...assuming he doesn't pass a single tax increase, which, with a Republican congress...
- A recent analysis of Sanders’ tax proposals by the joint Tax Policy Center of the Urban Institute and Brookings Institution, concluded that Sanders plan would raise $15.3 trillion over the coming decade. The Vermont senator who is campaigning largely on the issues of income inequality and the corruption and excesses of Wall Street, would spread the pain of higher taxes across the board, but with the wealthiest 0.1 percent of Americans being hit with an average increase of more than $3 million in 2017.
Is it going to be 15.3 trillion or between the huge gap of 2 trillion and 15 trillion. Question? Does any of that account for growth in revenue? Isn't fixing the roads, giving healthcare, etc. giving people jobs and stuff?A recent analysis of Sanders’ tax proposals by the joint Tax Policy Center of the Urban Institute and Brookings Institution, concluded that Sanders plan would raise $15.3 trillion over the coming decade.
Bottom line: the plan would add between $2 trillion and $15 trillion to an already unsustainable $19.2 trillion national debt.
So the confusion is the article is sort of comparing miles per gallon to distance traveled. That averages 1.53 trillion in new revenue per year. [Who are these 0.1% wealthiest americans? How much do they make? }(http://www.politifact.com/virginia/statements/2015/sep/21/bernie-s/bernie-sanders-says-top-01-us-have-almost-much-wea/) |The Tax Policy Center in Washington estimates that 42 percent of all capital gains and dividends reported to the IRS for 2014 came from the top 0.1 percent. Put another way: Of roughly $722 billion in total capital gains and dividends reported, about $305 billion were filed by the top echelon of earners. So that's 160,000 taxpayers that pay out $305 billion dollars in taxes, or 160,000 families that paid out about 2 million dollars each in taxes. These are guys with net assets of 20 million. You up their taxes by 3 million each and the poor bastards only have seventeen million dollars (on average) but you've managed to raise half a trillion dollars a year right there. And all you did was double the marginal tax rate on the filthy fucking rich. The rest of your question runs into the problem of economics being a social science rather than a branch of mathematics. I'll bet I could find five different answers that use the same numbers and come to different conclusions, but it would likely make me sick to my stomach. Accounting isn't economics.A recent analysis of Sanders’ tax proposals by the joint Tax Policy Center of the Urban Institute and Brookings Institution, concluded that Sanders plan would raise $15.3 trillion over the coming decade.
The Vermont senator who is campaigning largely on the issues of income inequality and the corruption and excesses of Wall Street, would spread the pain of higher taxes across the board, but with the wealthiest 0.1 percent of Americans being hit with an average increase of more than $3 million in 2017.
The top 0.1 percent included 160,000 families with net assets of at least $20 million.