Sanders reveals 'major plans' funded by new taxes, massive lawsuits, military cuts

[dukkha]

Bernie Sanders unexpectedly released a fact-sheet Monday night explaining that he'd pay for his sweeping new government programs through new taxes and massive lawsuits against the fossil fuel industry, as well as by slashing spending on the military, among other methods.

The move sought to head off complaints from Republicans and some rival Democrats that his plans were economically unrealistic, especially after a head-turning CBS News interview in which the frustrated Vermont senator said he couldn't "rattle off to you every nickle and every dime" about his proposed expenditures.

He released his plan on his website just minutes after promising to do so during a CNN town hall.

However, the fact-sheet highlighted for the first time that many of Sanders' expected cost-saving measures relied on conjecture and best-case scenarios. For example, Sanders' document asserts that a "modest tax on Wall Street speculation ... will raise an estimated $2.4 trillion over ten years" and, in one fell swoop, make all "public colleges, universities and trade schools tuition-free ... and cancel all student debt over the next decade."

The proposal specifically would place a "0.5 percent tax on stock trades – 50 cents on every $100 of stock – a 0.1 percent fee on bond trades, and a 0.005 percent fee on derivative trades."

The National Review has likened a tax on so-called "Wall Street speculation" to

a de facto tax on savings, saying the Sanders plan "would mean paying $25 to the federal government every time you traded $5,000 worth of stock — or five times what you’d pay the typical online brokerage in fees. ... Over the long term, that imposes serious costs on actively traded funds such as the ones containing many Americans’ retirement funds."

Meanwhile, housing for everyone would cost $2.5 trillion over ten years, and would be paid entirely by a "wealth tax on the top one-tenth of one percent," raising a total of $4.35 trillion, according to Sanders' fact-sheet. Similarly, "universal childcare and pre-school to every family in America" would be provided with a wealth tax on the "top 0.1 percent," again raising more than $4 trillion.

Sanders' plan did not discuss the possible stock market ramificiations of a major seizure of some of this wealth, much of which is held in markets and other investments. The plan also did not discuss how the government would be able to reliably obtain the money, given that many investments could simply be liquidated or transferred elsewhere before his administration took office.


Instead, Sanders' proposal said only that it would eventually establish a "national wealth registry and significant additional third party reporting requirements," buff up IRS funding and, and "include enhancements to the international tax enforcement."
The plan would require the IRS "to perform an audit of 30 percent of wealth tax returns for those in the 1 percent bracket and a 100 percent audit rate for all billionaires," and would include a "40 percent exit tax on the net value of all assets under $1 billion and 60 percent over $1 billion for all wealthy individual seeking to expatriate to avoid the tax

[dukkha]

A new "income inequality tax on large corporations that pay CEOs at least 50 times more than average workers" would take care of $81 billion in past-due medical debt, Sanders further claimed.

Sanders' projections also stated without providing details that his Green New Deal plan would create "20 million new jobs," thus ensuring $2.3 trillion in "new income tax revenue

Sanders claimed to be able to raise "$3.085 trillion by making the fossil fuel industry pay for their pollution, through litigation, fees, and taxes, and eliminating federal fossil fuel subsidies." He has repeatedly suggested on the campaign trail that he would direct the Justice Department to pursue the fossil fuel industry, although it was unclear how successful that legal strategy would be.

On health care, Sanders has previously vowed to provide benefits, including health care, even to illegal immigrants. It's unclear how many people that unprecedented proposal would cover, especially given that such a plan would likely lead to a rise in immigration to the United States and that the number of illegal immigrants presently in the country is unknown.
https://www.foxnews.com/politics/ber...ll-explanation

[dukkha]

[Jack]

I think the Plan is to tax Wall Street transactions. Think 'High Frequency' traders.

[Bigdog]

I think the Plan is to tax Wall Street transactions. Think 'High Frequency' traders.

Bolshevik Bernie is always short on specifics. He even has you trying to fill in the blanks.

[cancel2 2022]

I think the Plan is to tax Wall Street transactions. Think 'High Frequency' traders.

Sounds very similar to the 'longest suicide note in history'.

https://www.theatlantic.com/internat...labour/603553/

[dukkha]

I think the Plan is to tax Wall Street transactions. Think 'High Frequency' traders.

he's gonna tax you silly. If it moves, it get taxed, He HAS TO -read the OP about "wealth taxes"and such.
He's going after any money he can to pay for his Utopian dreams

The National Review has likened a tax on so-called "Wall Street speculation" to

a de facto tax on savings, saying the Sanders plan "would mean paying $25 to the federal government every time you traded $5,000 worth of stock — or five times what you’d pay the typical online brokerage in fees. ... Over the long term, that imposes serious costs on actively traded funds such as the ones containing many Americans’ retirement funds."

[PostmodernProphet]

Sanders claimed to be able to raise "$3.085 trillion by making the fossil fuel industry pay for their pollution, through litigation, fees, and taxes, and eliminating federal fossil fuel subsidies." He has repeatedly suggested on the campaign trail that he would direct the Justice Department to pursue the fossil fuel industry, although it was unclear how successful that legal strategy would be.

I can see the sense in that......after all, what could go wrong with bankrupting the entire American oil industry......

[countryboy]

he's gonna tax you silly. If it moves, it get taxed, He HAS TO -read the OP about "wealth taxes"and such.
He's going after any money he can to pay for his Utopian dreams

The National Review has likened a tax on so-called "Wall Street speculation" to

Jackoff is a retard. Bernie's current proposals would require a 70%-90% income tax on EVERYONE earning $30,000 or more. Libs suck at math. Bernie is currently proposing almost a hundred trillion dollars in NEW SPENDING. At most, his tax proposals would raise 23 trillion. Like I said, libs suck at math.

[Eagle_Eye]

I think the Plan is to tax Wall Street transactions. Think 'High Frequency' traders.

Think everyone with an IRA, 401, or other retirement plans.

[RB 60]

I can see the sense in that......after all, what could go wrong with bankrupting the entire American oil industry......

Nah, they won't go bankrupt. Gas will go up to $8 a gallon and it will cost $1500 a month to heat your home. It will bankrupt the American family.

[jimmymccready]

foxnews.com?

really??

[PostmodernProphet]

foxnews.com?

really??

sure....because they're the only people in the world that listened to him say it on CNN or read it on https://berniesanders.com/issues/how...s-major-plans/

link to the CNN interview is on the Fox link in case you want to join them in listening too....

[archives]

A new "income inequality tax on large corporations that pay CEOs at least 50 times more than average workers" would take care of $81 billion in past-due medical debt, Sanders further claimed.

Sanders' projections also stated without providing details that his Green New Deal plan would create "20 million new jobs," thus ensuring $2.3 trillion in "new income tax revenue

Sanders claimed to be able to raise "$3.085 trillion by making the fossil fuel industry pay for their pollution, through litigation, fees, and taxes, and eliminating federal fossil fuel subsidies." He has repeatedly suggested on the campaign trail that he would direct the Justice Department to pursue the fossil fuel industry, although it was unclear how successful that legal strategy would be.

On health care, Sanders has previously vowed to provide benefits, including health care, even to illegal immigrants. It's unclear how many people that unprecedented proposal would cover, especially given that such a plan would likely lead to a rise in immigration to the United States and that the number of illegal immigrants presently in the country is unknown.
https://www.foxnews.com/politics/ber...ll-explanation

Nah, Mexico is paying for it

[Jack]

Think everyone with an IRA, 401, or other retirement plans.

Most people 'Buy and Hold', not 'Trade'. And I think he mentioned an 'Income Cap'.