(RightWing.org) – Antique socialist Bernie Sanders has used a familiar old left-wing tactic to push his way to the front of the Democrat pack – he’s promised everyone a load of free stuff.
Former British Prime Minister Margaret Thatcher once said,
“The trouble with Socialism is that eventually you run out of other people’s money.”
With Bernie, it’s even worse. Anyone who can do some basic math can see that he wouldn’t even have the money to start carrying out his ambitious spending plans, and he’s faced a lot of criticism for that. Now he’s finally revealed how he plans to pay for it all – and it’s downright scary.
Senator Bernie Sanders (D-VT) has taken hits from Republicans – and even some Democrats – who say that the massive spending plans he wants to implement are economically unrealistic. Now Sanders has come out swinging with a plan he says will cover the cost.
- First, Bernie wants to demolish America’s financial industry with a “modest tax on Wall Street speculation.” Sanders says that it will raise an estimated $2.4 trillion over 10 years, which will be used to cancel all student debt and make all public colleges tuition-free.
- This proposal won’t go down well on Wall Street because it will devastate their business. Sanders wants a 0.5% tax on every stock trade, enough to eat most of the profit margin. Worse, he wants to do this just as London’s stock exchange – already the world’s largest – is breaking free of the EU and looking for new business. If the Sanders tax is imposed, a lot of trading will most likely move to London.
- Bernie wants to blow another $2.5 trillion on social housing. This will be paid for by a wealth tax on the top 0.1% of American earners, raising $4.35 trillion over a decade. Another tax on the same people will be used to provide universal childcare and preschool – until the wealthy move their money to London or the Bahamas to protect it.
- The elephant in the room is Sanders’ “Medicare for All” plan, where “All” includes illegal immigrants. Experts say this will cost a staggering $32 trillion in its first 10 years. Sanders doesn’t put a price tag on it, but he says he’ll pay for it by scaling back military spending – he seems to be looking at reducing our defenses by at least 20% – and another wave of new taxes targeting CEOs and energy companies. Any remaining bills would be paid by litigation against oil companies.
- On paper, Sanders’s math adds up – but, if implemented, this massive cash grab would destroy the US economy. Traders and investors would flee, taking their money with them and starving US businesses of investment capital. Fuel costs would rise, making everything in the country more expensive.
Simply put, America can’t afford Bernie Sanders.
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