Regular readers of LwC already know that we can’t afford Bernie Sanders, what with you being geniuses but also because we’ve reported it before (see Bernie Sanders: The Most Fascist Candidate of All and BUSTED: Bernie Sanders’ Plan – Why The Math Doesn’t Work!). Turns out people are aware of this thing called “math.” Someone tell Bernie.
Billions of dollars would be at stake. Most employer-provided health insurance would disappear, saving companies (Aaron says) about $700 billion. Some of that would be drained by a new 6.2 percent payroll tax to pay for government insurance. But what would happen to any remainder? Would it fatten workers’ wages or shareholders’ profits?
Drugs are only 10 percent of total health-care costs, according to the Centers for Medicare and Medicaid Services. Similarly, insurance companies’ profit and overhead represent about 6 percent of all health-care costs: equal to about one year’s growth in total spending. Even large cuts to both (say 20 percent) would represent relatively modest reductions in overall health costs.
Here’s the money shot…
If savings are overestimated, then the taxes needed to pay for the plan are underestimated — perhaps dramatically. Already, one major health scholar, Kenneth Thorpe of Emory University, says that the campaign has understated the plan’s costs by about $1 trillion annually. Covering that extra spending would require an income-based tax of 20 percent, not the 8.4 percent proposed by Sanders.
Translation: You’re going to pay up. You’re going to pay up so hard, you won’t have anything left. All your disposable income? Disposed into Bernie’s socialist utopia. Kiss all your money goodbye. Wave to it. Tell it how much you appreciated it while you had it.
Oh, and Bernie Sanders – who just tied in Iowa – is about to win South Carolina easily. If you think the sudden reporting of Bernie’s math being as real as Shaun King’s race, while primaries are being decided, is a coincidence, think again.
Hillary Clinton’s current and most important enemy is Bernie Sanders. He poses a real threat to her dynasty. Bernie’s socialist proposals were always going to cost buckets more than he alleged. Yet it is only being called out as total crap now, when votes are being cast.
Am I being paranoid, or do you think Hillary has sent out a mass email, from pick a server any server, to her lackeys in media? Perhaps she’s a bit nervous that she’ll lose the next coin toss, or at least her facade of “calm and cool.” Which, let’s be honest, is already a bit shaky…
Does math make your brain hurt? No worries! We broke down Bernie’s idiotic tax plan for you…