Whoa: Elizabeth Warren’s Proposals Would Cost America $129 TRILLION
Elizabeth Warren’s family history may or may not be replete with wigwams and the colors of the wind, but she has certainly outgrown the non-monetary system favored by her supposed ancestors. Indeed, Warren’s 2020 platform is rife with policies and proposals that would cost America taxpayers an amount of money that would make Squanto blush. According to a new analysis by the Washington Free Beacon, if Warren were empowered to enact her various agenda items, it would cost this country $129 trillion over the next ten years. That’s a lot of maize.
From the Free Beacon:
Sen. Elizabeth Warren (D., Mass.) has backed or proposed plans during her 2020 presidential campaign that total up to $129 trillion in spending over the next 10 years, a Washington Free Beacon analysis shows.
Along with backing the Green New Deal ($94 trillion) and Medicare for All ($32.6 trillion), which total an estimated $126.6 trillion in estimated government spending over the next decade according to various studies, three of Warren’s major proposals alone cost $2.365 trillion: opioids ($100 billion), canceling student debt and offering free public college ($1.25 to $1.565 trillion), and universal child care ($700 billion).
Warren has won praise on the left for saying she has “got a plan” for various issues, and she has proposed an “ultra-millionaire,” 2 percent tax on Americans worth $50 million or more—it rises to 3 percent on Americans worth at least $1 billion—to pay for many of her projects, claiming it will raise about $2.75 trillion over the next decade.
Raising $2.75 trillion from taxing the ultra-rich is quite the goal, but Warren doesn’t seem to understand that when you’re that rich, figuring out how to avoid your tax burden is essentially your second job. And even assuming that she successfully gets that kind of tax package through Congress, and assuming that America’s super-wealthy will gladly fork over the money to pay for her initiatives, that sum still leads her…oh, about $126 trillion shy of the goal.
Left-wing policies always sound great until you dig into the monstrous question of “who will pay for it?” Democrats suddenly scurry like rats on a sinking ship when confronted with that question. Or they get indignant – see Alexandria Ocasio-Cortez’s “the world is going to end in ten years” answer from a few months back. Warren presents herself as a kind of homespun economic genius, but her policies are just the usual Liberal Utopia nonsense packaged in a shiny new box. A shiny, expensive new box.