When Bernie Sanders and his Senate Democrat friends unveiled their plan for government-run health care, the first thought for many was “How would we pay for this?” Fortunately, the ever helpful socialist from Vermont has provided an outline for a more than $16 trillion tax hike to go along with his single-payer plan.
Highlights of Bernie’s zany tax hike ideas:
- 7.5% payroll tax on employers.
- 4% income tax on wage-earners.
- 52% top income tax bracket (up from current 39.6% – a 31.3% increase).
- Increase the death tax from flat 40% to a progressive rate with an upper bracket of 65%.
- Implement a federal personal property (net worth) tax.
But Bernie’s taxes only cover half of the estimated $32 trillion price tag for his health care plan. Leave it to Senate Democrats to propose raising taxes by $16 trillion and still add another $16 trillion to the national debt.
“Only Senate Democrats could come up with a plan that raises taxes by $16 trillion, but still covers only half of their proposed spending increase,” said NRSC Communications Director Katie Martin. “Senate Democrats’ plan is the worst of all worlds: government-run health care, the largest tax hike on American families in history, and a massive increase to our national debt.”