DELANEY: I think wealthy Americans have to pay more. Listen, I grew up in a blue-collar family. Became a successful entrepreneur. And I've done well financially. I think I should pay more in tax. I think wealthy Americans should pay more in tax. But we have to have a real solution: raise the capital gains rates. There is no reason why people who invest for a living should pay less than people who work for a living. That's ridiculous. It's the biggest loophole in our tax code. That's how we get more revenues from wealthy individuals: we roll back the Trump tax cuts to wealthy individuals. I think the wealth tax will be fought in court forever. It's arguably unconstitutional. And the countries that have had it have largely abandoned it because it's impossible to implement.
DELANEY: The bill that Senator Sanders drafted, by definition will lower quality in healthcare, because it says specifically that the rates will be the same as current Medicare rates. And the data is clear, Medicare does not cover the cost of healthcare, it covers 80% of the costs of healthcare in this country. And private insurance covers 120%, so if you start underpaying all the healthcare providers, you're going to create a two tier market where wealthy people buy their healthcare with cash, and the union people will have that healthcare plan taken away; they will be forced into an underfunded system.
SANDERS: Hospitals will save substantial sums of money because they're not going to be spending a fortune doing billing and other bureaucratic things.
DELANEY: I've done the math, it doesn't add up.
I'm the product of the American dream. I believe in it. I'm the grandson of immigrants, the son of a construction worker. My wife April and I have four amazing daughters. I was the youngest CEO in the history of the New York Stock Exchange, created thousands of jobs and then served in Congress. That's the type of background -- and my platform is about real solutions, not impossible promises, that can beat Trump and govern.
The above quotations are from Democratic candidates debate in Detroit Michigan, July 30-31, 2019.
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