Skip to comments.Study: 'Medicare for all' would cost $32.6 trillion over 10 years
Posted on 07/30/2018 8:59:08 AM PDT by SeekAndFind
The Mercatus Center, a libertarian think-tank out of George Mason University, is releasing a study today that will show how much Vermont senator Bernie Sanders's "Medicare for all" idea would cost.
Over ten years: $32.6 trillion.
The Associated Press wants to make sure you read that correctly:
That's trillion with a "T."
The latest plan from the Vermont independent would require historic tax increases as government replaces what employers and consumers now pay for health care, according to the analysis being released Monday by the Mercatus Center at George Mason University in Virginia. It would deliver significant savings on administration and drug costs, but increased demand for care would drive up spending, the analysis found.
Sanders' plan builds on Medicare, the popular insurance program for seniors. All U.S. residents would be covered with no copays and deductibles for medical services. The insurance industry would be relegated to a minor role.
When asked how she would pay for her democratic socialist agenda, which includes the Medicare for all program, Alexandria Ocasio-Cortez made is sound so easy:
"This is an excellent, excellent question," she replied. "I sat down with a Nobel Prize economist last week – I can't believe I can say that, it's really weird – but one of the things that we saw is, if people pay their fair share, if corporations and the ultra wealthy – for example, as Warren Buffett likes to say, if he pays as much as his secretary paid, 15 percent tax rate, if corporations paid – if we reverse the tax bill, raised our corporate tax rate to 28 percent ... if we do those two things and also close some of those loopholes, that's $2 trillion right there."
(Excerpt) Read more at americanthinker.com ...
Socialism quickly spends itself out of existence. Stupid is, as stupid does.....
Billion became the new million quite a while ago. Trillion has now become the new million.
This can’t last.
I’m sure she could sit on the set of some other TV show, and off the top of her head, come up with more trillions she can save and cut out of the budget.
Yep it is so easy to say the Pentagon didn’t ask for another bomber when you want to push socialism.
It’s easy to say the wealthy need to pay their fair share, but fact is, you could have confiscatory tax rates on high incomes and still not have enough to pay for her socialist dreams.
That works out to approximately $1 million per every man, woman and child in this country, PER YEAR!
That can’t be right.
Medicare-for-all is not the only Ocasio-Cortez plan.
She also wants Free-Tuition-For-All, A-Guaranteed-Job-That-pays-At-Least-Fifteen-Dollars-per_hour-For-All, Free-Housing-For-All.
Now, add those to the 32 Trillion Needed for Medicare-for-All and we’re really talking.
When I was working at the UK NHS ( as an unlicensed tech, allowed under law) I was making about $3hour, back in the 80s. My tax bite was 50%. And the brackets went UP from there.
What can I say ? I'm high maintenance
What difference does it make? Our government can print money until it is worthless. Just sop.
at 3 trillion a year for 126 million U.S. households in 2017, that’s a $23,000.00 tax increase per household per year ... not even counting illegal aliens ... of course, almost 90% of households in the U.S. couldn’t come up with that, so either $230,000.00 annual tax increase on the 10% or print money ...
Just one trillion in seconds is one dollar for 32,000 years....hmm I’m sure this can all be paid back by borrowing from the Chinese.
I think 32,600,000,000,000 divided by 300,000,000 is a little over $100,000, not 1 million.
Then divided over 10 years, that would be about $10,000 per person per year.
and would quickly bankrupt the rest of the health care industry that only survives what medicare pays by bringing in patients with commercial insurance. Most hospitals and health systems cannot stay open with what medicare pays.
I divided it by 3 mill instead of 300 mill. You are correct. It does work out to 10 grand per person, roughly.
My bad. I was thinking of that scene in Office space about getting the decimal wrong as I was coming up with my first answer. :)
The funny part is I was a COBOL programmer when that movie came out, and completely sympathized with him.
The other thing to remember when are these studies ever correct?
Look at the studies that estimate maximum Medicare\Medicaid costs! I think all off (too low!) by at least a factor of ten. Look at estimated Zerocare costs and how they turned out when they hit the hard wall of reality.
I think the math would also work if you liquidated all the assets of all of the top 20% and threw them out into the streets. A disproportionate number of them are elderly, but oh, well. The future is for the young.
After 10 years, repeat with the next 20%.
I get a similar number to chaosagent. Around $10K per year.
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