FILE – In this May 18, 2019, file photo, Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., speaks at a house party campaign stop in Rochester, N.H. Rising disagreement among congressional Democrats over whether to pursue impeachment of President Donald Trump has had little effect on the party’s presidential candidates, who mostly are avoiding calls to start such an inquiry. (AP Photo/Robert F. Bukaty, File)
The media are going to lie about it, but Elizabeth Warren has just released her white paper on Medicare for All and it massively raises taxes on the middle class.
Check out these headlines.
Elizabeth Warren proposes new taxes to fund Medicare-for-all but says middle class would be spared https://t.co/ivQYnchrRn
— The Washington Post (@washingtonpost) November 1, 2019
— Jennifer Ablan (@jennablan) November 1, 2019
— CNN Politics (@CNNPolitics) November 1, 2019
It’s great to be a Democrat. If only these outlets had something called “journalists” that could actually read the plan and tell us if she’s lying about not raising taxes on the middle class.
Think about the realities of this. Her plan is admittedly going to cost $52T over ten years and that’s her estimate. You can safely add another 50% to that, but we’ll stick with the original number for the sake of analysis.
The federal budget is only $3.5 trillion a year. Her plan claims an additional $20.5T in federal spending. That’s over $2T more to the budget every single fiscal year. You could confiscate the entirety of the wealth of the top 1% in this country (who will supposedly be hit by her 2 cent “wealth tax”) and still be half short of the totals costs. It’s insane.
Further, while all those headlines are saying the middle class won’t pay higher taxes, it’s right there in her plan that they will.
Per CNN’s own article.
- A new employer Medicare contribution
I know they aren’t too bright over there, but last I checked, a Medicare contribution is a payroll tax. Payroll taxes are passed on to employees via decreased wages. No employer is just going to eat a massive (and it would need to be massive) new entitlement cost in the form of a payroll tax. That’s a tax on the middle class, period, and every outlet not pointing that out is gaslighting you. Further, most businesses are owned by the middle class.
She also pledges increased tax revenue through “immigration reform.” In other words, she hopes to have completely open borders and full scale amnesty to bolster the tax base. She further says she’s going to cut defense spending, because that wasn’t a disaster last time or anything.
Lastly, Warren wants to repeal the Trump tax cuts, which would raise taxes on the vast majority of the middle class. But that’ll be ignored of course. Not to mention that everything she’s proposing to do to high income earners and businesses will destroy the economy. Just pay attention to how fragile things are in relation to interest rates or small price increases via tariffs. Now imagine what will happen when it’s a 6% tax increase and huge payroll increases.
The dishonesty of the media to go around and just parrot her claims uncritically gives you a preview of what we’ll be facing in 2020. They are not going to do anything to damage a Democrat after what happened in 2016.
Enjoying the read? Please visit my archive and check out some of my latest articles.
I’ve got a new twitter! Please help by following @bonchieredstate.