Can the wealthy tax pay the Bernie Sanders Medicare for All plan?

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The Democratic presidential candidate 2020 told the audience at a public meeting of Fox News in Pennsylvania that his plan would save most Americans money because it would eliminate bonuses, deductibles and the share, which cost a typical family of four $ 28,000 a year.

"But does that mean that you will not pay for something? Of course you do. You will pay more taxes," said Sanders, an independent independent caucus with the Democrats., said at the town hall on Monday. "But in the end, the vast majority of people will pay less for health care because they do not pay premiums, co-payments and deductibles."

Health care dominates the debate over the 2020 elections as Democrats are divided on the opportunity to aim high with Medicare for All or to adopt a more moderate approach. At the same time, President Donald Trump and Republicans believe that the concept of universal health care is too expensive and would compromise the current Medicare program for seniors.

Sanders has not exhaustively analyzed the cost of this diet – which he reintroduced last week with extended benefits for long-term care – that will be expensive – or how he will pay.
Analyzes conducted by different think tanks on its previous proposals suggest that the price could reach $ 32 trillion over 10 years.

The Committee for a Responsible Federal Budget examined Sanders' plan for the 2016 presidential campaign, which included a series of taxes on the rich and all Americans. The proposal would cost $ 25 trillion over a decade, but would only raise $ 11 trillion in taxes, said Marc Goldwein, senior policy director at the committee.

"His plan still does not work," said Goldwein in an interview with CNN.

The other major health insurance bill for all – a very similar initiative sponsored by Pramila Jayapal, a Democrat from Washington in February – also does not have a funding plan. Neither one nor the other should go far in the current congress.

Any other proposals to expand health insurance to young Americans or add a government plan to the exchanges of the Affordable Care Act would be largely paid for by the premiums, as the current insurance plans are.

Bernie Sanders will unveil the new Medicare bill for everyone as the party gathers around Obamacare

In its deployment This month, Sanders has provided a list of potential income enhancement options, including new taxes, which he calls "income-based bonuses," for individuals and employers.

Americans would pay 4% of their income, exonerating the first $ 29,000 for a family of four. Companies pay 7.5% of their payroll, with the exception of $ 2 million to protect small businesses.

These are higher amounts than Sanders proposed in his 2016 presidential race. At that time, he demanded a new income tax of 2.2% on all Americans and a levy of 6, 2% on employers to finance Medicare for All.

Sanders, however, would also increase the taxes of the rich. He wants to raise the maximum rate of income taxation to 70% for those whose income is over $ 10 million, increase rates on unearned income, such as capital gains, and limit deductions. for the richest.

In addition, it would establish an "extreme wealth" tax and raise the maximum inheritance tax rate to 77% for inheritances over $ 1 billion. It would also impose fees on major financial institutions.

A spokesman for Sanders did not immediately return a request for comment.

Tax experts, however, say that you can not raise enough money by taxing the rich and that the levies on all Americans could outweigh the savings made by more people than Sanders thought. This may be particularly the case for low-income people who benefit from highly subsidized coverage on Obamacare scholarships.

"Generating the kind of income that Sanders is talking about to pay for something as big as his version of Medicare for All … would be much more expensive than any type of subject he's talking about," he said. said Howard Gleckman, senior member of Urban-Brookings Tax Policy Center, a non-partisan think tank. "He will have to find more money from somewhere.

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