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The DC establishment’s latest attack on Bernie Sanders’ tax plan has just been thoroughly debunked.
In case you missed it:
On Friday afternoon, the Tax Policy Center (TPC) — a project of centrist think tank Brookings Institution — published a thoroughly-flawed analysis of Bernie Sanders’ tax plan. The TPC claimed that by raising $15.3 trillion in new revenue over ten years to fund Sanders’ proposals for free public college, universal health care, paid family and medical leave, and millions of new infrastructure jobs, the overall income of the average American would drop by approximately 12 percent.
However, the analysis was fundamentally disingenuous, as it analyzes the tax increases in a vacuum and does not account for the tremendous amount of savings that would be realized by families using public health insurance and colleges. It also does not account for the overall economic benefit of 13 million new public sector jobs and the resulting flow of new money into the economy.
“We do not account for the effects of the new government programs on income,” TPC co-founder Leonard Burman told Politico, in a revealing quote buried thirteen paragraphs below Politico‘s misleading headline. “We’re not really experts on the spending component.”
Neither Politico nor the TPC bothered to compare Sanders’ new tax rates, which most adversely affect the richest 0.1 percent of Americans, with the amount of money families would save should Sanders’ proposals become reality.
However, the analysis was fundamentally disingenuous, as it analyzes the tax increases in a vacuum and does not account for the tremendous amount of savings that would be realized by families using public health insurance and colleges. It also does not account for the overall economic benefit of 13 million new public sector jobs and the resulting flow of new money into the economy.
“We do not account for the effects of the new government programs on income,” TPC co-founder Leonard Burman told Politico, in a revealing quote buried thirteen paragraphs below Politico‘s misleading headline. “We’re not really experts on the spending component.”
Neither Politico nor the TPC bothered to compare Sanders’ new tax rates, which most adversely affect the richest 0.1 percent of Americans, with the amount of money families would save should Sanders’ proposals become reality.
http://usuncut.com/news/sanders-shoots-down-tpc-analysis-of-tax-plan/