey and about 4,000 refugees reside on it,” says Yair Liebel, the Hashomer Hatzair coordinator for the project.” http://www.progressiveisrael.org/hashomer-hatzair-and-ajyal-educating-syrian-refugees/ —–>> “One more important detail: Israeli electoral maps show clearly that… Read more »

Flanders
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Flanders

There are comments in moderation which will explain about this link.

“Hashomer Hatzair World Movement”

http://www.hashomer-hatzair.net/cgi-webaxy/item?enIndex

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