We have nearly $20 trillion in debt and as we head for insolvency, Socialist Bernie has a healthcare plan that will all by itself make us into a Third World nation. That is according to a new study as reported by the Associated Press.
This man needs to retire. He’s aged out and makes no sense. His plan will cost 32 trillion dollars and his plans combined will add 18 trillion to the national debt.
The AP says it would damage the economy but it would do more than that. When one considers we borrow 40 cents on every dollar and would have to borrow double that, it’s likely we will go bankrupt and sink into impoverished status like all nations with the extreme socialism Bernie and even Hillary supports.
The study comes from a joint analysis released Monday by the nonpartisan Urban-Brookings Tax Policy Center and the Urban Institute Health Policy Center, well-known Washington think tanks.
Sanders would raise taxes by more than $15 trillion over 10 years, with most of that paid by upper-income earners, the AP reported. That’s where the Middle Class comes in, especially the Upper Middle Class to start. When they can’t create jobs because of the suffocating taxes, the taxes will hit the next rungs on the ladder.
From the AP:
But that wouldn’t be enough to cover the cost of his proposed government-run health care system, along with free undergraduate college, enhanced Social Security, family and medical leave, among other new programs. The cost of the health care plan alone is more than $30 trillion, according to the study.
Because the Sanders plan already maximizes tax increases on upper-income earners, any additional levies to pay for the shortfall would like fall on middle- and lower-income families, the study authors said. A leading possibility would be a new national sales tax, a revenue-raising scheme used by other economically advanced countries with more extensive social benefits.
“President Sanders would have to rely on much more broad-based taxes,” said economist Len Burman, director of the Tax Policy Center.
“The dramatic increase in government borrowing would crowd out private investment, raise interest rates, further increase government borrowing costs and retard economic growth,” the analysis concluded.
Bernie denies it and says they will get the money from less bureaucracy, simplified paperwork and lower prescription drug prices, though he has not shown how he would accomplish that and not destroy the pharmaceutical business. There is also the little problem of government being impossibly overblown.
Bernie wants to pay everyone’s – including people here illegally – insurance premiums, deductibles or copayments. Long-term care would be covered, as would most dental, vision and hearing care.
More people will use the services – many who don’t need to but will because it’s “free’, the government will decide prices and doctor’s fees, there will be fewer doctors, and we will all share in the misery.
Venezuela’s Maduro would be proud!