Bernie doesn't have a prayer.
Estimate raises questions about Sanders' proposals to pay for ambitious plans
Bernie Sanders has promised a sweeping agenda, but questions of cost continue to shadow his plans.
March 6, 2020, 5:30 AM EST
By Heidi Przybyla and Benjy Sarlin
WASHINGTON — As the Democratic presidential candidate promising a political revolution, Sen. Bernie Sanders has proposed new federal programs to overhaul the nation's health care system, tackle climate change and wipe away student debt.
But a budget estimate by a nonpartisan think tank provided to NBC News suggests that despite new proposals on how he would pay for them, his plans would still result in a $20 trillion budget shortfall over 10 years.
NBC News asked the Committee for a Responsible Federal Budget to respond to an itemized list the campaign released last week explaining how the Sanders, I-Vt., intends to fund a range of his proposals, including "Medicare for All," the Green New Deal, free college and housing for all.
The $20 trillion estimate is similar to a study the CRFB did of Sanders' 2016 campaign, which estimated that his proposals then would result in a $19 trillion shortfall.
Sanders has proposed several ways to fund his ambitious plans, including a wealth tax to eliminate homelessness and fund universal child care, as well as an "income inequality tax" on large corporations and chief executives to eliminate $81 billion in past-due medical debt. And while he has acknowledged some middle-class tax increases will be required to fund his health care plan, a range of budget experts say they would likely need to be far higher than what he's proposed if he delivers on all of his promises.
Based on the calculations provided NBC News, the Committee for a Responsible Federal Budget found it would take an additional across-the-board 15 percent to 20 percent tax on wages or income to fully fund Sanders' proposals over 10 years.
This is on top of the 10 percent increase already baked into Sanders’ proposals.
more:
http://www.nbcnews.com/politics/2020-election/analysis-raises-questions-about-sanders-proposals-pay-ambitious-plans-n1150771
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