The Statements: It’s time for college to be free
It’s time for healthcare to be free
It’s time to guarantee housing to every single American Nina Turner 8/15/2022
Question: What tax rate would you suggest for the lower, middle and upper class to reach those results? -A Forum For Ideas
Suggested Answer: 70% tax rate for anyone making more than 10 million a year seems fair. -Sebby
Analysis:
All numbers used are based on 2016 data unless noted otherwise
I. The costs:
A. Universal Healthcare - $2.87 Trillion
In the United States healthcare costs were $3.3 Trillion. Medicare and Medicaid spending equaled $1.2376 trillion. A 2017 study conducted by University of Massachusetts suggests universal healthcare would reduce costs and should cost $2.93 trillion. I adjusted this number for inflation and that number becomes $2.87 trillion 2016 dollars.
Sources: https://peri.umass.edu/publication/item/1127-economic-analysis-of-medicare-for-all
https://www.reuters.com/article/us-usa-healthcare-report-idUSKBN1E031D
B. Free College - $65 Billion
There are numerous numbers outlining the cost of free college. A 2020 article suggested $70 Billion and a 2012 article suggested $62.4 billion Those numbers when adjusted for inflation are $64.5 and 65.4 billion respectively. For our purposes I took the middle position of $65 Billion
C. Guaranteed Housing - 71.9 Billion
I couldn’t find projections as to how much this would cost. In 2016 HUD spent $36 billion on housing. In 2023 HUD is requesting $71.9 for its budget. I decided to use the 2023 request as my number for 2016.
Sources: Budget of the U.S. Government, Fiscal Year 2017, Analytical Perspectives (Washington: Government Printing Office, 2016), Table 29-1.
D. Total Cost of New Programs - $3.0069 Trillion
E. 2016 Tax Situation:
Tax Revenue: $3.3 Trillion
Government Spending: $3.9 Trillion
Government Deficit: $587 Trillion
Sources: https://www.cbo.gov/sites/default/files/115th-congress-2017-2018/graphic/52408-budgetoverall.pdf
F. Impact of 70% Tax Rate - Additional $80 billion in tax revenue
Number of people affected: 16,000
Current collection: $90 Billion
After Tax Increase Collection: $170 Billion
Additional tax revenue: $80 billion
G. Current Government spending - $1.2736 Trillion
Medicare/Medicaid: $1.2376 Trillion
Housing: $36 Billion
Education: Above figures would be additional spending
Results: $2.2403 Trillion deficit for 2016.
Substantial additional tax increases would need to implemented or drastic government reduction in spending elsewhere would be necessary.
“What about Roxane?” Alexander asked.
“Your prisoner bride?”
“Such disrespect is worthy of death!”
“There is no possible way that you could love her or that she could truly love you.”
“What gives you the insight to speak so assertively about matters you know nothing about?”
“Daughter of Oxyarthes, the man who surrendered the Iron Gates to you, makes for a very political marriage.”
“Continue,” said Alexander.
“At a feast celebrating your latest victory a number of young women were brought in for entertainment. You spotted one of them whose beauty far surpassed the others and you decided on the spot to marry her once you learned she was the daughter of Oxyarthes. You needed to cement a strong relationship with the local leaders. What better way to do this than through marriage? You didn’t share a common language and never even spoke to each other beforehand. She never was given a choice. So she is your prisoner bride.”
“You have a vague outline of the past. I suppose it is remarkable that you have as much ...
