{{
`${userDetail.user.displayName}${userDetail.user.cachedBungieGlobalDisplayNameCode ? `#${standardizeBungieGlobalCode(userDetail.user.cachedBungieGlobalDisplayNameCode)}` : ""}`}}
{{getUserClans()}}
2/8/2016 10:16:05 PM
81
Under Sanders, income and jobs would soar, economist says
[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...
-
1 ReplyEdited 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
