If a conservative has two apples and you take one and hand him back two, he won’t say something about having three apples.
He will just mourn about the one you took away.
That is precisely what is going on in conservatives’ brains as they read Bernie Sanders’ tax plan which has just been published.
As so often happens among conservatives, the choir has settled in and is crooning the opening performance of “The Sky is Falling”.
The newest cause for this rousing display of anxiety is Bernie’s tax plan. But then, the choir started warbling weeks before the tax plan was even unveiled.
Maybe the doomsayers have ESP as well.
The tax plan has been released — as assured by Bernie. The truth is nowhere near as evil as the pinheads who recoil at anything that is actually beneficial for the country.
That is unless you’re part of the 1%. Everyday Joe’s, like me, — and probably you — don’t have anything to despair about.
On January 19, the ultra-conservative newspaper, Washington Examiner, ran an article which semi-accurately described Bernie’s tax plan . What the Examiner did not admit were the gains to the American public.
Before that piece is torn apart, let’s see where the nefarious “90% tax rate” idea began.
Trump in Richmond
The black hand of death surrounding Bernie’s taxes began in October 2015 when “Diva” Donald Trump addressed a rally in Richmond, Virginia.
Just after Trump called Sanders the “c-word” — communist — Trump went on to say that Sanders was going to tax “you people” at 90%.
“He’s gonna take everything. And nobody’s heard the word communist, but you know what? I’d call him a communist, okay? That’s what he is,” said Trump.
Bernie would have to waste his entire life if he were to reply to every crazy thing that Trump has said. But Bernie did respond to Trump’s bit of foolishness.
“Yes, we are going to ask Trump and his billionaire friends to pay more in taxes. We’ll come up with the rate, and it will be a damned lot higher than it is now.”
It’s clear that Bernie wants to increase taxes on the “1%”. Does he aspire to tax the average American that stood before Trump at the Richmond rally at 90% as well?
Of course not. Even giving every American health insurance — a basic right — won’t bankrupt anyone.
Private Health Insurance
A cursory look at the tax plan — cursory meaning anyone with a high school diploma can do it — shows the lie behind Trumpites’ claims.
Someone now paying $10,000 a year to a private health insurance company will pay $5,000 more in taxes. The savings though on the annual health insurance bill will be more than $5,000.
Is there anyone, other than a slow 4th-grader, who wouldn’t mind paying $5K in taxes if they realized a greater than $5K in savings?
Now, for the tax plan that the conservatives and Trumpites are so afraid of.
Sanders’ tax plan, for anyone willing to be intellectually honest, will:
1 Repeal Bush tax breaks for top 2% –> $1 trillion
2 Create an emergency deficit-reduction surtax on millionaires –> $383 billion
3 End tax breaks and subsidies for big oil, gas and coal companies –> $113 billion
4 Establish a Wall Street speculation fee(supporters of FFT) of 0.03% –> $350 billion
5 Eliminate tax breaks for companies shipping American jobs overseas –> $582 billion
6 Prohibit abusively and illegal offshore tax shelters –> $1 trillion
7 Establish a currency manipulation fee on China and other countries –> $500 billion
8 Tax capital gains and dividends the same as work –>$730 billion
9 Establish a Progressive Estate Tax –>$300 billion
10 Reduce unnecessary and wasteful spending at the Pentagon, which now consumes over half of our discretionary budget –> $1 trillion
11 Require Medicare to negotiate for lower prescription drug prices with the pharmaceutical industry –> $157 billion
12 Eliminate waste, fraud, and abuse within every federal government agency –> $150 billion
Total: $6.27 trillion in savings and revenue
Makes for a fine apple barrel, doesn’t it?