Earlier this month, Sen. Elizabeth Warren promised that she'd reveal how she'd pay the $36 trillion cost of Medicare for All some time "In the coming weeks." If she claims that it can be financed entirely on the backs of corporations and the rich, she will be lying.
After studying tax data, it concluded that "Tax increases on high earners, corporations, and the financial sector by themselves could not cover much more than one-third of the cost of Medicare for All.".
The report notes that "There is not enough annual income available among higher earners to finance the full cost of Medicare for All. Even increasing the top two income tax rates to 100% would not raise $30 trillion over a decade."
Adding a 32% payroll tax on all wages, on top of the 15% already imposed to finance Social Security and Medicare.
Nor does the CRFB attempt to figure out how Warren would cover Medicare for All, while also promising nearly $10 trillion in other new federal spending programs.
When pressed for details by CNBC's John Harwood how he'd cover the other half, Sanders would only say: "You're asking me to come up with an exact detailed plan of how every American - how much you're going to pay more in taxes, how much I'm going to pay. I don't think I have to do that right now."
Of course, Sanders and Warren have provided plenty of details on all the goodies Americans would supposedly get under Medicare for All.
https://issuesinsights.com/2019/10/29/elizabeth-warrens-medicare-for-all-claims-are-as-credible-as-her-native-american-heritage/
After studying tax data, it concluded that "Tax increases on high earners, corporations, and the financial sector by themselves could not cover much more than one-third of the cost of Medicare for All.".
The report notes that "There is not enough annual income available among higher earners to finance the full cost of Medicare for All. Even increasing the top two income tax rates to 100% would not raise $30 trillion over a decade."
Adding a 32% payroll tax on all wages, on top of the 15% already imposed to finance Social Security and Medicare.
Nor does the CRFB attempt to figure out how Warren would cover Medicare for All, while also promising nearly $10 trillion in other new federal spending programs.
When pressed for details by CNBC's John Harwood how he'd cover the other half, Sanders would only say: "You're asking me to come up with an exact detailed plan of how every American - how much you're going to pay more in taxes, how much I'm going to pay. I don't think I have to do that right now."
Of course, Sanders and Warren have provided plenty of details on all the goodies Americans would supposedly get under Medicare for All.
https://issuesinsights.com/2019/10/29/elizabeth-warrens-medicare-for-all-claims-are-as-credible-as-her-native-american-heritage/
No comments:
Post a Comment