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.



Inside the ‘digital lockdown’ for US officials as Trump arrives in China
Move to oust Nancy Guthrie sheriff fails as Pima County supervisors refer perjury allegations to AG
Marco Rubio spotted in Nike tracksuit aboard Air Force One during trip to China, igniting memes online
Rubio wears Nike tracksuit aboard Air Force One in parody of Maduro capture
High school student with history of anger issues charged with murder of homeless woman in Las Vegas
Nebraska’s Pillen wins Republican renomination in bid for second term as governor
Lawsuit: ChatGPT Told Florida State Shooter that Killing Children Would Get Him ‘More Attention’ Than Targeting Adults
House GOP launches new task force, probes alleged Medicaid fraud in Ohio
Republican Ricketts wins GOP primary in Nebraska, advances to key Senate showdown
Poll: Rubio Opens Up Double-Digit Lead on Vance, AOC Leads 2028 Democratic Field
Big city Democrat mayor arrested at ICE protest faces voters in re-election bid
BREAKING: All Tenn. Dem Reps Have Been Removed from Every House Committee Possible as Punishment for Redistricting Chaos
Fake Black Woman Rachel Dolezal Resurfaces After Decade, Has Entered Digital Version of World’s Oldest Profession
Trump expected to name ICE veteran with private detention ties as agency’s acting director
Gay Couple Who Acquired 5 Boys Arrested on Child Sex Charges

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  GOP heartburn forces messaging pivot from ‘ballroom’ for Trump security money

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.


Inside the ‘digital lockdown’ for US officials as Trump arrives in China
Move to oust Nancy Guthrie sheriff fails as Pima County supervisors refer perjury allegations to AG
Marco Rubio spotted in Nike tracksuit aboard Air Force One during trip to China, igniting memes online
Rubio wears Nike tracksuit aboard Air Force One in parody of Maduro capture
High school student with history of anger issues charged with murder of homeless woman in Las Vegas
Nebraska’s Pillen wins Republican renomination in bid for second term as governor
Lawsuit: ChatGPT Told Florida State Shooter that Killing Children Would Get Him ‘More Attention’ Than Targeting Adults
House GOP launches new task force, probes alleged Medicaid fraud in Ohio
Republican Ricketts wins GOP primary in Nebraska, advances to key Senate showdown
Poll: Rubio Opens Up Double-Digit Lead on Vance, AOC Leads 2028 Democratic Field
Big city Democrat mayor arrested at ICE protest faces voters in re-election bid
BREAKING: All Tenn. Dem Reps Have Been Removed from Every House Committee Possible as Punishment for Redistricting Chaos
Fake Black Woman Rachel Dolezal Resurfaces After Decade, Has Entered Digital Version of World’s Oldest Profession
Trump expected to name ICE veteran with private detention ties as agency’s acting director
Gay Couple Who Acquired 5 Boys Arrested on Child Sex Charges

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  Trump motorcade drives across Lincoln Memorial Reflecting Pool to inspect renovation efforts



Inside the ‘digital lockdown’ for US officials as Trump arrives in China
Move to oust Nancy Guthrie sheriff fails as Pima County supervisors refer perjury allegations to AG
Marco Rubio spotted in Nike tracksuit aboard Air Force One during trip to China, igniting memes online
Rubio wears Nike tracksuit aboard Air Force One in parody of Maduro capture
High school student with history of anger issues charged with murder of homeless woman in Las Vegas
Nebraska’s Pillen wins Republican renomination in bid for second term as governor
Lawsuit: ChatGPT Told Florida State Shooter that Killing Children Would Get Him ‘More Attention’ Than Targeting Adults
House GOP launches new task force, probes alleged Medicaid fraud in Ohio
Republican Ricketts wins GOP primary in Nebraska, advances to key Senate showdown
Poll: Rubio Opens Up Double-Digit Lead on Vance, AOC Leads 2028 Democratic Field
Big city Democrat mayor arrested at ICE protest faces voters in re-election bid
BREAKING: All Tenn. Dem Reps Have Been Removed from Every House Committee Possible as Punishment for Redistricting Chaos
Fake Black Woman Rachel Dolezal Resurfaces After Decade, Has Entered Digital Version of World’s Oldest Profession
Trump expected to name ICE veteran with private detention ties as agency’s acting director
Gay Couple Who Acquired 5 Boys Arrested on Child Sex Charges

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  Russia ends ceasefire, launching ‘200 attack drones’ at Ukraine

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.


Inside the ‘digital lockdown’ for US officials as Trump arrives in China
Move to oust Nancy Guthrie sheriff fails as Pima County supervisors refer perjury allegations to AG
Marco Rubio spotted in Nike tracksuit aboard Air Force One during trip to China, igniting memes online
Rubio wears Nike tracksuit aboard Air Force One in parody of Maduro capture
High school student with history of anger issues charged with murder of homeless woman in Las Vegas
Nebraska’s Pillen wins Republican renomination in bid for second term as governor
Lawsuit: ChatGPT Told Florida State Shooter that Killing Children Would Get Him ‘More Attention’ Than Targeting Adults
House GOP launches new task force, probes alleged Medicaid fraud in Ohio
Republican Ricketts wins GOP primary in Nebraska, advances to key Senate showdown
Poll: Rubio Opens Up Double-Digit Lead on Vance, AOC Leads 2028 Democratic Field
Big city Democrat mayor arrested at ICE protest faces voters in re-election bid
BREAKING: All Tenn. Dem Reps Have Been Removed from Every House Committee Possible as Punishment for Redistricting Chaos
Fake Black Woman Rachel Dolezal Resurfaces After Decade, Has Entered Digital Version of World’s Oldest Profession
Trump expected to name ICE veteran with private detention ties as agency’s acting director
Gay Couple Who Acquired 5 Boys Arrested on Child Sex Charges

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