[quote]Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.
Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor.
Friedman found that if Sanders became president -- and was able to push his plan through Congress -- median household income would be $82,200 by 2026, far higher than the $59,300 projected by the Congressional Budget Office.
In addition, poverty would plummet to a record low 6%, as opposed to the CBO's forecast of 13.9%. The U.S. economy would grow by 5.3% per year, instead of 2.1%, and the nation's $1.3 trillion deficit would turn into a large surplus by Sanders' second term.[/quote]
Hmm, doesn't quite seem to fit with the criticism of Sanders' plans and how it will be the downfall of the US as we know it...
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I'm enjoying these debate threads. It's actually inspiring me to research more into politics. I like Sanders ideas and I like that he acknowledges certain things in this country are screwed up. That being said, I'd have to say that his policies look great on paper, but how exactly he's going to implement them remains a mystery. It could fail, or maybe it could work. No system is ever perfect.
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I like how you chose to omit this paragraph: [b][i]"Other economists, however, feel that Friedman's analysis is overly optimistic, saying it would be difficult to achieve that level of economic prosperity. Last week, the Committee for a Responsible Federal Budget said Sanders' plan to pay for health care would fall short by at least $3 trillion"[/i][/b] You Sanders supporters are all so disingenuous.
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Edited by UncleSir_: 2/9/2016 2:12:48 AMIf you think that is impressive you should see what the CBO and MIT (Mass. Institute of Technology...not Mitt Romney) say about a consumption tax. Businesses don't pay taxes....that is an expense that is passed along to the consumer. The average item on a store shelf (before you get taxed at the register) has been taxed so much in it's creation that 22% of the price tag is the businesses getting back the taxes they had to pay to get resources, make the product, and ship it to the store. So what if we were a consumption only tax system and taxed purchased goods at the average of 22%? You would receive your entire pay check...all of it...not just what is left over. If an items price tag said $100 today, under this system the tag would say $78. You get to the register and 22% is added...Total price $95.16. [b]But how can that work if the govt is getting less tax money?[/b] Because EVERYONE will pay taxes. Right now, if you have a legal job and get a W-2 or 10-99, you and ppl like you pay income tax, SS tax, and medicare tax. Do you know who doesn't pay taxes? People getting paid under the table, 'undocumented immigrants', prostitutes, bookies, drug dealers, etc. If the US became a tax free haven for businesses what business would NOT want to open up shop here? Where could you NOT find a job? Want to go to college? You and/or your parents could decide how much they want to save, TAX FREE, to send you there. There is a real possibility that there will be a lack of workers and some businesses may send you to school under contract (it happens now). TL;DR - if you need this you should not be in the conversation
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Edited by ShapelessHorr0r: 2/9/2016 4:25:02 PMEconomist = singular Mind = blown Furthermore, I can almost guarantee you that this is an optimistic look at Sanders' plan. Essentially, it only looks at the numbers and dismisses the logical consequences of said numbers. You know, the only real criticisms that have been leveled at Sanders. [quote][quote]according to an analysis given exclusively to CNNMoney.[/quote][/quote] Edit: Hey Max, Lincoln, and Britton. Can we stop with simply quoting articles? When has aimless rhetoric gotten anyone anywhere? This goes less towards the latter of course, but do you guys even fully understand the policies you so back up? You, on a constant basis, simply look like the angsty college students who think they know something because Bernie swooped them up with his blatant pandering. What happened to having a debate in order to learn, to be more educated? Oh yeah, trending happened...
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a 90% tax on wealthy people ? How about no
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It might work on paper, but usually these things don't work as well in practice.
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I could be wrong, but I have read that this economist just happens to be the guy who authored the plan for the Sanders campaign...
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Just because you print more money ... Doesn't make it worth more.
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Socialism doesn't work, ask Greece
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At this point, Sanders is the lesser of the two evils in the democratic and the lesser of the two evils in the finals.
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[quote]how it will be the downfall of the US as we know it...[/quote] Have a little think about what will happen to the cost of living if household income rises. Prices of everything will increase to match. You will be no better off, all that extra people earn will be paid out in the rising cost of living. It will be exactly the same as it is now, nothing will change.
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that's like saying you saw one movie reviewer saying the dark knight is the worst film of all time, and then you adopted that opinion
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Yea economist are always right. And I'm sure it speaks for every economist. There's no way I'll be able to find one who says otherwise (that's sarcasm in case you missed it.)
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this is coming from CNN. CNN, the same network that doesn't know how to use a map properly CNN, the same network that hired Piers Morgan I highly doubt they know how the economy works
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So... A guy who has similar views on the economy and how it works with Sanders agrees with him..... In other news, tobacco has been found to NOT increase your risk of cancer, according to the tobacco company funded research we conducted!!!
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Shocking that an economist who believes in socialism supports another socialist.
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Ok Mad Max I'm not going to debate with you whether or not you should support Bernie Sanders or not because that's your business. But using an article off of a liberal media outlet like CNN is not really an unbiased POV. Also there is no guarantee on any of these predictions for all we know everything he does could literally destroyed our economy and country or on the other hand could be the greatest thing thats ever happened to the United States of America, but using some kind of prediction article isn't really a sound foundation for debate.
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Lol. Gerald Friedman. I opened this thread thinking "I bet it's Gerald Friedman of UMass," and it actually is him. This is "the" economist who defends Sanders every time. He is also a long time socialist activist.
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I found a pic of MadMax, explains so much.
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[b] [/b]
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Economists cant agree weither or not the new deal ended the great depression or if it just ended on its own. So forgive me if i dont bekieve anything an economist says
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Technically median income will increase by giving all the unskilled workers a higher min wage. However all of us in the middle class will have the same income but higher tax expenditure. So I find this a little misleading. Only the bottom benefit.
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Edited by Kohaku Koi: 2/11/2016 4:08:34 PMWhy did you selectively edit out the paragraph in your source that describes how many economists question the validity of this analysis? Either you're stupid or you're a liar. Which is it?
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I got as far as the ninth grade and am not voting for him because he's a socialist and socialism is communism simple as that
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Edited by Masshole: 2/10/2016 12:49:00 AMIf theres one person I'm going to concentrate on in the realm of economics (that's alive), it's going to be this guy named Keiser, I believe. He graduated from Princeton in 2010, then got a job at a private firm. He actually predicted oil would fall off a cliff like it is now back a few years ago. All of his research was dismissed by top analysts, but he called it. He knows what he's doing. [spoiler]I do have to admit, though. The more I read on Sanders' history, the more I like him. Don't agree on everything, but there are definitely some things I like.[/spoiler]
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Edited by A Syrian Refugee: 2/8/2016 10:31:14 PMOne economist named Friedman supports bernies plans so -blam!- it Im just going to say "economistS" to make it seem like tons of people back him Nice mad max, but ONE Economist who has a pretty bad reputation does not mean economistS agree