Elizabeth Warren's wealth tax math doesn't add up, nonpartisan analysis says

So those that don't have it to begin with, for which we seek to help as a society, can't pay for it. Others who are not willing to help pay for it voluntarily, leaves those that need the help, without.

 

yup

 

There are four big problems with Warren's ideas.

(1) Only 8.8 percent of the American people are not covered by health insurance, and some of those are healthy young people who are choosing not to be insured. This is not a crisis of a magnitude that requires that we completely explode our present system.

(2) The financing doesn't add up, and yet this medical coverage would become an entitlement just like Social Security or Medicare. That means that any shortfall in revenue would have to be covered by deficit spending.

(3) These measures may not be passable, even in a Democratic controlled Congress.

(4) And the very nature of the plan suggests that we can be sold this plan only because someone else will pay for it. Why not simply present a plan that says we will pay for it? Would we then not want it if we had to pay for it?

Seth

 

MediCare now is not FREE.
Their are the doughnut holes and appropriate coverage or maybe lose your home.
Add to that the "Drug Plan" that requires you pay higher than "cash price".

MediCare is a sad joke as is ObamaCare on working people.
Only guarantees major medical institutions don't take a hit
with higher than market price for medicines !

HOW SICK A JOKE IS THAT?
Yet true.

 

So how about using that as a starting point? Let's raise payroll taxes enough so that seniors have free medical care - no donut holes. If we aren't willing to do that for our parents and grandparents, we are probably not going to be willing to pay for it for everyone else either.

 

None of them are planning across the board cuts in spending. And both parties are equal to blame for the deficit. With the exception of about 20 tea party republicans.

 

It is pointless to try and have a discussion with you as you will merely claim you have already refuted anything posted, as you routinely demonstrate and refuse to answer direct questions to you. Your history of obfuscation well documented.

And of course your claims of white flags, no white flag offered as I expect you will fallaciously claim, go waste someone else's time and patience.

 

Trump proposes 5 percent budget cut for each Cabinet agency
With deficits surging since he took office, the president on Wednesday proposed major spending cuts Congress is unlikely to approve.
https://www.nbcnews.com/politics/po...ercent-budget-cut-each-cabinet-agency-n921231

Do you support and will you vote for anyone running for Congress who does?

 

White flag noted and accepted.

 

Trump also made some moves to cut back international spending, like withdrawal of troops abroad, asking allies to support NATO more easing the US financial commitment burdens and other related schemes, but he could not change the domestic requirements at home and thus we encounter deficits. We even have infrastructures to fix requiring 3-4 trillion dollars. We need support from wealthy Americans like Jeff Bezos and the likes through tax to prosper Trump's wish for transition making America Great Again.

 

Quite difficult though, we should keep the nation running to maintain our strength economically, militarily, and politically, not to mention the domestic needs here at home.

 

Her first problem is that her plan to "pay for it" is unconstitutional. And then as you note the HUGE cost and spending and deficits it will produce. And it's amazing the leftward and anti-Trumpers are in other threads complaining about current deficits but supporting this nonsense.

 

Society never helped me pay for anything.

 

In units of F - 35's
How many would that be?


Donut holes are a sad joke on "we the people".
My Asthma generic Albuterol Inhaler is 30% cheaper
if I purchase it as an uninsured person than the MediCare dictated
price on my "drug plan" and deductible .
Price Fixing of medicine is part of the sad, Medicare Game Plan
on "us".


When gets "real" about health care reform
is should be the total system.
Not paying off cracks in the system and "feeding"
Health Insurance Industry and Pharm companies
whose products sell cheaper "over there".

​

 

An f35 is worth about a trillion dollars less than the man we put in it.
Therefore every pilot that comes back alive as a result of the money we spent on the plane creates a situation where the f 35 is a bargain.

 

So you need to take money out of the economy so the government can add money to keep it running?
Let me think about that a bit

 

What it never helped you pay for the roads you drive on? it never paid for your education? the military protecting your freedom, for cops protection your person or property, for inspectors to insure that your property is safe and likewise your neighbors so that their property won't put yours in danger. It never paid 1/3rd of your health coverage in tax deductions, it never paid for clean water delivered to your home? of for easements of public property for electric and utility delivery. what about sidewalks and parks, or museums or venues.

 

The economy is the main financial support of the nation, that's why a recession is always feared, the nation's main source for revenue is of course the tax from the economy.

 

That would require some serious discussion, as to what degree we don't require skin in the game. IMO, there needs to be some responsibility by the receipients, and some discussion regarding income caps.

 

Are you elderly or disabled? In desperate need of food?

 

I agree with you that there should be skin in the game instead of nebulous and untested and controversial proposals to find the mythical "someone else" to pay for it.

If we want this - and I'm not saying we do - but if we want this for ourselves, then we should pay for it. Other countries that have universal health coverage make their citizens pay for it. They make no bones about it. They all pay higher taxes than we do, and that's how they pay for it. It is a testament to the cowardice of our politicians here in the U.S. that they dream up these various schemes to finance UHC to give the impression that we can have it and not pay for it. They remind me of snake oil salesmen ... "If you take this potion, it will cure all your ills." Modern translation: "If you vote for me, I'll give you free health insurance that pays for everything, and I'll make someone else pay for it."

 

What does being anti trump got to do with it? Or being a progressive. One candidate on the left is proposing this wealth tax. Most candidates on the left want to increase the top 1-5% tax burden to reflect what proportion of their income they paid in taxes historically such as under Gingrich/Clinton when the budget was balanced.

 

My concern is the rationing that is inevitable, and the limitations in the way of freedom of choice and beyond.

What I mean by that, is those well publicized events over in the UK... one not permitting the parents of their boy to pay for a procedure with their own money, outside of the NHS. Sure, they could have done it, but would have been excluded from the NHS for the rest of their lives???

That is a government that should not EVER exist in this country. A government as such has taken the power of life or death as their right over their citizens... and that goes entirely against the grain why this country exists.

 

That is certainly a valid concern.

 

That they support the Warrens and the Sanders and the rest of the Democrat field and there propose HUGE increases in spending which cannot be supported by even their claims of revenue increases from tax rate increases so for them to complain and express concern about deficits and debt is laughable.

Sander's has his own wealth tax. The first problem is it is unconstitutional and without it Warren's and Sander's plans fall apart.

That is not what they paid because there were HUGE tax credits and deductions and in fact pay slightly more now than then.
https://www.taxpolicycenter.org/statistics/historical-average-federal-tax-rates-all-households

And it was higher tax rates that produced the surpluses of the late 1990's and the measly deficits of the mid 2000's it was lower tax rates and a booming economy.

Trump proposes 5 percent budget cut for each Cabinet agency
With deficits surging since he took office, the president on Wednesday proposed major spending cuts Congress is unlikely to approve.
https://www.nbcnews.com/politics/po...ercent-budget-cut-each-cabinet-agency-n921231

Do you support and will you vote for anyone running for Congress who does?