Featured Finance News Opinons Politics

2020 Democratic Policies Would Send Taxpayers a $68 Trillion+ Bill

On Thursday, top Democratic candidates officially took the stage, prepared to fight for the Presidential Democratic nomination. The front-runner, former Vice President Joe Biden sparred with candidates Sen. Bernie Sanders, Businessman Andrew Yang, Mayor Pete Buttigieg, Sen. Kamala Harris, and others.

Sen. Sanders Announces Tax Increases On All Americans

Moderators asked a direct question to Sen. Bernie Sanders, “Will you increase taxes on the middle class.” Sanders attempted to dodge the question but ultimately admitted that his tax plan to adopt “Medicare For All” will result in a middle-class tax increase. (Not much has changed.)

Independent auditors such as the Committee for a Responsible Federal Budget have examined Sen. Sanders’ “Medicare For All” plan and estimated that it would cost a whopping $28 trillion and would be funded until 2026.



Trump-Meloni spat grows over claim Italian PM ‘begged’ for photo: ‘astonished’
SEE IT: Dem senator downplays security threat of illegal immigration after White House terror plot
Gilgo Beach serial killer’s ex-wife says he ‘got what he deserved’ after he gets max sentence for 8 murders
Breaking: US Brokers Lebanon Ceasefire After Escalation Derails Peace Talks with Iran
UK’s Prime Minister Directed 13,000 Suspected Pedophiles Get Warning Letters Instead of Prosecution, According to Rape Gang Report
Republican congressman will end months-long absence from DC after missing 135 roll call votes
WATCH: Tom Hanks Painful Insult to MSNOW Interviewer Goes Viral During Obama Presidential Center Opening
Trump’s 80th Birthday Goes Off Without a Hitch, as UFC Bring Manliness, Spirit of Teddy Roosevelt Back to WH Lawn
Disgraced Murdaugh trial clerk who helped blow up murder conviction claims protection from payback lawsuit
Dem justices slap Soros-backed Philly DA with power strip in stunning decision: ‘Not reliable’
PHOTOS: Best moments from Obama’s presidential center opening
Will Dems’ targeting of California GOP-turned-Indie congressman ‘Pan’ out?
UN’s Albanese faces uphill battle with First Amendment case seeking to end sanctions against her
Interest rate cut not likely on the table, even after Iran deal and somewhat falling oil prices
US military kills three ‘narco-terrorists’ in latest lethal strike on vessel in the Eastern Pacific

Biden, Buttigieg, Sanders Promise Free Community College

Buttigieg was first asked why he does not support fulling funding a college education for students and said that he supports free community college. Biden also agreed that community colleges should be free. The question that was not asked is how much it would cost.

See also  Trump arrives for UFC fight

The American Enterprise Institute ran numbers and determined that it would cost $60 Billion dollars to start the free community college program. However, AEI has also stated that the total cost cannot be determined and is expected to be higher.


Trump-Meloni spat grows over claim Italian PM ‘begged’ for photo: ‘astonished’
SEE IT: Dem senator downplays security threat of illegal immigration after White House terror plot
Gilgo Beach serial killer’s ex-wife says he ‘got what he deserved’ after he gets max sentence for 8 murders
Breaking: US Brokers Lebanon Ceasefire After Escalation Derails Peace Talks with Iran
UK’s Prime Minister Directed 13,000 Suspected Pedophiles Get Warning Letters Instead of Prosecution, According to Rape Gang Report
Republican congressman will end months-long absence from DC after missing 135 roll call votes
WATCH: Tom Hanks Painful Insult to MSNOW Interviewer Goes Viral During Obama Presidential Center Opening
Trump’s 80th Birthday Goes Off Without a Hitch, as UFC Bring Manliness, Spirit of Teddy Roosevelt Back to WH Lawn
Disgraced Murdaugh trial clerk who helped blow up murder conviction claims protection from payback lawsuit
Dem justices slap Soros-backed Philly DA with power strip in stunning decision: ‘Not reliable’
PHOTOS: Best moments from Obama’s presidential center opening
Will Dems’ targeting of California GOP-turned-Indie congressman ‘Pan’ out?
UN’s Albanese faces uphill battle with First Amendment case seeking to end sanctions against her
Interest rate cut not likely on the table, even after Iran deal and somewhat falling oil prices
US military kills three ‘narco-terrorists’ in latest lethal strike on vessel in the Eastern Pacific

The free college program was adopted in New York by Gov. Andrew Cuomo. Since its start, nearly 70% of all students who applied for the program were rejected. A total of 95,000 students applied for the scholarship and between 22,000 and 23,000 ended receiving it.

Sen Sanders recently introduced a bill called, “College for All Act.” The plan is estimated to cost taxpayers $75 billion-per-year. The plan does not mention whether it covers other costs such as books, but rather only examines tuition and required fees for students. The cost of textbooks has risen approximately 812% since 1989, according to the American Enterprise Institute.

See also  PHOTOS: Best moments from Obama’s presidential center opening



Trump-Meloni spat grows over claim Italian PM ‘begged’ for photo: ‘astonished’
SEE IT: Dem senator downplays security threat of illegal immigration after White House terror plot
Gilgo Beach serial killer’s ex-wife says he ‘got what he deserved’ after he gets max sentence for 8 murders
Breaking: US Brokers Lebanon Ceasefire After Escalation Derails Peace Talks with Iran
UK’s Prime Minister Directed 13,000 Suspected Pedophiles Get Warning Letters Instead of Prosecution, According to Rape Gang Report
Republican congressman will end months-long absence from DC after missing 135 roll call votes
WATCH: Tom Hanks Painful Insult to MSNOW Interviewer Goes Viral During Obama Presidential Center Opening
Trump’s 80th Birthday Goes Off Without a Hitch, as UFC Bring Manliness, Spirit of Teddy Roosevelt Back to WH Lawn
Disgraced Murdaugh trial clerk who helped blow up murder conviction claims protection from payback lawsuit
Dem justices slap Soros-backed Philly DA with power strip in stunning decision: ‘Not reliable’
PHOTOS: Best moments from Obama’s presidential center opening
Will Dems’ targeting of California GOP-turned-Indie congressman ‘Pan’ out?
UN’s Albanese faces uphill battle with First Amendment case seeking to end sanctions against her
Interest rate cut not likely on the table, even after Iran deal and somewhat falling oil prices
US military kills three ‘narco-terrorists’ in latest lethal strike on vessel in the Eastern Pacific

Andrew Yang Endorsed $1,000-per-person Universal Basic Income.

Andrew Yang, a former tech executive, outright endorsed a universal basic income of $1,000 per adult in the United States. However, when moderators asked how much it would cost and how his administration would pay for it, Yang struggled to answer the question and briefly froze. The Center on Budget and Policy Priorities estimates that a universal basic income plan would cost taxpayers $30 to $40 trillion dollars over ten years. Those numbers are most likely to be adjusted based on inflation and a rising cost of living.

If a President were elected who believes a basic universal income, the problem would be whether Congress would pass a bill and write it into law. As of right now, the House of Representatives is controlled by Democrats and the U.S. Senate is controlled by the Republicans. Whether Speaker Pelosi would adopt such a policy is not yet known. However, the likelihood that Leader McConnell would adopt such a policy is slim to none.

See also  Illegal immigrants among 15 charged in $1.4 million Massachusetts benefits fraud crackdown

The Total Cost

Currently, taxpayers pay the federal government a total of $3.4 Trillion dollars and have a rising debt of $22.4 Trillion dollars as of this publication.

The total cost of the proposed programs is over $68 Trillion dollars, meaning the current revenue is not enough to cover them. Candidates have not stated whether they would have to borrow money or raise taxes. Either way, taxpayers will have to pay more.


Trump-Meloni spat grows over claim Italian PM ‘begged’ for photo: ‘astonished’
SEE IT: Dem senator downplays security threat of illegal immigration after White House terror plot
Gilgo Beach serial killer’s ex-wife says he ‘got what he deserved’ after he gets max sentence for 8 murders
Breaking: US Brokers Lebanon Ceasefire After Escalation Derails Peace Talks with Iran
UK’s Prime Minister Directed 13,000 Suspected Pedophiles Get Warning Letters Instead of Prosecution, According to Rape Gang Report
Republican congressman will end months-long absence from DC after missing 135 roll call votes
WATCH: Tom Hanks Painful Insult to MSNOW Interviewer Goes Viral During Obama Presidential Center Opening
Trump’s 80th Birthday Goes Off Without a Hitch, as UFC Bring Manliness, Spirit of Teddy Roosevelt Back to WH Lawn
Disgraced Murdaugh trial clerk who helped blow up murder conviction claims protection from payback lawsuit
Dem justices slap Soros-backed Philly DA with power strip in stunning decision: ‘Not reliable’
PHOTOS: Best moments from Obama’s presidential center opening
Will Dems’ targeting of California GOP-turned-Indie congressman ‘Pan’ out?
UN’s Albanese faces uphill battle with First Amendment case seeking to end sanctions against her
Interest rate cut not likely on the table, even after Iran deal and somewhat falling oil prices
US military kills three ‘narco-terrorists’ in latest lethal strike on vessel in the Eastern Pacific

The problem, how much will this truly cost and how will this affect the American people?

Story cited here.

Share this article:
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter