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Price Tag of Bernie Sanders’s Proposals: $18 Trillion

• SocksCanClose 11y ago
  that's crazy! what happens if we go into a recession and the top 1% aren't making enough money to pay 30% of the tax bill...
  • biokoda 11y ago
    Print more money.
• raincom 11y ago
  If we understand the fiat money regime, Bernie's proposal is reasonable; that is, one does not need to get $18T from the taxation. The real constraints for any nation are real resources(labor, natural resources, for instance). What Bernie critics appeal to the limitations of financial resources('money'). The dominant economic thought in the states, the thought shared by both liberal and conservative economists, is called 'sound' finance: you can't finance a government unless you borrow or tax. There is an alternative thought, which is sounder than this 'sound' finance: it is Abba Lerner's functional finance. Modern Monetary theory (MMT) combines functional finance, with stock-flow consistent modelling pioneered by Old-school Kenynesian (not neo-Keynsian) Wynne Godley. Read MMT to understand why Bernie's stance is reasonable. WSJ, NYT, WaPo, etc, all represent the sound finance school, sold by the elite and their cronies on the left and the right.