2020 Presidential election

[JazzyFresh]

Food for thought when people think taxing the rich will somehow accumulate trillions

Notably, the Forbes 400 Richest Americans list is published annually since 1982. The combined net worth of the 2019 class of the 400 richest Americans was $2.9 trillion, up from $2.7 trillion in 2017.[1] As of October 2019, the U.S. had 621 billionaires that is a record high.[1]

 

[silesian]

Next time you are at Arlington national cemetery, surrounded by thousands of people who gave their lives for our freedom, please include the trumps in your prayers for their financial sacrifices.

Reality and don junior’s book far surpass The Onion.

 

[Zombie]

Food for thought when people think taxing the rich will somehow accumulate trillions

Notably, the Forbes 400 Richest Americans list is published annually since 1982. The combined net worth of the 2019 class of the 400 richest Americans was $2.9 trillion, up from $2.7 trillion in 2017.[1] As of October 2019, the U.S. had 621 billionaires that is a record high.[1]

Warren's wealth tax is estimated to raise about a trillion dollars over ten years, considering the top one percent holds more wealth than the entire middle class ($26T to $18T), I think they'll survive.

 

[Zombie]

Next time you are at Arlington national cemetery, surrounded by thousands of people who gave their lives for our freedom, please include the trumps in your prayers for their financial sacrifices.

Reality and don junior’s book far surpass The Onion.


View attachment 8457

Jesus christ. Imagine thinking your suffering of being a multimillionaire with the levels of control over the government compares to dying for your country. Then imagine putting that in a book for everyone to read.

It's staggering that anyone takes these clowns seriously.

 

[JazzyFresh]

Warren's wealth tax is estimated to raise about a trillion dollars over ten years, considering the top one percent holds more wealth than the entire middle class ($26T to $18T), I think they'll survive.

I'm not arguing that I'm still trying to figure out how this is getting paid for. Taxing them alone is less than 1/52 of the bill.

 

[Zombie]

I'm not arguing that I'm still trying to figure out how this is getting paid for. Taxing them alone is less than 1/52 of the bill.

I don't know why this is so difficult for you to understand, but we'll do this again. Currently the US spends about 3.5 trillion dollars on Healthcare per year. This is pretty evenly split between the US government and private spending. This includes insurance premiums paid both by employees and employers, as well as out of pocket costs to meet deductibles and pay for pharmaceuticals. This is money we are already spending. I repeat WE ARE ALREADY SPENDING THIS MONEY. And that number is only going to increase relative to GDP under our current plan. M4A's price tag is not being added to this spending, it's replacing it with the added bonus of curbing its growth. Warren's plan replaces employer paid deductibles with a payroll tax, and raises additional revenue from a variety of tax increases on the wealthy and on certain financial transactions. Her proposal also shifts state expenditures on Healthcare to the federal government. There are a few other cost saving features of her plan including things like pressure on pharmaceutical companies to lower prices, reducing provider pay to Medicare levels as well as reducing administrative costs.

Here's a link, since apparently you haven't been bothered to look up these readily available facts in spite of your incessant complaining about their apparent non-existence.

https://www.washingtonpost.com/politics/2019/11/05/warrens-plan-pay-medicare-for-all-does-it-add-up/

 

[JazzyFresh]

I don't know why this is so difficult for you to understand, but we'll do this again. Currently the US spends about 3.5 trillion dollars on Healthcare per year. This is pretty evenly split between the US government and private spending. This includes insurance premiums paid both by employees and employers, as well as out of pocket costs to meet deductibles and pay for pharmaceuticals. This is money we are already spending. I repeat WE ARE ALREADY SPENDING THIS MONEY. And that number is only going to increase relative to GDP under our current plan. M4A's price tag is not being added to this spending, it's replacing it with the added bonus of curbing its growth. Warren's plan replaces employer paid deductibles with a payroll tax, and raises additional revenue from a variety of tax increases on the wealthy and on certain financial transactions. Her proposal also shifts state expenditures on Healthcare to the federal government. There are a few other cost saving features of her plan including things like pressure on pharmaceutical companies to lower prices, reducing provider pay to Medicare levels as well as reducing administrative costs.

Here's a link, since apparently you haven't been bothered to look up these readily available facts in spite of your incessant complaining about their apparent non-existence.

https://www.washingtonpost.com/politics/2019/11/05/warrens-plan-pay-medicare-for-all-does-it-add-up/

Can't open that link but here. Do you understand what additional means? So we're not "already spending that money" were adding 20.5 trillion dollars to the 30.5 million we would be already be spending. Adding. So you do realize if NYT is right with the 20.5 trillion additional over 10 years we are adding 57%(quick math I may be missing something) more spending than what we already are? Or by doing my own simple math by the 3.5 trillion we are spending and the 5.2 trillion Warren is spending do you realize that 3.5 triillion compared to 5.2 trillion is a 1.7 trillion dollar addition to 3.5? 1.7 trillion dollars divided by 3.5 trillion tells me we are adding at minimum 48% more PER YEAR to our budget. Lol at people who think money grows on trees. Especially trillions.

According to my article below NYT which is pretty liberal some experts even say the up to 34 trillion more over a decade.

The Medicare for all proposal released by Senator Elizabeth Warren of Massachusetts last week would cost the federal government an additional $20.5 trillion over a decade,

https://www.google.com/amp/s/www.ny...politics/medicare-for-all-fact-check.amp.html

I don't buy it. Basing trillions on random numbers is ridiculous. Lying about not taxing the Middle class while also saying she's going to tax stocks and bonds is disingenuous. I have to stick with Biden here and say she's talking to the fairys in a tale here.

 

[JazzyFresh]

Keep in mind she also wants to eliminate student loan debt 1.5 trillion and have tuition free college which estates 1.5 trillion over 10 years.

How will she pay for that? Pretty close to how she claims healthcare would be paid for. So let's add a minimal 3 trillion to this extra spending.

 

[Zombie]

Can't open that link but here. Do you understand what additional means? So we're not "already spending that money" were adding 20.5 trillion dollars to the 30.5 million we would be already be spending. Adding. So you do realize if NYT is right with the 20.5 trillion additional over 10 years we are adding 57%(quick math I may be missing something) more spending than what we already are? Or by doing my own simple math by the 3.5 trillion we are spending and the 5.2 trillion Warren is spending do you realize that 3.5 triillion compared to 5.2 trillion is a 1.7 trillion dollar addition to 3.5? 1.7 trillion dollars divided by 3.5 trillion tells me we are adding at minimum 48% more PER YEAR to our budget. Lol at people who think money grows on trees. Especially trillions.

According to my article below NYT which is pretty liberal some experts even say the up to 34 trillion more over a decade.

The Medicare for all proposal released by Senator Elizabeth Warren of Massachusetts last week would cost the federal government an additional $20.5 trillion over a decade,

https://www.google.com/amp/s/www.ny...politics/medicare-for-all-fact-check.amp.html

I don't buy it. Basing trillions on random numbers is ridiculous. Lying about not taxing the Middle class while also saying she's going to tax stocks and bonds is disingenuous. I have to stick with Biden here and say she's talking to the fairys in a tale here.

Oh for ****s sake. Dude read my post again. When I say "we" I don't mean the federal government, I mean the United States as a whole, including government and nongovernment spending. I recognize that the federal government will spend more on Healthcare, obviously.

Using Warren's numbers the amount the federal government will have to pay in addition to current spending is 20 trillion dollars over the next decade. That will be paid for with 8.8 trillion dollars via payroll tax (this will replace premiums employers currently pay) + 3 trillion dollars via wealth tax and capital gains tax + 3 trillion dollars via repealing Trump's tax cuts for corporations + 2 trillion via better tax enforcement- lowering the amount of dodged taxes from 15% to 10% + 1.4 trillion via additional revenue from previously untaxed take home pay - employee contributions to insurance are taken out pretax, without that pretax expense there will be a slight uptick in taxable income + 1 trillion apiece via taxes on financial firms and cuts to the defense budget.

 

[Red]

Can't open that link but here

Same article:

https://www.seattletimes.com/nation-world/warrens-plan-to-pay-for-medicare-for-all-does-it-add-up/

 

[Deleted member 365]

View attachment 8458

Oh for ****s sake. Dude read my post again. When I say "we" I don't mean the federal government, I mean the United States as a whole, including government and nongovernment spending. I recognize that the federal government will spend more on Healthcare, obviously.

Using Warren's numbers the amount the federal government will have to pay in addition to current spending is 20 trillion dollars over the next decade. That will be paid for with 8.8 trillion dollars via payroll tax (this will replace premiums employers currently pay) + 3 trillion dollars via wealth tax and capital gains tax + 3 trillion dollars via repealing Trump's tax cuts for corporations + 2 trillion via better tax enforcement- lowering the amount of dodged taxes from 15% to 10% + 1.4 trillion via additional revenue from previously untaxed take home pay - employee contributions to insurance are taken out pretax, without that pretax expense there will be a slight uptick in taxable income + 1 trillion apiece via taxes on financial firms and cuts to the defense budget.

This graph might be helpful. When people claim we can’t afford Medicare for all, they clearly don’t know what the hell they’re talking about. Canada has m4a and they spend a fraction that we do. M4A actually cuts health care spending overall because you’re streamlining the system. No longer are health care providers needing to employ armies of accountants and underwriters to figure out multiple health insurances. All providers do is report the costs to one insurance plan, Medicare.

Facts can be inconvenient for people who merely parrot republican disinformation and don’t understand health care systems. Take it from me, it was one of my top choices when thinking about going for a masters in public health admin. M4A works!

 

[JazzyFresh]

We spend 3.2 trillion a year right now. 10 years that 32 trillion, lets add 20 trillion(completely bogus amount) in inflation and make in 52 trillion. Warrens plan will pay that 32 trillion plus 24-34 trillion more in 10 years according to her own admission. Right now that is 52 trillion. So how the flying fudge is that paying less? How in world is adding 20 whatever trillion on top of the 32 trillion paying less? You... can't... make... this... stuff... up... lol

Canada also has 296,000,000 less people.

Canadians also reported the longest wait times for specialists, with 56 per cent waiting longer than four weeks to see a specialist, compared with the international average of 36 per cent.



Why is that you may ask?

Not enough doctors. Why not just buy more?

VANCOUVER — You’d think the average Canadian family spends more on household expenses such as housing, food and clothing combined, but it’s actually taxes, finds a new study by the Fraser Institute.

The think-tank’s Canadian Consumer Tax Index, which tracks the total tax bill of the average Canadian family from 1961 to 2015, reveals the average family (including singles) earned $80,593 and paid $34,154 in total taxes last year, compared to $30,293 on housing (rent and own), food and clothing combined.

That’s 42.4% of income going to taxes and 37.6% going to basic necessities.

https://www.plant.ca/economy/161193-161193/

Basic economics.