It can get funded because he would close loopholes and deductions to make it work. Either way, the effective tax rate is the 50’s was higher and the world didn’t collapse did it?The effective rate would still apply today. Nobody would pay up to 70%. Hell right now 2/3 of corporations don’t pay any federal taxes effectively.And yet their tax rate was at 90% in the 50’s and as of now, they are wealthier than ever before. Of course they could afford it.Yes, the idea that they are "free" is a lie. Bernie has a program to pay for everything he proposed.
And do you know what that plan is? Tax the wealthy at 70%. How many people would earn that kind of money if they were going to give most of it to the government? HIs plan would put us in a recession we could never get out of until the Democrats were out of leadership and the Republicans took over.
If the tax rate were 0%, the federal government would collect 0 dollars. If the tax rate were 100%, the federal government would still collect 0 dollars because who would be stupid enough to create wealth?
Except for the fact nobody ever paid 90%. Why would you earn a million dollars if you had to give it all to the government? If the tax rate was 70%, and your local taxes are another 20%, it makes no sense to create income. Only Communists and Socialists would approve something that stupid.
If they aren't going to pay 70%, then his plan can't get funded now can it?
Currently Medicare costs us about 750 billion dollars per year, and only 15% of our population is on it. That means it would cost us over six times that amount every year for everybody to be covered. And as Congressman Delaney pointed out, many of the hospitals would close and many doctors would leave the industry.
What you don't understand is that the government only pays for part of the cost for care of their patients. My experience is about 80%. They make up the loss through private pay and insurance payments. This is why when you see facilities close up, it's usually in poorer neighborhoods where most of the patients are government clients. There is no way for them to recoup those government losses.
So with Bernie's plan for starters, it would cost us 4.5 trillion a year which is more than what we spend on everything now, and we're adding to the debt because of it. To keep those hospitals and doctors we currently have, it would cost us an extra 20%. That puts us well over 5 trillion a year, and we still need to fund all our other social programs and defense of this country.
Now tell me that's going to work.
Why would the doctors quit? Why would the hospitals close? Based on what? You also forget that we pay per capita more than any nation in the world on earth on healthcare. A socialized system would save us money.