I thought I was sure that Elizabeth Warren was going to be my pick for the Democratic Nomination but now I am having second thoughts. That is what this post is all about.
I saw some details on how Elizabeth Warren plans to fund all of her social initiatives recently and quite frankly they scare even a social liberal like me! She seems unwilling to admit that taxes on all of us will likely go up to some degree as more social programs are instituted. She claims that she can get all the money from the rich! That might sell to some selfish or uninformed voters but I just don’t buy it.
One of the most socialistic countries in the world is Sweden. It happens to also be the one with the happiest population on earth, at least according to most polls taken on that subject. But that is for another post. Sweden’s tax rate is 56% while the US rate is about 30%. That is made up by a federal rate of about 12%, State level taxes of about 11%, Social Security and other rate of about 10%. So, a US tax payer has a little over half what Sweden pays.
I don’t care to do the math but I expect that if mandated hourly pay would go up at least 10% when the healthcare burden is removed from employers. This is complicated stuff on the macro level, so I just don’t think it is possible to do this as a one-step process. It will have to be done piecemeal. It is not so obvious now that Ms. Warren sees that reality. I know she is absolutely committed to giving power back to the average person, but doing it rapidly is not a solution.
I’m sure that once she gets the nomination she would explain in more detail how she plans to approach her agenda. But, I’m not sure I want to wait that long. So, I guess I am back in the undecided category, at least for now. If Micheal Bloomberg joins the race he will get some serious attention here at RJsCorner.