The Tax Policy Center, a nonpartisan research institution, has conducted a thorough analysis and investigation into Bernie Sanders’ proposed plans to overly tax the rich and accumulate benefits to those of the lower and poorer classes. However, the TPC finds these news tax plans would actually add on an exponentially dangerous amount of deficit to the federal budget over the course of a two term presidency.
How much exactly? TPC estimates $18 trillion
Here is the abstract to TPC’s research article:
“Presidential candidate Bernie Sanders proposes significant tax increases that would raise $15.3 trillion over the next decade. All income groups would pay more tax, but most would come from high-income households, particularly those with very high incomes. Sanders would also implement new government benefits—notably government-financed single-payer health care, long-term services and supports, college, and family leave benefits—and expand Social Security benefits. TPC finds the new government benefits would more than offset new taxes for 95% of households but the combined tax and transfer plan would increase federal budget deficits by more than $18 trillion over the next decade.”
The rest of the TPC’s research findings can be found here