Sen. Bernie Sanders is once again calling for extreme tax hikes to pay for his plans, this time for a government-run single payer health care system. The plan will come in at a cost of $1.38 trillion per year and will impose across the board tax hikes, including:
-An income tax rate of 52%
-Taxing ALL capital gains as ordinary income, meaning the current top capital gains rate of 23.8% would jump to 52%
-Massive hike in the Death Tax
-American families making as little as $28,900 per year will face a 2.2 percent tax on their income
-A $630 billion tax hike aimed at employers, which will just end up hitting workers
-Sanders also calls for more tax complexity and more tax brackets: 37%, 43%, 48% and of course the 52%
ATR commends Sen. John Barrasso (R-Wyo.) for asking CBO to score the Sanders plan. As with most left wing programs, the Sanders plan will undoubtedly cost much more than he claims.