Medicare for All in her proposal on Friday, Warren unveiled a variety of pay-fors: POINT ONE BELOW IS A RED FLAG FROM THE START, JUST SEND WHAT USED TO BE PREMIUM PAYMENTS, SEND IT TO THE FEDERAL GOVERNMENT
$52 Trillon package health care plan. Wow, how many jobs will be lost and companies close down? These numbers came from a team from the Obama administration. THIS IS CRAZY! This is AOC CRAZY! Warren is nuts! Here below is her pay plan. Look at one right off the top. Government will decide everything. Warren is a pure SOCIALIST. According to her minions:
- Employer contributions: Instead of paying premiums to insurers, companies would send an estimated $8.8 trillion over 10 years to the federal government as an “Employer Medicare Contribution.”
- Taxes on the wealthy: Billionaires would be subject to a new tax of three cents on the dollar on net worth above $1 billion. This is in addition to the wealth tax she announced earlier this year, which would also place a 3 percentage point levy on billionaires. Also, the wealthiest 1% would be taxed on capital gains income annually, rather than at the time of sale, and the capital gains rate would be raised to match income tax rates. Combined, this would raise $3 trillion.
- Reducing tax evasion: Warren argues that she can collect $2.3 trillion by empowering the Internal Revenue Service to crack down on tax evasion and fraud, redirecting the agency’s focus to high-income earners.
- Levies on financial sector and large corporations: Warren would impose a financial transaction tax of .01% on the sale of stocks, bonds and derivatives. She would also make several significant changes to corporate tax law. All together, these would generate $3.8 trillion.
- Taxing additional take-home pay: Since employees would no longer have to pay their share of health care premiums, their take-home pay would go up. This would raise $1.4 trillion.
Ultimately, Warren relied on four prominent experts — in addition to her own in-house policy team — to develop her cost estimate and planned pay-fors. The group included Simon Johnson, the former chief economist at the IMF; Mark Zandi, the chief economist at Moody’s Analytics; Betsey Stevenson, a former member of the Council of Economic Advisers under Barack Obama, and Don Berwick, who served as an administrator of the Centers for Medicare and Medicaid Services in the Obama administration.
Oh yes, going back to the Obama Administration to come up with your plan for funding Medicare for All. Another words a failed proposal; with total BS. It would be virtually impossible to raise funding for a Medicare for All program without hitting the largest, most productive social group in the country; “The Middle Class”.
Remember too, Warren threw this pay plan together rather quickly, she was getting hammered on the campaign trail on how she would fund a Medicare for All program. She had nothing, kept saying, “the Middle Class won’t have a tax increase”. So, she needed something quickly, this is what she came up with or her minions did.
Berwick, in a USA Today op-ed published last week under the headline “Stop fearmongering about ‘Medicare for All.’ Most families would pay less for health benefits.”