Green New Deal >
Raising $3.085 trillion by making the fossil fuel industry pay for their pollution, through litigation, fees, and taxes, and eliminating federal fossil fuel subsidies.
Generating $6.4 trillion in revenue from the wholesale of energy produced by the regional Power Marketing Administrations. This revenue will be collected from 2023-2035, and after 2035 electricity will be virtually free, aside from operations and maintenance costs.
Reducing defense spending by $1.215 trillion by scaling back military operations on protecting the global oil supply.
Collecting $2.3 trillion in new income tax revenue from the 20 million new jobs created by the plan.
Saving $1.31 trillion by reduced the need for federal and state safety net spending due to the creation of millions of good-paying, unionized jobs.
Raising $2 trillion in revenue by making large corporations pay their fair share of taxes.Key Points:
By averting climate catastrophe we will save: $2.9 trillion over 10 years, $21 trillion over 30 years and $70.4 trillion over 80 years.
If we do not act, the U.S. will lose $34.5 trillion by the end of the century in economic productivity.
Medicare for All >
According to a February 15, 2020 study by epidemiologists at Yale University, the Medicare for All bill that Bernie wrote would save over $450 billion in health care costs and prevent 68,000 unnecessary deaths each and every year.
Since 2016, Bernie has proposed a menu of financing options that would more than pay for the Medicare for All legislation he has introduced according to the Yale study.
These options include:
Creating a 4 percent income-based premium paid by employees, exempting the first $29,000 in income for a family of four.
In 2018, the typical working family paid an average of $6,015 in premiums to private health insurance companies. Under this option, a typical family of four earning $60,000, would pay a 4 percent income-based premium to fund Medicare for All on income above $29,000 just $1,240 a year saving that family $4,775 a year. Families of four making less than $29,000 a year would not pay this premium.
(Revenue raised: About $4 trillion over 10-years.)Imposing a 7.5 percent income-based premium paid by employers, exempting the first $1 million in payroll to protect small businesses.
In 2018, employers paid an average of $14,561 in private health insurance premiums for a worker with a family of four. Under this option, employers would pay a 7.5 percent payroll tax to help finance Medicare for All just $4,500 a savings of more than $10,000 a year.
(Revenue raised: Over $5.2 trillion over 10-years.)Eliminating health tax expenditures, which would no longer be needed under Medicare for All.
(Revenue raised: About $3 trillion over 10-years.)Raising the top marginal income tax rate to 52% on income over $10 million.
(Revenue raised: About $700 billion over 10-years.)Replacing the cap on the state and local tax deduction with an overall dollar cap of $50,000 for a married couple on all itemized deductions.
(Revenue raised: About $400 billion over 10-years.)Taxing capital gains at the same rates as income from wages and cracking down on gaming through derivatives, like-kind exchanges, and the zero tax rate on capital gains passed on through bequests.
(Revenue raised: About $2.5 trillion over 10-years.)
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