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Politicians promise everything, but are unwilling to tell American taxpayers who will pay for these government handouts. With a federal tax system that fails to collect taxes from all Americans, the funding for tuition-free college, universal pre-kindergarten, Medicare for all, and universal basic income are tenuous at best.
Our national debt is $22 trillion-plus. Even with a 100% tax rate on the top 20% of wage-earning Americans, the government would only raise $1 trillion toward debt payment. So, if politicians enact these programs, we would add another $1 trillion for tuition-free college, $1 billion for universal pre-K, $30 trillion for Medicare for all, and $5 trillion for universal basic income on top of the $23 trillion we already owe.
Even with tax increases on all citizens, including those who pay no federal income taxes, the numbers don’t add up. So when politicians promise, be very afraid.
David Biacan
Wahiawa
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