Socialism is all the rage in the Democratic Party with the leftist loonies promising all kinds of free stuff if you would only vote for them. As it turns out, free stuff isn’t so free and somebody has to pay for it. That somebody is you and I and the Democratic Socialist proposals pushed by kooks like Bernie Sanders and Alexandria Ocasio-Cortez would cost an additional $42 trillion (with a T) over the next decade. The only way to realistic pay for this is to raises taxes to the point were almost every dollar we earn would go straight to the government.
Vox, the dumb liberal website that explains things to dumber liberals, actually stumbled upon this non-dumb thing: America might be ready for democratic socialism. It’s not ready for the bill.
Single-payer health care, a jobs guarantee, and free college would require massive tax hikes. There’s no way around it.
However, the democratic socialist agenda will face resistance not only from other lawmakers but from basic math. Their promises, which include free college, a single-payer health care system, guaranteed jobs, and more, would require astonishingly high expenditures that would cause the federal deficit to skyrocket. Once the costs become clear, most mainstream politicians and voters will surely balk. Making big promises is one thing; paying for them is another.
Vox added up the cost of all of these Democratic Socialist proposals (scams) and this is what they came up with:
Total cost: $42.5 trillion in new proposals over the next decade, on top of the $12.4 trillion baseline deficit.
The 30-year projected tab for these programs is even more staggering: new proposals costing $218 trillion, on top of an $84 trillion baseline deficit driven by Social Security, Medicare, and the resulting interest costs.
And these are not numbers from conservative sources designed to scare people away from the wonders of socialism:
These numbers are not partisan. They come from the Congressional Budget Office, top liberal think tanks, and the lawmakers themselves. They are the left’s own figures. (And note that we included an absurdly low-cost estimate for the jobs guarantee.)
Since the left sucks at math, money, and economics, it’s likely the actual cost for these “free” things is much much higher.
At least there is a way to pay for all of this, if you aren’t too attached to keeping the money you work hard to earn:
1. What about just taxing corporations and rich families? Raising the final $34 trillion would require seizing roughly 100 percent of all corporate profits as well as 100 percent of all family wage income and pass-through business income above the thresholds of $90,000 (single) or $150,000 (married), and absurdly assuming they all continue working. (This calculation refers to individual income, not investment income.)
2. How about a European-style value-added tax (VAT), which is basically a national sales tax? A rate of 87 percent would be needed to collect $34 trillion under the American tax base.
3. What about payroll taxes? Lawmakers would need to create a new 37 percent payroll tax, on top of the existing 15.3 percent payroll tax, in order to collect $34 trillion.
Gosh, they all seem so appealing. We can either tax the rich at 100%, have an 87% sales tax, or just hit everyone with a 52.3% income tax.
People may be getting “free” shitty healthcare and college for giving up half their paychecks, but what about paying for stuff like housing and food? Look no further than socialism success story Venezuela where people are encouraged to eat their pets.
Of course this bullshit is only related to the “free” stuff Democratic Socialists are proposing and there is still a ton of other stuff like defense, Social Security, and infrastructure that needs to be paid for. Anyone who thinks this garbage is a great idea is either an elected democrat or someone who doesn’t have a job.