Thursday, October 31, 2019
Math is hard!
According to the Committee for a Responsible Federal Budget,
There is not enough annual income available among higher earners to finance the full cost of Medicare for All. On a static basis, even increasing the top two income tax rates (applying to individuals making over $204,000 per year and couples making over $408,000 per year) to 100 percent would not raise $30 trillion over a decade. In reality, a tax increase that large would actually lose revenue because it would institute marginal tax rates above 100 percent when other taxes are incorporated — effectively requiring people to pay rather than be paid to work, earn business income, or sell capital assets.I'm guessing that the requirements for a grievance studies degree don't include mathematics.
h/t: John Sexton.
