2016 Postmortem
Related: About this forumThe corporate media conglomerates in an effort to protect the less than 1% are now
waging war against Bernie's tax plans as if they were in a vacuum, without addressing the massive savings and income increases to the American People whether it be regarding the issues of universal health care, without the high co-pays and deductibles, much lower prices on prescription drugs, tuition free public universities, $15 minimum wage, rebuilding the middle class, reducing the poverty rate, 1 trillion dollars put in to our nation's decrepit infrastructure, expanded social security benefits etc. etc. etc.
The vast majority of Bernie's tax increases will fall on the the wealthiest people but the corporate media conglomerates citing only the Tax Policy Center which takes nothing into account other than taxes, would rather the average American not know this, so they hype tax increases with no context or counter prevailing savings to the the people.
Kip Humphrey
(4,753 posts)3 in-the-tank-for-Hillary economists their professional reputations for promoting them. Enough is enough.
Uncle Joe
(58,361 posts)Bernie Sanders' Health Care Tax Plan Would Raise $13 Trillion, Yet Increase After-Tax Incomes for All Income Groups except the Very Highest
A new analysis by Citizens for Tax Justice of presidential candidate Bernie Sanders' recently released Medicare for All tax plan finds that Sanders' health-related taxes would raise an estimated $13 trillion over 10 years. The analysis also finds that the plan would raise average after-tax incomes for all but the top income groups.
The reason that Sanders plan increases average after-tax incomes for all but the highest-income groups, even as it substantially increases tax revenues, is that the plan would replace employer-provided healthcare with universal health insurance for all Americans. Thus, workers would get comprehensive health insurance in addition to higher wages. (This is far different from proposals to simply make some or all of currently tax-exempt employer-provided insurance subject to income and payroll taxes, which would be a very bad deal for workers.)
Wages would go up, under the assumption that employers will maintain the total amount per worker that they now pay in cash wages, health benefits, and employer payroll taxes. Thus, ITEPs estimate of the net increase in cash wages reflects both decreased employer costs from eliminating employer-related health insurance and increased employer costs from higher employer payroll taxes (both from Sanders proposed new 6.2 percent employer tax and changes in existing payroll taxes due to wage increases). As a result, on average just over half of the employer savings from eliminating health insurance costs would be reflected in higher wages.
As the table on page one illustrates, people in the bottom 20 percent income group would see their pre-tax income go up by an average of $1,932. Their personal taxes (income and payroll) would go up by an average of only $450, meaning that they would see an average increase in after-tax income of $1,482. Similarly, the middle 20 percent of Americans would see their after-tax income increase by an average of $3,240.
In addition to his new 6.2 percent employer payroll tax, Sanders health-related tax proposals include several highly progressive tax changes. Most notably, it would end the preferential low tax rates on capital gains and dividends, on incomes over $250,000 and apply higher marginal income tax rates on top earners. Because of these progressive tax increases, ITEPs analysis found that the top one percent would see their average after-tax income go down by $159,980 under Sanders plan.
http://ctj.org/ctjreports/2016/02/bernie_sanders_health_care_tax_plan_would_raise_13_trillion_yet_increase_after-tax_incomes_for_all_i.php#.Vtpo1n0rL4Y
And even this only takes into account savings and after tax income increases from Bernie's health care plans, tuition free public universities, $15 minimum wage, stronger social security benefits and a trillion dollar investment in our nation's infrastructure along with Bernie's other proposals should also be taken in to account.