Republican’s always state that lowering taxes and deregulation will lead to increased job’s and higher distributions of wealth, what they fail to tell their poor and middle class american’s is that these policies will do very little for you and your family, instead these laws and corporate welfare go to help billion dollar companies, and CEO’s who already make an average of 4,000 times what they pay there average employee.
Independent senator and presidential candidate Bernie Sanders of Vermont has some interesting ideas that would help balance out the vast income inequality in the nation, and provide us all with healthcare, except many say these plans are unrealistic and affordable.
The Prices of Bernie’s plans are as follows
- Medicare for All: $1.38 trillion
- New WPA: $200 billion (5-year limit)
- Free College: $75 billion
- Paid Family Leave: $31 billion
- Total Annual Cost: $1.49 trillion
While this number seem’s like a huge increase in federal spending it could all be paid for by cutting tax loopholes and corporate welfare for the 1%, I think this is a valid compromise as these people and corporations already own and make more wealth then the bottom 90% of American’s what’s wrong with redistributing the wealth a bit?
Listed below is a list of current corporate welfare by the US government.
- Allowing Wall Street to trade tax free costs American taxpayers: $352 billion
- Extension of the Bush Era Tax cuts for the wealthy: $277.6 billion
- Government contracts for the 200 wealthiest corporations $176 billion
- Lifting cap on Social Security taxing: $120 billion
- Money lost to corporate tax havens: $100 billion
- Wall Street welfare: $83 billion
- Corporate welfare in omnibus spending bill: $65 billion
- Surveillance-industrial complex: $52.6 billion
- Tax breaks for wealthy investors: $51 billion (Average over 5 year period)
- War in Afghanistan $35 billion ( Also to note the Overseas contingency operations which gives additional funding to the DoD to support the missions around the globe especially in the war on terrorism this appropriation is some $89 billion)
- Oil company subsidies: $37.5 billion
- Tax breaks for wealthy children: $26.9 billion
- New nuclear missiles: $18 billion
- Ford-Class aircraft carriers $15 billion
- F-35 Joint Strike Fighter: $10 billion
- Foreign war slush fund: $8 billion
- Walmart subsidies: $7.8 billion
- Tax breaks for CEO Bonuses: $7 billion
- Littoral Combat Ship: $2 billion
- Unusable planes for Afghan Air Force: $800 million
- Keeping Guantanamo Bay open: $454 million
The Savings from these tax breaks total $1.46 trillion eliminating these tax cuts for the people who can afford it would pay for 90% of Sander’s proposals, as well as going to reduce income inequality, and access to higher education and affordable healthcare. When you see these figures are Sanders proposals really that far fetched.
I support Bernie Sanders because he is the only candidate to break down every barrier ever placed in front of him, he’s been a civil rights activist for decades, he has introduced countless legislation over his tenure in the House of Representatives and the Senate, as well as his accomplishments as mayor of Berlington, VT. Sanders has given the millennials a voice many have thought was lost.