Finfinder wrote:There is no complaint in my post. Is your complaint I just don't take the Democrats word for it. I am simply asking for the math, it should be so easy to offer. Then again I have no idea how you can make the statement above the people did not want Obamacre the few that did screamed the loudest.
I actually did some reading on her plan which she released. The numbers seems to add up. Basically if you will continue with your current system then it will cost 52 trillion for 10 years anyways while her plan is 59 trillion in actuality. She plans to do changes to the system to drop down the cost of it to 52 trillion for 10 years. Some of the measures are understandable but some is kinda hard to understand. For example some changes to affordable care act payment structures which i have no clue about.
On the other hand she also proposes the following in the form of taxes:
- Warren proposes a financial transactions tax of 0.1 percent of the value of every stock, bond, or derivatives transaction. That raises $800 billion. Then she adds a “systemic risk fee” on financial institutions with more than $50 billion in assets. That’s another $100 billion. ( Redistribution from capital to workers basically.)
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Warren adds another $2.9 trillion in corporate taxes by ending accelerated cost recovery and imposing a 35 percent minimum tax on foreign earnings.(This is essentially Banons plan to prevent outsourcing but masquarading as a measure to fund healthcare. This proposal is actually a VERY big deal. Basically will discourage outsourcing of American jobs overseas by American companies. Its not perfect but consider Banons and the like ideas or variations were killed on the spot by big business this might be one of the ways to pass it.)- Prior to this plan, Warren’s wealth tax was 2 percent on assets over $50 million and 3 percent on assets over $1 billion. Sorry billionaires — now it’s 6 percent, which raises another $1 trillion. Warren also proposes taxing capital gains for the top 1 percent at the same rate as normal income, and doing so on an annual basis, rather than just when the sale is made. That raises $2 trillion. (Tax hike for the top 1%. Again redistribution from Capital to labour)
- Warren proposes a massive increase in IRS enforcement aimed at reducing the tax avoidance rate from 15 percent to 10 percent. If successful, this could raise $2.3 trillion. (JR note here, this is probably unrealistic because it requires additional legislature besides healthcare changes. Most of the "Tax avoidance" is tax optimisation which is legal. Its shady but legal. Theoretically doable but practically i am sceptical. As I said 1000 times before, this is a must measure but how successful it will be is hard to tell. I do not know if 2.3Trillion is cautious estimate or wishful thinking.)
- In literally two sentences, Warren proposes passing comprehensive immigration reform, which would lead to $400 billion in new taxable income over 10 years. I guess, technically, this would be a middle-class tax increase but not in the way anyone means. (Not sure what this is about. Making all current illegals legal i suppose? Not a good idea unless this also involves increasing border security in more forms. Basically this needs to be elaborated to be understood )
- She also gets rid of the Overseas Contingency Operations Fund, which is basically a temporary increase in defense spending that’s become permanent. You can read more about OCO funds here, but the bottom line is it saves $800 billion. ( Less military spending which will go for healthcare )
- Americans currently spend $3.7 trillion paying their share of employer-provided health insurance premiums. That money, left in their wallets, becomes taxable, adding $1.4 trillion. ( Basically some calculations for the middle class. 2.3 Trillion in middle class pocket while 1.4 will eventually land as taxes anyways. So besides healthcare, the American middle class and lower will get 2.3T/300kk = 7.6k additional dollars after all taxes. )
- By FiveofSwords
- By Pants-of-dog
- By Negotiator
- By Deutschmania