US Democrat Warren unveils plan to fund Medicare for All proposal

Democratic presidential candidate Sen. Elizabeth Warren D-Mass. listens to a question during the question and answer part of her campaign event Wednesday Oct. 30 2019 at the University of New Hampshire in Durham N.H

Warren: Medicare for All plan will not raise middle-class taxes 'one penny'

"Today, Elizabeth Warren showed her plans are more socialist than Bernie Sanders, '" Fleischer, who served in the Bush 43 administration, said on Twitter.

As The New York Times reports, her plan would not raise taxes on the middle class but would impose huge tax increases on businesses and billionaires. But 61 percent of Republicans and 35 percent of independents said they opposed Medicare for All, compared with 16 percent of Democrats.

She said $1.4 trillion would be raised "through existing taxes on the enormous amount of money that will now be returned to individuals' pockets from moving to a Medicare for All system with virtually no individual spending on health care". She vows to eliminate premiums, deductibles, copays and most out-of-pocket costs and to add coverage for dental, vision, audio and long-term care. But on Friday she released a detailed plan showing that another world is possible.

Those would come on top of two proposed taxes that Warren would use for other programs: a $1 trillion surcharge on corporate income, and the repeal of the 2017 Republican tax cuts, which would raise another $1 trillion. Here's the headline: My plan won't raise taxes one penny on middle-class families. "Medicare for All isn't about changing any of that". (For comparison, this post is 380 words.) Allow us to save you some reading time and break down the numbers.

What is Medicare-for-All?

Elizabeth Warren's sweeping proposal to overhaul the USA health-care system could cost Amazon CEO Jeff Bezos $7 billion.

The federal government would become the sole insurance provider for all essential and preventative healthcare. Bernie Sanders, I-Vt., who has said tax hikes on the middle class will be necessary to help pay for Medicare for All.

Sen. Elizabeth Warren has finally released her plan to pay for her health care proposal Medicare for All.

Instead, the plan will be funded by hiking taxes $20 trillion on the top 1% of Americans, employers, major corporations and financial transactions. $400bn from immigration reform? "And it's really hard to value those assets for tax purposes". Warren's plan excludes a payroll tax in favor of the Employer Medicare Contribution, which is potentially less progressive. She hasn't begun to think through the implications of this extreme proposal, but when voters begin to contemplate it, my guess they will vote against her, enthusiastically.

Drug prices will be controlled, with consequences in reduced innovation that will cost lives and health but not appear in a ten-year budget. The differences between the candidates have led to clashes in recent presidential debates.

GREENE: OK, so now she's come out with these details. Warren would want to make this hard, but most likely doctors will have the legal option to practice on their own and charge whatever they want.

In the last round of debates, rivals attacked her for lack of clarity on how she would fund Medicare for All. In addition, a wealth tax may prove problematic for a variety of reasons. "It's right there in the plan and it's fully paid for". Warren also stipulates that state and local governments would redirect the more than $6 trillion they now spend on Medicaid and the Children's Health Insurance Program (CHIP) to the federal government. (His campaign now sells the phrase on stickers.) And Warren wouldn't have been the first co-sponsor to back away from the Sanders bill on the campaign trail, as Senator Kamala Harris says she no longer supports it. Altogether, she believes, taxes on the rich and on corporations would raise an estimated $6 trillion.

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