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Let's assume all this is true. Then why doesn't every progressive socialist on the ballot win with more frequency? Why doesn't Bernie win in a landslide? These are strong to overwhelming majorities here you are claiming.
Because the second part of the question never gets asked. Are you willing to give 50% of YOUR income to the government to pay for these proposals. Ask that question, and then see how many people say yes. Many independent organizations put the cost to the middle class at about 50% of total income.
In 2018 the average American had a total tax burden of 31.7%. This includes all taxes paid, payroll, income, sales, property, etc.
Countries with socialized medicine/education pay much higher taxes overall, not just the rich as the Democrats like to point out. If you notice, most of the taxes are collected from payroll taxes, not income tax. This is important because you don't receive tax deductions or credits on payroll taxes, they affect everyone who works, equally.
Just read an article in Huff post about Bernie Sanders becoming a millionaire. To be honest I'm not entirely sure what a Bernie Sanders might be.
The term 'progressive taxation" was mentioned, as if the US doesn't have it. I always assumed US had a progressive tax system. IE the higher your income ,the higher the percentage tax you pay.
Eg in Oz, below a certain income, no income tax is payable. Minimum rate is 35%, then it goes up to 42%. I forget the maximum rate. Of course rich people pay nothing like that.
There is saying here "I want to be rich enough not to pay taxes"
I know the economist Keynes is out of favour. Not with me. That's because in the great financial meltdown, governments all over the world defaulted to Keynesian economics to deal with the problem. Instead of allowing the market to adjust, governments made massive loans to business.
MY POINT; Keynes said that for a healthy economy, 3 things are needed;
Full employment ;defined as no more than 3% unemployed
High wages
HighTaxation
I call it American fascism Here, the people with money want special treatment from the govt. regarding funding and taxes.
Because the second part of the question never gets asked. Are you willing to give 50% of YOUR income to the government to pay for these proposals. Ask that question, and then see how many people say yes. Many independent organizations put the cost to the middle class at about 50% of total income.
In 2018 the average American had a total tax burden of 31.7%. This includes all taxes paid, payroll, income, sales, property, etc.
Countries with socialized medicine/education pay much higher taxes overall, not just the rich as the Democrats like to point out. If you notice, most of the taxes are collected from payroll taxes, not income tax. This is important because you don't receive tax deductions or credits on payroll taxes, they affect everyone who works, equally.
Add health insurance premiums and that does push to 50%.
That's why with next election you'll be hearing more about a people's QE or equivalent to help bolster the middle class. Probably both from the Dems and from Trump, with different nuances.
Just read an article in Huff post about Bernie Sanders becoming a millionaire. To be honest I'm not entirely sure what a Bernie Sanders might be.
The term 'progressive taxation" was mentioned, as if the US doesn't have it. I always assumed US had a progressive tax system. IE the higher your income ,the higher the percentage tax you pay.
Eg in Oz, below a certain income, no income tax is payable. Minimum rate is 35%, then it goes up to 42%. I forget the maximum rate. Of course rich people pay nothing like that.
There is saying here "I want to be rich enough not to pay taxes"
I know the economist Keynes is out of favour. Not with me. That's because in the great financial meltdown, governments all over the world defaulted to Keynesian economics to deal with the problem. Instead of allowing the market to adjust, governments made massive loans to business.
MY POINT; Keynes said that for a healthy economy, 3 things are needed;
Full employment ;defined as no more than 3% unemployed
High wages
HighTaxation
Where did you come up with the stuff about Keynes?
1). Keynes, more than once, said and implied that aggregate taxation should be around 23-25% of GDP. Further, that tax rates should be increased when the economy is overheating and in times and taxes should be decreased in times of slack demand.
The US and Oz are each currently way over Keynes' prefered level of taxation.
2). Keynes did not say that 97% employment was full employment either. He thought of FE as whatever the number was when more or less everyone who wanted a job had one.
3). I'm not sure he ever argued for broadly "high wages" either, in fact I'm pretty sure he didn't. What he did do was shoot a massive hole in the "Classical" notion that in times of low employment wages should be lowered so that firms would hire more people.
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