Varney: Warren's plans are a 'dangerous game' for the US economy
Senator Elizabeth Warren gives new meaning to that old slogan "tax and spend." Her numerous "plans" are really tax and spend on steroids.
Here's the "education plan" revealed Monday: $450 billion extra for low-income students; $200 billion extra for students with disabilities; $50 billion for school buildings. Grand total: an extra $800 billion worth of spending in ten years. That's a lot of money but there's no new federal spending for charter schools. Gee, I thought they had been successful but the teacher's union doesn't like them, so they're out. Eight hundred billion dollars extra for everything else but charter schools: not a penny.
While we're on the spending side, please remember Senator Warren's "plan" to spend $1 trillion on universal childcare, $600 billion for "free" college and $640 billion on student debt forgiveness. And please, don't let the $32 trillion Medicare-for-all "plan" slip your mind. Senator Warren gives new meaning to the expression "vote buying." Because that's what it is: "Vote for me and look at what I'll give you."
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So how does this all get paid for?
Answer: This can't all be paid for.
Senator Warren wants a wealth tax, higher income tax rates, higher corporate taxes, higher death taxes and she still hasn't told us which tax will pay the trillions for Medicare-for-all. In short, her ideas are economic nonsense.
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And nobody, least of all the socialists, will say what all these taxes would do to the economy. It's a dangerous game: Promise a world you cannot pay for, just to buy votes.