Bernie Sanders has a serious shot at being the Democrat presidential nominee. Many polls have him leading in both Iowa and New Hampshire. That’s disturbing. That’s like handing America over to Fidel Castro.
How radical is Bernie? To simplify things, I’ll just let the numbers do the talking.
The Wall Street Journal featured a chart in Monday’s edition showing how radical and extreme the economic and tax positions are, of all the Democrat Presidential candidates. But no one comes close to Bernie Sanders. Bernie is in a universe all his own.
Keep in mind I’m your typical small businessman. Guys and gals like me create most of America’s jobs and pay most of the taxes. And we are overwhelmed. Even with President Trump’s tax cuts, taxes are still way too high. We have to work 16 hours a day to somehow keep up with all the taxes, and the thousands of hours of accounting that goes with it.
But that’s with federal income taxes at only 37% (plus Medicare tax surcharge that brings it to 40%). That’s with capital gains tax only at 20% (plus Obamacare surcharge that brings it to 23.8%). Add in FICA (Social Security taxes) of 12.4% for anyone self- employed, on the first $137,700 you make.
Basically- even with Trump- our whole lives are about struggling to pay taxes, on top of taxes, on top of taxes. And that’s with living in Nevada, where state income taxes are zero.
Do you want to hear what Bernie proposes? Get ready to get violently ill. More importantly, get ready to move to another country.
Bernie wants your income tax rate to jump from 40% to 69.2%. And Bernie wants to remove the cap on FICA taxes. Now instead of paying about 16% combined taxes for Social Security and Medicare up to $137,700, under Bernie you’ll pay it on every dollar you earn- to infinity.
So, in states like New York and California your tax rate will be just about 70%, plus 13.4% state income tax. That’s just about 85% taxes.
Generous Bernie will leave you with 15% of your own money. You’ll need it, because out of what’s left you’ll have to pay for your property taxes and sales taxes. Basically, under Bernie, government wants all your money. You’ll be working for Uncle Bernie.
What about capital gains? Bernie wants to raise those tax rates from 20% to 55.8%. Goodbye to every job in America. Who would ever again buy a stock, or risk a million dollars to start a business and then get hit with taxes like this? The answer is no one.
Bernie Sanders is certifiably insane. And Dangerous. It would be like electing communist Fidel Castro as president of the United States.
Thank God Bernie will never be president. But amazingly, he very well may be the 2020 Democrat presidential nominee.
Lastly, consider this. A few days ago, Bernie was endorsed for President of the United States by the Clark County Teachers Union. These are the people who mold young minds. These are the people who teach math to your kids.
No wonder Nevada’s students are failing. Their teachers can’t add 2+2.