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.



Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
Top DHS lawyer turns tables on 128 ex-judges after Bar declines ‘Worst of the Worst’ complaint
Lindsay Clancy jury enters Day 7 after bombshell one-juror standoff and more top headlines

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  Kalshi bans George Santos for life over State of the Union price manipulations

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.


Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
Top DHS lawyer turns tables on 128 ex-judges after Bar declines ‘Worst of the Worst’ complaint
Lindsay Clancy jury enters Day 7 after bombshell one-juror standoff and more top headlines

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  Former president-turned-amateur artist George W. Bush debuting new paintings for 9/11 remembrance



Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
Top DHS lawyer turns tables on 128 ex-judges after Bar declines ‘Worst of the Worst’ complaint
Lindsay Clancy jury enters Day 7 after bombshell one-juror standoff and more top headlines

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  Grand Canyon flash flood leaves 1 dead and several missing or unaccounted for, park service says

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.


Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
Top DHS lawyer turns tables on 128 ex-judges after Bar declines ‘Worst of the Worst’ complaint
Lindsay Clancy jury enters Day 7 after bombshell one-juror standoff and more top headlines

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