Thread by @HeidiNBC

A few points:

(THREAD)
1.Sanders released a recent list of ways to fund his programs
2. It includes raising taxes to ab 50% marginal rate on middle class, in addition to all wealth, corporate, inequality taxes (adding it up)
3. Even AFTER this, there's a $20 trillion shortfall.

https://twitter.com/HeidiNBC/status/1235934912928235520

4. Choices: Issue more debt than totaling our entire history or massive tax increases
5. What's it mean for middle class? Ex: a family earning $80K would pay 60% marginal rate.
6. Lower premiums, savings for companies would all = big savings for the m.c., Sanders camp says.

7. He is right single payer is more efficient, savings from cutting out sig admin costs etc. and U.S. spending way more on health care than other nations.
8. BUT the countries he cites as a model have big VAT (sales taxes) & much higher income tax rates.

Here’s Denmark:

One he often uses: money.cnn.com/2013/04/01/pf/…
9. So .. to have an honest discussion these trade offs need to be part of it.

Good chart of the #s behind Medicare for All, where there's the biggest shortfall:

crfb.org/papers/primary…

Net fiscal impact:
Biden: $800 billion
Sanders: $13 trillion
Warren: $6.1 trillion

For those questioning the tax rates, here’s what Sanders has ALREADY proposed:

22% income tax + 15.3% payroll tax + proposed 4% income surtax + proposed 7.5% payroll tax = 48.8%. W state and local, it’s roughly 50%.

This is for a family with $80,000 in taxable income.

Thank you @BudgetHawks for helping us add it all up.