The Economics Of Bernie Sanders

65

The Economics Of Bernie Sanders by William L. Anderson, Mises Institute

As the political campaign of Hillary Clinton continues to run aground, Democrats are flocking to the campaign of Bernie Sanders, the self-described “socialist” US senator from Vermont, who has been a fixture in that state for more than three decades. Not unlike the presidential campaign of Ron Paul, Sanders is drawing large, enthusiastic crowds who are very receptive to his message of increased state control of the US economy.

Play Quizzes 4

Obviously, when a person running a campaign based upon socialist principles is drawing attention and big crowds, we might ask just what does Sanders mean by “socialist,” and what would he do if he were elected president of the United States? To better answer that question, I am taking a closer look at what we would call the “economics” of Bernie Sanders.

What Do We Mean by “Socialism”?

Before looking at Sanders’s platform, however, I believe it is important to note that when socialists speak of “victories” in the economy, they are not talking about actual results, but rather political achievements in the forms of laws being passed that mandate certain policies. Whether or not these policies actually achieve what socialists claim will be accomplished is another story altogether, but results are irrelevant to socialists.

This Long/ Short Equity Firm Sees A Time-Arbitrage Opportunity In This Pest Control Merger

PestYost Partners was up 0.8% for the first quarter, while the Yost Focused Long Funds lost 5% net. The firm's benchmark, the MSCI World Index, declined by 5.2%. The funds' returns outperformed their benchmark due to their tilt toward value, high exposures to energy and financials and a bias toward quality. In his first-quarter letter Read More

This should surprise no one because, after all, socialism is based upon political control of the economy. True (or at least original) socialists believe that state agents via the “magic” of their authority should allocate all resources to where there is the greatest need for them. Political representatives, not surprisingly, determine what constitutes the greatest need. The state would take ownership of all factors of production and then wisely determine the needs and how production of goods would fulfill them.

Ludwig von Mises in 1920 in his short work, Socialism (three years later expanded into a book), exploded the socialist myth by pointing out that in a world of scarce resources, economies needed private ownership, prices, profits and losses to determine where resources should be directed. The early years of the “experiment” of the Soviet Union proved Mises correct, and socialists then sought to redefine what socialism actually meant.

In the USSR, and later in China and North Korea, the state took ownership of factors of production, but tried to create a parallel economy by using shadow prices and production functions via the mechanisms championed by Polish communist Oskar Lange, who admitted that Mises had pointed out serious flaws in the original plans of socialists. We also know how that “experiment” turned out, which is why there no longer is a USSR, China has abandoned much of the economics of Mao, and North Korea is a failed state where most people live in grinding poverty.

But people like Bernie Sanders, while maybe not rejecting the old socialism spiritually, nonetheless have embraced a “socialism” in which government takes ownership of large portions of what has been produced by private enterprise and transfers wealth from one group of people to another. A look at the Sanders website spells out his brand of “socialism” that he says is based upon what Nordic countries like Sweden, Denmark, and Norway have done, levying high taxes with governments using that funding for social programs like medical care and other public welfare initiatives.

Secondary Socialism

A number of people have pointed out that the Sanders “program” is not socialism per se, but rather is something based upon socializing the results of private enterprise, or what one might call secondary socialism. The Bernie Sanders regime would take control of some of the produce of private enterprise, as opposed to taking outright control of factors of production, which would remain in private hands. If this reminds one of the fascism of the 1930s, that is because Sanders is promoting a version of the governing models of Germany under Adolph Hitler and Italy under Benito Mussolini.

Of the two, Sanders certainly is closer to Mussolini. Like Sanders, Mussolini called himself a socialist and was a leader in the Italian Socialist Party. Like Sanders, Mussolini decried “profiteers” and the wealthy, and spoke out against political corruption. Like Sanders, Mussolini spoke of a larger “national purpose” and sought to harness nationalism as a political force. Like Sanders, Mussolini sought to impose more and more controls on Italian businesses in order to direct production in a way to satisfy political purposes. Like Sanders, Mussolini built political power by appealing to Italian voters by saying that other Italians were well-off because they had gained their wealth on the backs of the poor.

Having similar economic proposals to Hitler and Mussolini does not make Sanders either of those two men and it is important to emphasize that while Sanders regularly employs the powerful political tool of appealing to voter resentment of others, he is not advocating the kind of genocide that ultimately helped to characterize the fascism of Central Europe in the 1930s and 40s. Bernie Sanders is an economic nationalist, and economic nationalism was at the heart of European fascism, but we do not want to make unwarranted accusations against Sanders, either.

At the same time, I do not want to let Sanders off the hook. He promotes economic nationalism and has built his campaign upon resentment, the kind of which Henry Hazlitt wrote in 1966 in his famous, “Marxism in One Minute.” Hazlitt wrote:

The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community. Always attribute his success to the exploitation, the cheating, the more or less open robbery of others. (Emphasis mine)

As one moves through the website for the Sanders campaign, there is plenty of resentment for others. First, there is the ubiquitous “One-Percent” that is the main focus of the typical Sanders stump speech:

This campaign is sending a message to the billionaire class: “you can’t have it all.” You can’t get huge tax breaks while children in this country go hungry. You can’t continue sending our jobs to China while millions are looking for work. You can’t hide your profits in the Cayman Islands and other tax havens, while there are massive unmet needs on every corner of this nation. Your greed has got to end. You cannot take advantage of all the benefits of America, if you refuse to accept your responsibilities as Americans.

While I would agree wholeheartedly that the US economy is in serious trouble, it is not because of the “greed” of billionaires. It is because the US government, through the Federal Reserve System, has created what David Stockman has called the “casino economy” that has substituted trading of sovereign debt and monetary manipulation for a real economy with interest rates that reflect actual economic fundamentals. Like the Bush and Clinton administrations before it, the Obama administration has promoted political entrepreneurship and demonized market entrepreneurship.

Bernie Sanders’s List of Recycled Twentieth-Century “Solutions”

Americans are not jobless because some people are not paying “their fair share” of taxes; they are jobless because the US government insists on directing resources from higher-valued uses to lower-valued uses, as determined by consumer choice. They are jobless because Washington insists on remaking the economy in its own image, and there is nothing in the entire Sanders campaign that would change any of the things that vex the US economy the most.

So, what does Sanders propose to “revitalize” the US economy? Here are some things listed on his website:

  • Raise taxes on US corporations (ironically, corporate tax rates in the Nordic countries are substantially lower than current corporate taxes in the USA, something that has escaped Sanders’s notice);
  • Raise the minimum wage to $15 an hour;
  • Expand the reach of labor unions and vastly expand their membership;
  • Make it illegal for US corporations to manufacture goods abroad, and then sell those goods in the USA;
  • Impose new taxes on financial transactions;
  • Spend at least a trillion dollars on building and repairing roads, bridges, and utilities;
  • Create a “youth jobs program” in which unemployed young people are given government-sponsored jobs (Sanders sees no connection between high minimum wages and youth unemployment);
  • Enact “equity pay” that will “guarantee” that women are paid the same as men for comparable work;
  • Break up banks and financial institutions;
  • Enact a Canada-style single-payer healthcare system;
  • Provide free tuition for all public colleges and universities;
  • Expand Social Security benefits;
  • Require businesses to provide 12 weeks of paid family and medical leave, at least 10 days of paid vacation a year, and seven days per year of paid guaranteed sick leave.

Notice that there is nothing in the Sanders platform that calls for “nationalization” of the means of production, nor does he propose to do away with the price system. In other words, Sanders’s vision of socialism is not what Mao or Trotsky or Lenin proposed, yet there is not one thing in the entire platform that would reverse the dangerous economic trends of the past decade.

Instead, Sanders proposes to direct huge amounts of resources in the direction of constructing something akin to a European welfare state. To put it another way, Sanders wishes to “turn back the clock” to create or promote social and economic structures that already have been undermined by the modern “sharing” economy.

If one reads Sanders’s platform from another perspective, it would be the New Deal. Indeed, there is nothing Sanders has written or said from the stump that would not be reminiscent of a New Deal rally (with the possible exception in appealing to black Americans, which was not part of the Democratic Party agenda in the 1930s, as well as Sanders’s appeal to furthering the Sexual Revolution). Bernie Sanders pushes an economic agenda that is frozen in time.

The problem, economically speaking, is that Bernie Sanders proposes nothing that actually would enable entrepreneurs to help bring about a true economic recovery. In Sanders’s world, entrepreneurs are parasites and employers are oppressors who seek to harm their employees, and wealth is defined by how much governments have in their treasuries.

If I could put the economics of Bernie Sanders into a nutshell, it would be this: Burden private enterprise with one directive after another, and then demonize it when it ultimately falls down under the awful weight of taxes, higher costs, and mandates. While many people believe that instituting the Sanders economic agenda would help turn the USA into another Sweden or Denmark, the more likely outcome would be turning this country into another Venezuela.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.

No posts to display

65 COMMENTS

  1. No. I mean to say that we help the needy already. We cant give people everything they want all the time simply because it garners votes for politicians. I work hard and when the government rips more money out of my pocket to help someone else it takes out of my families mouths. I give to charities and help people out on my own as much as can and I don’t want the government forcing me to give more and more and more just because people vote for them when they give them freebies. Government is the worst at redistributing funds. They are very inefficient and there is no accountability. Let me give you a couple examples. In my state a family of 5 gets over $600 a month in food stamps and such while my family only spends about $450 a month. How come the people getting MY tax money get more than my family does? Also there are many families not only getting $600+ a month but they also get free breakfast and lunch. If my kid forgets his lunch and doesn’t have any money in his account then he gets a cheese sandwich while the kid next to him gets an entire hot meal for free from our tax money. We already give people food stamps and other support why free breakfast and lunch… they should be using the money we already give them. Government needs to leave charity to charities and stop using it as vote buying scams. We don’t have enough money to pay our bills as it is and we are already taxed out of our ears.

  2. Do you mean to imply that the American poor are poor because they do not “save money” as well as the rich do? I thought conservatives were supposed to couch their ideology in terms of productivity and hard work, not mere frugality.

  3. Yes, I had high hopes for the article until it repeated the canard of mentioning Mussolini’s socialist credentials as a young man without bothering to mention that Mussolini and the Italian socialists had a particularly nasty breakup several years before he became Prime Minister. Fascist Mussolini and his policies were very different from socialist Mussolini’s ideals.

  4. Interesting read. I would be curious to hear you elaborate on why Sanders’ policies could not produce results similar to current economic conditions in Sweden or Denmark. What exactly leads you to believe we would become another Venezuela? Sanders’ proposals do not remotely resemble what Chavez and others have done in Venezuela in recent decades, and the current U.S. political culture and climate is just about as far from Venezuela’s as a western democracy could possibly be.

  5. Mises institute, huh? Does anyone realize that Ludwig von Mises was a handpuppet of the DuPont family that would have been a footnote in economic history, largely dismissed as fringe, if the ultra-rich weren’t looking for intellectual fodder for the Keynesian model?

    I can hardly take any stock in what anyone from the kook subset of econ agit prop has to say. Then again, anyone looking to compare a grumpy old Jew from Vermont with Hitler or Mussolini isn’t going to be very bright or well-hinged.

  6. SO by your reasoning, we should ship everything to China, because it is cheaper. Thing about that is, then no one will have jobs, and no one will be able to buy any of it, while our country goes down the tubes. I’m thinking your a business owner that ships jobs overseas…

  7. I was not talking about small and medium business but big corporate business. These are the companies and people Bernie wants to start paying their fair share. When 25 hedge fund managers earn more money last year than 145,000 teachers combined and pay less than 12% IN tax’s there is something wrong…that is a rigged economy

  8. Prices going up does not lead to more demand, it leads to less demand. Even if those people get the Chinese workers jobs back they will be paid a very low wage and will not be able to afford what an 83% increase in labor costs would do to the economy. An American made Iphone would cost roughly $2,000 a almost 70% increase. That is just to make not even to sell the product. Imagine how Americans would prosper if clothes, furniture, and car parts all increased by upwards of 70-80%.

  9. Now which Bernie Sanders are you talking about?
    Bernie Sanders, the Independent senator from Vermont.
    Bernie Sanders, the contender for the Democratic presidential nomination.
    Bernie Sanders, the Soviet flag waver. During his decade in office he proudly displayed a Soviet flag in his mayoral office.

  10. Then costs will go up, but there will be people paid with that cost, thus adding jobs, and adding people that can afford those items. You cant just ship everything overseas because it is cheaper, thus taking away jobs where people cannot afford those things to begin with. Then you just have what we have now… A lot of rich, complaining about the poor and jobless getting food stamps, because the rich sent their jobs overseas. It is a fact that wages and jobs have been stagnant for over a decade, while profits have been thru the roof…

  11. You are right their are issues with the American labor force but you don’t fix problems with solutions that will create even worse problems. You didn’t answer my question. If there is an 83% increase in labor costs for every single product we purchase here in America what do you think will happen to prices here?

  12. Even my kids hate socialism. I told my daughter she had to start giving my son half her allowance because my son doesn’t save money as well as my daughter does. Needless to say she didn’t like that very much. Leave charity to charities.

  13. Who ever wrote this article is a complete moron. Its all opinion and no facts, shame on Yahoo for posting this to there front page.

  14. Hm. In the US 30 years of deregulation of especially the banking industry and a shifting of the tax burden form those most able to pay to those less able to pay, who are rapidly becoming those least able to pay, have led to income inequality recalling the worst of the Gilded Age, prompting Republican calls for –wait for it–more deregulation and tax cuts for the rich!
    So who’s actually indifferent to real results?

  15. You surely know it all. Bernie Sanders is talking about socialism and you tell us, that socialism has got to do with political control of the economy and there are no actual results.

    So you want to tell us, that we must forget about socialism? There is socialism in Europe. And now you are telling us, that it is no good? Germany is a socialistic country and a powerhouse.

    You made a reference to Adolf Hitler. You called him a fascist. Did you know Adolf Hitler or are you repeating what the Jewish USA propaganda is telling you? Mind you. Hitler’s party was a socialistic party.

    Let me tell you more about Adolf Hitler. The Jewish USA propaganda is not talking about it. Of course not. They want you and everybody else to believe, that he was a real evil person.

    Adolf Hitler became Bundeskanzler in 1933. As he took over inflation was sky high and more than six million Germans were unemployed. It took him three years to turn it all around.

    After three years Germany was a very strong economy. It was the best economy in Europe. In fact many Europeans went to Germany to find a job. They could not find a job in their own country.

    Now you have presidential elections in the USA. Don’t you think it would be fantastic if you had a candidate, that could do what Adolf Hitler did in Germany? Or do you think unemployment is OK?

    You called Adolf Hitler a fascist. Are you thinking, that he started the Second World war? Very good. That is what the Jewish USA propaganda wants you to believe. But that is not how it is.

    Your president, Franklin D, Roosevelt, wanted a war with Germany and Japan. He had secret meetings with representatives of England and the ambassador of Poland. One day everything comes out.

    Congress and the Senate did not learn about these secret meetings. If they had know, than they would have impeached Roosevelt. Because the meetings took place as the USA was till neutral.

    Adolf Hitler did not want a war. After invading Poland he made peace proposals to England. But Churchill ignored them. He wanted to destroy Germany. That is what he said in 1938.

    After England and France were defeated Adolf Hitler made several peace proposals to England. But again Churchill ignored them. He still only wanted to destroy Germany.

    General MacArthur learned of Franklin D. Roosevelt’s death. He said: “Well, the old man has gone, a man who never told the truth when a lie would suffice.” And you see Roosevelt as a hero?

  16. Sanders is not a socialist of any type. He is a social liberal aka welfare liberal. Research social liberalism and T.H. Greene.

  17. Sounds more like social-welfare liberalism to me than any type of socialism. Welfare liberalism or social liberalism is the ideology of T.H. Greene. Social liberalism seeks to use taxation to increase equality of opportunity while maintaining respect for private property. Even in the social democracies of Scandinavia, there is some state ownership of the “major” means of production whether it is partially or entirely owned.

  18. After the great recession and coupled with a shrinking middle class whose standard of living is going down, no one should surprised of the popularity of Sanders messages. A decent standard of living, good jobs, access to good medical care and education are good foundations to build a strong and effective and politically stable society. All Sanders is doing is preaching common sense and decency. The ultra wealthy don’t see that way and are continuing to accumulate wealth without regard for others. This disregard is one of the reasons creating the political instability we see in the country today. If we aren’t careful we will accomplish what are enemies have been unable to do so far. By defeating ourselves.

  19. Bernie Sanders on democratic socialism in his own words:

    “I mean, to me, it means democracy, frankly. That’s all it means. And we are living in an increasingly undemocratic society in which decisions are made by people who have huge sums of money. And that’s the goal that we have to achieve.”

    “I happen to believe that, if the American people understood the significant accomplishments that have taken place under democratic-socialist governments, labor governments throughout Europe, they would be shocked to know about those accomplishments,” Sanders said. “One of the goals of this campaign is to advance that understanding.”

    “It means the government has got to play a very important role in making sure that as a right of citizenship, all of our people have healthcare; that as a right, all of our kids, regardless of income, have quality childcare, are able to go to college without going deeply into debt; that it means we do not allow large corporations and moneyed interests to destroy our environment; that we create a government in which it is not dominated by big money interest,” he said.

    “I think people will understand that what I am talking about are some of the programs that exist in countries like Denmark, Finland, Norway, Sweden, where a health care is a
    right for all people and they do it much more cost effectively than we do.

    Where the cost of prescription drugs are substantially lower than it is in our country. Where college education is either free or very, very inexpensive. Where retirement benefits are strong. Where you have governments which actually, radical idea as it may seem, represent the middle class of those countries rather than the billionaire class.”

  20. There aren’t enough members of the electorate with IQ’s above 50 to elect Bernie. The idiots deserve The Donald.

  21. He’s an old hippie and he don’t know what to do, should he hang on to the old, should he grab on to the new….lol

  22. Yeh Bernie has it going with all free stuff he is offering. No wonder he is gaining on Hillary, he has more free stuff in mind. One thing though, when a Democrat gives you free stuff, you have to really read the fine print.

  23. Why the need to quote Mussilini and Hitler when Sanders is a Jew? Why didn’t you quote leaders from Scandanavia or Germany, the models Sanders clearly basis his models on. Why? Because you have a horrible bias and simply want to smear his name, whether you realized this or not.

    Roads are socialist, regulations, firemen, FDA, 40 hour work week, etc. Sanders’ socialism is more in line with ensuring government protects and gives to America where the “free market” cannot. College is incredibly important to a merit based culture, and thus should not be limited by the pocket book. We are currently subisidizing 40 hour work weeks on minimum wage with food stamps and welfare. Raising the minimum should get most off. I’m sorry, but this was a terrible article that was unfair to Sanders and simply reeked of fear and bias.

  24. A fairly accurate explanation with regard to some of the history of socialism, although this left out many of the atrocities done in the name of socialism. As far as how close to this Bernie Sanders would take America that is something America should not venture to find out. America has enough problems and expanding socialism would add to those problems. The very fact that socialism is being promoted and legislated is a govt admission of failure to realize the full potential of capitalism. Govt appeasement of the masses with socialistic leaning programs is a tool of the elite to keep the masses in check while they profit and prosper upon the backs of the masses so appeased.

  25. The last thing America needs is more govt control of anything. Govt has already made a mess of so many aspects of America. Govt can’t even effectively stop the over 300 billion a year in fraud that the DOJ says is taking place with Social Security, Medicare, Medicaid, welfare, and Obamacare. EPA causes a major pollution event while putting forth regulations that will steal control of millions of acres away from farmers. They spy on us, increasingly deny our freedoms, fail to enforce the laws they don;t like while over using laws they do like. Bigger govt is self destructive for a nation. Just look at Venezuela to see where the US would end up under more socialist expansion.

  26. The author doesn’t know what Democratic Socialism is. It differs from Marxism on principal, and is more like Capitalism than what we have now in the US. In Democratic Socialism, Everyone has a say in the economy, everyone pays their fair share, and the people benefit from this. It is not wealth redistribution for a poor man to make enough to live on working 40hrs a week, its common sense. It is wealth redistribution for the man to work 60hrs and find he can’t live on that pay without government assistance. Market Based Capitalism relies on Democratic Socialism to be there so that the wealth is not concentrated in any one economic position. If everyone can afford to live on their own without assistance, and consume products which create jobs, the country would be better off.

    Sanders is the most sound mind of any of the candidate. His idea of battling poverty is not to give the poor more money, but to help them out of poverty by creating a road to success. Schooling mostly. Conservatives say minimum wage workers should go to school to get out of their position (but won’t suggest how to pay for it), Well Bernie has a plan. With Sanders, we will get back to the point when Minimum Wage jobs were just for people just entering the work force or high school students. If everyone can afford college to pursue a degree without being buried in debt, we can have a whip-crack smart population, creating jobs and moving America into the 21st Century. I trust Bernie with my money than Trump who has proven to be bad with his own money (Been bankrupt 4 times)

  27. I don’t think it’s as much about the tax rate as it is about the loopholes and the unregulated banking system in this country……you can make the numbers look any way you want when you cheat…..

  28. posted by guest post………that says it all………The one thing I want to see in this election cycle is someone who will
    stand up for me in Washington and repeal Citizens United and try and get
    the outlaw banks and Wall Street back under control…….as far as I
    can tell the only one committed to those two items is Bernie
    Sanders…….I have scoured through voting records and watched hours of
    videos of several candidates…….. I have done my homework………when I
    watched the videos of Bernie taking on Alan Greenspan and Ben Bernancke
    that’s when I knew who I was going to back..

  29. I did read it, and I understand your point. Thing is, most people don’t make that kind of money, so they have no money to spend. That was my point.
    People without jobs can’t make a living though, and end up on welfare. Even those working for Walmart are mostly on welfare. So do you propose letting everything be made overseas, and basically let people live on the street here? Even the company I work for is now having more and more things made in China, and cutting more jobs. Pretty soon, there will be nothing but service industry people, and rich people here. If no one can afford to buy the products, businesses go out of business. If no one can afford homes, then none get built, and we have another housing crash. It’s a catch 22.
    So why help the Chinese, instead of Americans? I understand it costs more to make things here, but giving tax breaks to companies that ship jobs out of the country, only makes the situation worse. I don’t know what the answer is, but what is happening now, is not working, or helping Americans.
    Maybe if it never started, things wouldn’t be as bad as it is now, but hindsight is 20/20 they say.
    Most things made in China are things people can live without, and are poorer quality.
    Bringing jobs back home, is a start. Shipping more jobs out, always hurts more. It’s time to bring the jobs back.

  30. You are also missing the point if I just take your number that is an 83% increase in costs to the company. What do you think every company would have to charge Walmart to sell their product if their cost of producing the product raised 83%. Do you think prices would increase?

  31. Just google any article talking about average Chinese factory worker wage to average American factory wage. You clearly didn’t read my entire post because I said this includes everyone as well as the entire cost of employment. You know your hourly wage isn’t all that company pays to keep you employed. Most companies pay 40% more than an employees ie. taxes, health insurance, workman’s compensation, uniforms, and paid time off — along with soft costs like the time spent training a new hire (CNN google “all costs to keep an employee).

  32. Right I get that but your statement above is completely wrong that we have a lower corporate tax rate than every European country. You are talking about two different things in your 2nd statement as well. Corporate and personal taxes are different animals all together. Yes, GE can pay 0% but that doesn’t mean a small/mid and even large business doesn’t pay 39% once they hit certain thresholds. Don’t spread misinformation to fit your narrative.

  33. I don’t know where you get your info, but most factory workers make less than 18 bucks an hour, except for management. For the 99 percent, 50k a yearis average. I’ve been in manufacturing of 25 years.

  34. “The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community. Always attribute his success to the exploitation, the cheating, the more or less open robbery of others.” Pretty much sums up the rhetoric we are hearing from Lizzy Warren and Bernie Sanders….A Socialists is a Socialists no matter what country they are from.

  35. Who wrote this BS? It sounds like the guy just crawled out of Rush Limbaugh’s a… anatomy! William L. Anderson is a professor at the Mises Institute… a ‘libertarian’ organization that is entirely devoted to corporate capitalism at its worst. The article as written is loaded with objectively false information and the number of logical errors are mind blowing coming from a a guy with a Ph.D. The charge that the ‘whole gospel of Karl Marx’ as written in the article isn’t even close. Marx wrote at a time when every country in the world except the US was owned and operated by aristocracy… there wasn’t even a ‘capitalism’ then as we know it now. Yikes…this is really creepy!

  36. Yup… we’ve been doing it for decades in the form of corporate subsidies, bail-outs and tax cuts that let GE pay zero in taxes, and Facebook net a 4 million dollar refund.

  37. 1in4 fortune 500 companies paid 0 in tax’s last year….you are sadly mistaken. Companies such as Boeing, GM, GE, Verizon, Exxon and many others actually paid negative tax rates, that is they recieved more in subsidies than they would have paid in tax’s. THe 39% top personal tax rate does not apply to big business as they have systematically bought congress and the senate to allow more and more tax breaks and loopholes for themselves. The carried interest tax, repeal on the estate tax, and a ton of other breaks now ensure that the wealthy pay much less in tax’s than your average person of small businessman. Warren Buffet even admitted recently that his effective tax rate was less than 10% while his secretary was taxed at 38%

  38. The average factory worker in China makes about $3.00/hr. In Indonesia it is like $.75. The US is around $35.00. Prices would rise to insane levels if those products were made here. Before you ask how does a line assembly person make $35.00/hr they do not the average includes everyone working in the warehouse ie. managers, supervisors, QA, ect.

  39. keep it up idiots vote against you own interests half these righties who mouth off on the internet like avenger3 are on the government morons to the revolution

  40. This was one of the most asinine articles I’ve read trying to explain, with lies and innuendoes, what Sanders believes. For example, the 1% comment was around long before Sanders threw his hat in the ring. Clinton is now speaking about income inequality and taking from Wall St, which she’ll never do with the amount of money they are paying her. Get a grip writer – a go back to journalism school.

  41. You would have to be as crazy as this idiot (Bernie) to actually vote for such a thing in America. Everything that is good about this country would be destroyed by this idiot. Everything that has made us the best place to live on planet earth would come crashing down if this fool was elected. Its bad enough that the moron in the white house right now demonizes success, but this takes it to a whole new level.

  42. Where are you getting your information? America has the 3rd highest corporate tax after Chad and UAE. Europe on average has about a 22% tax rate compared to ours at 39%.

  43. The only European nations that have lower corporate tax rates are Britain, France, and Germany. ALL of whom are seeing massive cutbacks in social programs AND are also seeing massive protests to re-institute the tax’s on the rich and powerful to restore social programs. The American plutocrats are not alone in their infiltration of national politics.

  44. But it would also create a lot of the jobs that got shipped overseas to begin with. And what would be bad about an educated country? That would be a huge plus on our part.

  45. i wonder if this guy realizes Sanders is Jewish? its usually not cool to compare Jewish people with Hitler on any level. the economic comparison is terrible but even if it wasn’t, not cool. imagine if the article was about the Israeli PM instead of Sanders. whatcha think people would call the author?

  46. ValueWalk is that like Values Voters? People are catching on to the greed of American corporations and their bought and paid for flunkies in congress. The change is coming. FEEL THE BERN!!!!!!!!!!!!!!!!!

  47. Why don’t you respond to the points in the article. Just saying it is a hack piece doesn’t really add to the conversation. Yes, what you quoted that Bernie said was great rhetoric but also there are consequences for those actions like outlawing US companies to manufacture abroad and sell to the US. Since the US buys the majority of its goods from overseas that would mean prices here would dramatically increase devastating a lot of people’s standard of living.

  48. Good attack piece, hack writer!

    ” You can’t get huge tax breaks while children in this country go
    hungry. You can’t continue sending our jobs to China while millions are
    looking for work. You can’t hide your profits in the Cayman Islands and
    other tax havens, while there are massive unmet needs on every corner of
    this nation. Your greed has got to end. You cannot take advantage of
    all the benefits of America, if you refuse to accept your
    responsibilities as Americans.”

    That sums it up nicely…

  49. If giving abled Americans a chance at a better education doesn’t equate to a better economy..i’d gladly point to other countries who made that a reality who thrive economically population-wise.

    Does S. Korea/Japan/Nordic countries have better quality of life for most of it’s citizens…unlike 3rd world countries where most of population is illiterate?

    Privatizing higher education and healthcare are why America is falling farther behind most industrialized nations and most experts agree. An uneducated and sick nation is a weak nation. Google that.

    Also…if we see income inequality growing with shrinking middle class..why is making it easier for businesses to fire and pay low wages, wall street/banks to predatory loan gamble 401(k) deposits, giving more tax breaks to wealthy (ie keeping status quo after 2008 financial collapse) going to improve that? Please explain author.

Comments are closed.