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Under Sanders, income and jobs would soar, economist says
Quote:
Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.
Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor.
Sanders' plan to pour $14.5 trillion into the economy -- including spending on infrastructure and youth employment, increasing Social Security benefits, making college free and expanding health care and family leave -- would juice GDP and productivity. Also, he would raise the minimum wage, as well as shift income from the rich to the middle and working class through tax hikes on the wealthy and corporations.
"Like the New Deal of the 1930s, Senator Sanders' program is designed to do more than merely increase economic activity," Friedman writes. It will "promote a more just prosperity, broadly-based with a narrowing of economy inequality."
Is this economist one that didn't see the 2008 collapse? I'm betting he is.
He is also a democratic socialist as bernie claims to be, so of course he is going to support him.
I seriously doubt that. Look at other socialist countries please. The U.K, for example, you have to pay for college now, it was free at one point. Same with healthcare, you will be treated if it's an emergency, otherwise wait in line.
When Bernie is president, I'm going to demand nursing home to be free, hell yes, it's about time boomers get to demand something. And 100% raise in Social Security, no income test. How's that millennials ?
Is thi economist one that didn't see the 2008 collapse? I'm betting he is one of them.
He is also a democratic socialist as bernie claims to be, so of course he is going to support him.
Here is Bernie in 1998 warning about the practices that led to the 2008 collapse:
Under Sanders, income and jobs would soar, economist says
Not all economists are right, and this guy is obviously wrong. First off, he doesn't mention the massive tax increases that is needed to finance a 14.5 billion package.
But lets say he borrows the money, and start pumping money into the economy. It would not lead to 26 million jobs created, because people outside the labour force are not very employable, they don't have the skills required. Soon, he will experience a shortage of skilled workers. He can't increases wages, because that will increase inquality and lead to crowding out for private business.
Hence he will have to stop the massive spending, and the economy goes into a recession, because companies expected higher earning, and now they are cutting back.
If I truly believed he could get it done I would gladly cross party lines and vote for him so my kids and grandkids would have a better chance for the future. I'm being serious here. Voting in the same old crooks with same old crooked ways AIN'T WORKIN'
I seriously doubt that. Look at other socialist countries please. The U.K, for example, you have to pay for college now, it was free at one point. Same with healthcare, you will be treated if it's an emergency, otherwise wait in line.
When Bernie is president, I'm going to demand nursing home to be free, hell yes, it's about time boomers get to demand something. And 100% raise in Social Security, no income test. How's that millennials ?
Many social democratic countries have tuition free public universities.
Regarding health care, a study ranked healthcare of various countries
Bernie Sanders has for a long time been an advocate of raising the cap on income subject to payroll tax so the wealthy pay the same rate as everyone else which will expand social security so seniors can live better. He is the only candidate proposing it.
This is not an utopian dream we are led to believe. It can happen. The status quo stands in the way. We dont have to elect the same people who are all beholden to the special interests and rich donor class who are bent on reducing the standard of living of ordinary Americans.
Some might not like all his policies, and thats fine. We cant agree with a candidate on absolutely everything. But Sanders provide salt of the earth Americans with a real choice. He has fought for ordinary Americans for more than 40 years.
Of course, Sanders needs our help. But a straight shooter and ambitious visionary like Bernie Sanders in office is a good first step to re-create an America that works for working class people of this country, not just the billionaire class.
Sanders is making a lot of arguments for improving the overall life for the average American.
A single payer health care system and free college would go a long way toward restoring middle class America.
A couple of trillion on infrastructure would benefit everyone.
You don't improve the life of the average American by trying to drag everyone down to be "average". If there weren't "winners and losers" no one would play the game and the economy would collapse because no one would bother to try.
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