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From Bret Stephens

Summary:
In October, Brian Riedl of the Manhattan Institute tallied the costs of Mr. Sanders’s policy goals. By his calculations, the federal government would double in size. Half the American work force would be employed by the government, Mr. Riedl writes. Government spending as a percent of G.D.P. would rise to 70 percent (in Sweden, it’s less than 50 percent). The 15.3 percent payroll tax would hit 27.2 percent to help pay for Medicare for All. Total additional outlays would reach .5 trillion on top of the nearly trillion the federal, state and local governments are projected to spend over the next decade. Here is the full NYT column.  #TheGreatForgetting, #moodaffiliation. The post From Bret Stephens appeared first on Marginal REVOLUTION.

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In October, Brian Riedl of the Manhattan Institute tallied the costs of Mr. Sanders’s policy goals. By his calculations, the federal government would double in size. Half the American work force would be employed by the government, Mr. Riedl writes. Government spending as a percent of G.D.P. would rise to 70 percent (in Sweden, it’s less than 50 percent). The 15.3 percent payroll tax would hit 27.2 percent to help pay for Medicare for All. Total additional outlays would reach $97.5 trillion on top of the nearly $90 trillion the federal, state and local governments are projected to spend over the next decade.

Here is the full NYT column.  #TheGreatForgetting, #moodaffiliation.

The post From Bret Stephens appeared first on Marginal REVOLUTION.

Tyler Cowen
Tyler Cowen is an American economist, academic, and writer. He occupies the Holbert C. Harris Chair of economics as a professor at George Mason University and is co-author, with Alex Tabarrok, of the popular economics blog Marginal Revolution. Cowen and Tabarrok have also ventured into online education by starting Marginal Revolution University. He currently writes the "Economic Scene" column for the New York Times, and he also writes for such publications as The New Republic, the Wall Street Journal, Forbes, Newsweek, and the Wilson Quarterly.

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