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Bernie Sanders | XLFinancialBlog.com

Bernie Sanders’ Financial Plan: Patching up America’s Inequality Gaps

Posted on 22. Sep, 2015 by in Financial Planning

Bernie Sanders | XLFinancialBlog.com

Bernie Sanders, a Democratic presidential candidate for the election in 2016, is breaking all the rules. A modern-day Robin Hood of sorts, Sanders is leading a crusade against the austerity politics currently governing the state of economic affairs in America. What differentiates Sanders from other like-minded dreamers is his commitment to proving the actual, realistic value of such plans, as opposed to introducing a lofty ideal and leaving the rest of the politicians scrambling to uncover the routes to make it happen. Sanders has a dream, and he has a plan to back up his quest to restore economic equality.

Number Check

How does Sanders see this dream becoming reality? He looks to the European countries of Denmark, Germany, and Sweden for his inspiration, adopting some of their legislation and tax practices into his plan for what he wants to see done here.

1. Financial Transactions Tax

The primary legislation Sanders wants to see put into place is the financial transactions tax. This is a tax well-known in the European sphere, which Sanders hopes to fund free higher education with. Financial transactions tax is a tax targeting Wall Street transactions by investment houses, hedge funds, and other speculators, as well as stocks, bonds, and derivatives.

2. Overhaul Student Loans Programs

Sanders also proposes to drastically change the student loans programs, eliminating the profiteering motive behind most programs and working to expand work-study options to keep costs down.

3. Splitting Banks

Believing them too powerful to be reformed, Sanders wants to dismantle bank giants such as JPMorgan Chase and Bank of America, which hold so much sway that they have become liabilities for the taxpayers themselves.

Sanders is campaigning for further changes such as a minimum wage increase, a progressive tax system, and anti-globalization legislation. Some may claim that his methods and ideas are far too radical for the current age. This is, however, debatable, and the gravity that mainstream attention has granted his efforts may perhaps alter the course of the future of the United States.

 

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