Bernie Sanders Wants to Raise Taxes by $19.6 Trillion (Yes, You Read That Right)
Will this presidential election be the most important in American history?
If Bernie Sanders was elected President of the United States, he would tax Americans an additional $19.6 trillion over the next decade.
(Yes, you read that right. That’s trillion, with a “t”…)
The Washington Examiner reports:
Taken together, Sanders is proposing $19.6 trillion in new taxes over a decade, according to an analysis by the Washington Examiner, of which $14 trillion would come from his healthcare plan alone. To put that in perspective, the Congressional Budget Office projects that federal revenues over the next 10 years will be a total of $41.6 trillion, meaning that Sanders would raise taxes by 47 percent over current levels.
The Examiner also put together a list of the proposed tax increases, which is enough to make you cry:
What planet is Bernie Sanders living on?
Every dollar of those taxes is a dollar not spent on small businesses, or creating jobs, or investing in homes, or saving for retirement, or paying off student loans. The short and long run economic effects of a tax increase of this magnitude would be devastating.
By the way, the GDP of the entire United States was $16.77 trillion in 2013. That’s right- Bernie Sanders wants to tax away more than 10% of the nation’s GDP every year, on TOP of the current tax rates.
#FeelTheTaxBern