GAME OVER: New report in Vox outlines the staggering cost of Democratic Socialist proposals

Greg P. | 2:03 PM on August 07, 2018

Hey, it’s Vox so libs have to accept this on the prohibitive costs of Democratic Socialist proposals as 100% true!

My new study @voxdotcom:

The Democratic Socialist proposals would cost $42 trillion over the decade and $218 trillion over 30 years — according to CBO and liberal scores.https://t.co/81yQCrbrNM

— Brian Riedl (@Brian_Riedl) August 7, 2018

Oh, it gets worse. Much, much worse:

Fed spending would immediately hit 40% of GDP, on way to 50% by 2048.

Total govt spending at all levels would eventually approach 60% of GDP – exceeding all of Europe.

— Brian Riedl (@Brian_Riedl) August 7, 2018

And don’t forget the tax increases!

Even with defense huge cuts, it would take a 37% payroll tax (on top of current 15.3%) to pay for this $42 trillion

And don’t forget the surging budget baseline deficits that will require their own 15 percentage point across-the-board income tax hike to close.

— Brian Riedl (@Brian_Riedl) August 7, 2018

And taxes on the middle class would be higher than Europe:

"Taxing rich is not enough. America would need to match or even surpass, Europe’s enormous tax burden on the middle class. There is no evidence that American voters will accept this level of taxation." America might be ready for democratic socialism. It’s not ready for the bill."

— Pradheep J. Shanker, M.D., M.S. (@Neoavatara) August 7, 2018

Note: These aren’t conservative sources getting quoted:

Notable here is that @Brian_Riedl is using nonpartisan or liberal sources.

If you take conservative think tank cost estimates into account, the numbers get FAR WORSE.

In short…this is the BEST CASE SCENARIO…not the worst case.

— Pradheep J. Shanker, M.D., M.S. (@Neoavatara) August 7, 2018