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.



EXCLUSIVE: ICE says El Paso detention facility will stay open under new contractor after $1.2B deal scrapped
WATCH: NYC terror suspect allegedly seen purchasing fireworks fuse days before attack
Michigan man found guilty of killing wife whose body was discovered in fertilizer tank
Sen. Hyde-Smith set for November clash with Dem foe she once vanquished
9th Circuit upholds first grader’s free speech rights in ‘black lives matter’ drawing case
Special election replacing Marjorie Taylor Greene goes to runoff between Trump-endorsed candidate and Democrat
Trump Says Family Bible from His Mother Has a Powerful Revival Connection
Speaker Johnson touts Trump’s agenda as crucial blueprint ahead of midterms: ‘On the ballot’
Brett Kavanaugh Fires Back as Ketanji Brown Jackson Gets Hostile While Two Share Stage at Event
After Daughter Is Allegedly Killed by Illegal, Mom Opens Victim’s Bible and Finds Incredible Surprise Note
DOJ blasts ‘partisan’ DC Bar complaint against senior Trump official
Trump Appoints Erika Kirk to Board Position Previously Held by Charlie
Fox News Poll: Voters expect AI to transform our lives — but today is not that day
Leftist Still Doesn’t Learn His Lesson After His Pro-Diversity Speech Is Interrupted by ISIS Terrorist’s Bomb
Watch: Karoline Leavitt Shoots Down Democrats’ ‘Big Myth’ About the SAVE America Act

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  Judge rejects Fani Willis bid to intervene in Trump $17 million reimbursement 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.


EXCLUSIVE: ICE says El Paso detention facility will stay open under new contractor after $1.2B deal scrapped
WATCH: NYC terror suspect allegedly seen purchasing fireworks fuse days before attack
Michigan man found guilty of killing wife whose body was discovered in fertilizer tank
Sen. Hyde-Smith set for November clash with Dem foe she once vanquished
9th Circuit upholds first grader’s free speech rights in ‘black lives matter’ drawing case
Special election replacing Marjorie Taylor Greene goes to runoff between Trump-endorsed candidate and Democrat
Trump Says Family Bible from His Mother Has a Powerful Revival Connection
Speaker Johnson touts Trump’s agenda as crucial blueprint ahead of midterms: ‘On the ballot’
Brett Kavanaugh Fires Back as Ketanji Brown Jackson Gets Hostile While Two Share Stage at Event
After Daughter Is Allegedly Killed by Illegal, Mom Opens Victim’s Bible and Finds Incredible Surprise Note
DOJ blasts ‘partisan’ DC Bar complaint against senior Trump official
Trump Appoints Erika Kirk to Board Position Previously Held by Charlie
Fox News Poll: Voters expect AI to transform our lives — but today is not that day
Leftist Still Doesn’t Learn His Lesson After His Pro-Diversity Speech Is Interrupted by ISIS Terrorist’s Bomb
Watch: Karoline Leavitt Shoots Down Democrats’ ‘Big Myth’ About the SAVE America Act

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  Judge to allow sex offender to question witnesses in Virginia locker room case



EXCLUSIVE: ICE says El Paso detention facility will stay open under new contractor after $1.2B deal scrapped
WATCH: NYC terror suspect allegedly seen purchasing fireworks fuse days before attack
Michigan man found guilty of killing wife whose body was discovered in fertilizer tank
Sen. Hyde-Smith set for November clash with Dem foe she once vanquished
9th Circuit upholds first grader’s free speech rights in ‘black lives matter’ drawing case
Special election replacing Marjorie Taylor Greene goes to runoff between Trump-endorsed candidate and Democrat
Trump Says Family Bible from His Mother Has a Powerful Revival Connection
Speaker Johnson touts Trump’s agenda as crucial blueprint ahead of midterms: ‘On the ballot’
Brett Kavanaugh Fires Back as Ketanji Brown Jackson Gets Hostile While Two Share Stage at Event
After Daughter Is Allegedly Killed by Illegal, Mom Opens Victim’s Bible and Finds Incredible Surprise Note
DOJ blasts ‘partisan’ DC Bar complaint against senior Trump official
Trump Appoints Erika Kirk to Board Position Previously Held by Charlie
Fox News Poll: Voters expect AI to transform our lives — but today is not that day
Leftist Still Doesn’t Learn His Lesson After His Pro-Diversity Speech Is Interrupted by ISIS Terrorist’s Bomb
Watch: Karoline Leavitt Shoots Down Democrats’ ‘Big Myth’ About the SAVE America Act

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  Judge to allow sex offender to question witnesses in Virginia locker room case

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.


EXCLUSIVE: ICE says El Paso detention facility will stay open under new contractor after $1.2B deal scrapped
WATCH: NYC terror suspect allegedly seen purchasing fireworks fuse days before attack
Michigan man found guilty of killing wife whose body was discovered in fertilizer tank
Sen. Hyde-Smith set for November clash with Dem foe she once vanquished
9th Circuit upholds first grader’s free speech rights in ‘black lives matter’ drawing case
Special election replacing Marjorie Taylor Greene goes to runoff between Trump-endorsed candidate and Democrat
Trump Says Family Bible from His Mother Has a Powerful Revival Connection
Speaker Johnson touts Trump’s agenda as crucial blueprint ahead of midterms: ‘On the ballot’
Brett Kavanaugh Fires Back as Ketanji Brown Jackson Gets Hostile While Two Share Stage at Event
After Daughter Is Allegedly Killed by Illegal, Mom Opens Victim’s Bible and Finds Incredible Surprise Note
DOJ blasts ‘partisan’ DC Bar complaint against senior Trump official
Trump Appoints Erika Kirk to Board Position Previously Held by Charlie
Fox News Poll: Voters expect AI to transform our lives — but today is not that day
Leftist Still Doesn’t Learn His Lesson After His Pro-Diversity Speech Is Interrupted by ISIS Terrorist’s Bomb
Watch: Karoline Leavitt Shoots Down Democrats’ ‘Big Myth’ About the SAVE America Act

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