Posted on 10/16/2019 6:36:44 PM PDT by Libloather
Sen. Elizabeth Warren’s refusal to answer repeated questions at Tuesday night’s debate about how she would fund Medicare for All underscores the challenge she faces finding a politically acceptable means to meet the idea’s huge price tag — a challenge that only intensified today with the release of an eye-popping new study.
The Urban Institute, a center-left think tank highly respected among Democrats, is projecting that a plan similar to what Warren and Sen. Bernie Sanders are pushing would require $34 trillion in additional federal spending over its first decade in operation. That’s more than the federal government’s total cost over the coming decade for Social Security, Medicare, and Medicaid combined, according to the most recent Congressional Budget Office projections.
In recent history, only during the height of World War II has the federal government tried to increase taxes, as a share of the economy, as fast as would be required to offset the cost of a single-payer plan, federal figures show. There are “no analogous peacetime tax increases,” says Leonard Burman, a public-administration professor at Syracuse University and a former top tax official in both the Bill Clinton administration and at the CBO. Raising that much more tax revenue “is plausible in the sense that it is theoretically possible,” Burman told me. “But the revolution that would come along with it would get in the way.”
(Excerpt) Read more at msn.com ...
With a 10,000$ deductible.
No problemo. The middle class can pay that.
When you consider that CBO estimates are as a rule at least 30% lower than actual figures those are some pretty scary numbers.
$34 Trillion.
If Warren or the other Lib/Socialists taxed the wealth of the top 100 in America at 100%, they would get just over $1 Trillion. Then what? That ‘wealth’ would be gone and Warren would still need $33 Trillion.
These socialists are so out of touch with reality that it is scary because they have so much public support.
It would be a golden goose for those able to position themselves to collect the eggs. Currently health care is about 20% of GDP.
$34,000,000,000,000.00!
That’s over $100,000 for every man, woman and child in the USA. Over $10,000/year for every person. Over $40,000/year for a family of 4! Of course, just as with taxes, the bottom 40%-50% will pay nothing. So, if you are a tax payer, double that price and bend over...
Well, that’s what we’re spending right now in medical costs! The only question is who pays the bill.
That she is a ‘Professor of Law’ at Harvard tells you everything you need to know about how laughable the Ivy League superiority argument is.
And that is only the first year until costs go up.
Why is our side allowing them to get away with this? Medicare is NOT welfare for seniors. It’s a TRUST. Workers pay into that Trust with every single paycheck their entire lives. Medicare is for workers, not lay-abouts. That they allow Democrats to get away with this without comment is wrong! Stand the heck up, so called leaders.
Thirty trillion here, thirty trillion there, and pretty soon we’re talking real money.
“Over $40,000/year for a family of 4!”
What’s even more fun, is that this is on top of all the other taxes that they already pay. As an added bonus, throw in the “climate crisis” tax that she promises as well.
I find this issue confusing.
America already has universal health care.
If you are seriously ill or injured, you just go to the nearest ER.
If they can’t (or won’t) treat you, they will transport you to an ER that will treat you.
Obviously, not the best system in the world.
But no one is dying in America from treatable diseases or injuries.
Bottom Line - why do we have to pay $34 trillion to Medicare if the sick and injured are already being treated?
Its supposed to cover everyone but that’s not possible without destroying the economy.
Medicaid works but then again, it only covers the poor, disabled and elderly. The question is whether Americans would be willing to pay $34 trillion for more free stuff.
I’m betting the answer is “no.”
l8r
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