Bernie Lie #6,327 | "We'd solve homelessness by taking all of Bill Gates' wealth." Fact Check: FALSE
Don't say Bernie Sanders has never created a job. He's created one: My job of disproving his continuous lies for BernieLies.com
Senator Sanders decided to take aim at Bill Gates yesterday. Why Bill Gates of all people? Gates is well known for being a great philanthropist. He and his wife have paid more in taxes than anyone in history, and they've also given more to charitable causes than anyone in world history. $10 billion in taxes, and over $45 billion to charity.
Sanders has one problem: He wants to distribute the money through the US Government, not through charitable organizations.
Yesterday Sanders made this insane statement on Twitter, which is exactly where one would go to make insane statements.
Presidential hopeful, Bernie Sanders, decided to make the claim that if we took $100 billion from Gates, we'd be able to solve homelessness AND provide safe drinking water for everyone. While he might be right on the drinking water (emphasis on "might"), he's far from right about the solution to homelessness.
On a given night in the United States, there are 550,000 homeless. Let's be clear: That's a tragedy, and we should allow for a society that can solve this crisis. If Sanders wants to use the 550k statistic, then we could expend $181,000 per homeless individual. That would certainly solve the problem for those individuals, for a certain amount of time. Remember, those people would have continued expenses after the initial investment.
The problem with Sanders "logic" is that while there are 550,000 homeless on a given night, there are actually 3.5 million people that become homeless throughout the year. Solving the problem for one snapshot of 550,000 people leaves about 3 million others without any help in alleviating their homeless problem throughout the remainder of the year.
So if you wanted to "solve" the homelessness problem in 2020, you'd have to allocate money to 3.5 million individuals. In this case, Gates' $100 billion would come out to $28,571 per individual. Of course it's important to note that the average cost to build an apartment unit runs around $62,000 from start to finish. Keep in mind that that is inside of a private market, where builders are generally more cost adverse. In a government funded market, you'd expect to pay 50-100% more per unit after red tape, budget fights, and fraud.
Let's say we do get the units built..
Okay so we'll ignore basic economics and assume the units can be built, furnished, and continuously supplied with electricity and water. What about in 2021? You would again have another 3.5 million people that become homeless over the course of the year. What Socialists like Bernie forget to plan for is .... the future. Now you've taken all of the wealth of one of the world's wealthiest individuals. So maybe in 2021 you take all of Jeff Bezos' wealth. Then in 2022 you take all of Warren Buffett's wealth. How many years until there is no more wealth to steal, and you still need to solve a homeless problem faced by all new homeless individuals?
Keep in mind that we're totally ignoring what had to be done to liquidate this wealth so it could be given to the government. Bill Gates would have to sell his entire stake in Microsoft. Jeff Bezos would have to sell his entire stake in Amazon, but to whom? If you're selling off the wealth of the world's richest individuals, who's going to have the capital to buy the shares in their companies so they can pay off the government?
I'll leave you with a couple more thoughts
We've already taxed and spent $27 trillion on the "War on Poverty." That's 270X the amount of money Bernie is saying could "Solve homelessness." You'd think that if this were possible, we'd have done it already.
Lastly, Bernie says that $100 billion could solve homelessness, but we currently run a $1 trillion deficit every year. And $100 billion? The government spends that much money in less than 9 days.