How Elizabeth Warren's Medicare For All Proposal Works

Henrietta Brewer
November 6, 2019

This report was based on the premise that "Medicare for All" would cost $30 trillion, while Warren is now proposing $22 trillion more in spending.

"The mathematical gymnastics in this plan are all geared toward hiding a simple truth from voters: It's impossible to pay for Medicare for All without middle class tax increases", Biden deputy campaign manager Kate Bedingfield said in a statement. As part of her healthcare proposal, she wants to charge billionaires an extra 6%. Under their plans, an expanded Medicare system would fully cover everyone in the country.

It also represents a political risk, as multiple polls show that introducing a public option for health insurance coverage is more popular than a Medicare for All plan that nearly entirely does away with private insurance. Elizabeth Warren's proposals to pay for Medicare for All and how they compare to financing options identified by Vermont Sen. She is mostly accomplishing this by rerouting the money that governments and employers spend on health insurance to fund the program, as well as decreasing military spending, cracking down on tax evasion and fraud, and taxing Everyone With Money: the wealthy, financial firms, and large corporations.

The basic challenge of Medicare-for-all is straightforward: Giving every American quality health insurance without making them pay premiums would be very expensive - a little under $52 trillion over a decade. That's because Medicare pays doctors and hospitals much less than private insurance. Some independent experts also questioned whether her numbers were realistic.

The result, Jacobs said, would be longer wait times and less access to care, especially in highly specialized fields.

Warren's plan came as the latest New York Times-Siena College poll released on Friday showed she is now leading in Iowa, an early voting state, and is holding a slim lead over Sanders.

Boosting IRS enforcement of tax laws and strengthening tax reporting and withholding requirements would raise another $2.3 trillion to fund the plan, Warren said. Warren also stipulates that state and local governments would redirect the more than $6 trillion they now spend on Medicaid and the Children's Health Insurance Program (CHIP) to the federal government. It is a plan that is doomed to fail and one that our country should avoid at all costs.

"We don't need to raise taxes on the middle class by one penny to finance Medicare for All", Warren said in the plan. The campaign insists it would not lead to higher taxes for middle-class families, but rather would be funded through a host of new tax increases.

"My idea is that instead of these companies sending those payments to private insurance companies, they would send payments to the federal government for Medicare in the form of an Employer Medicare Contribution", Warren wrote in the plan.

Johnson said the estimates used in Warren's plan are conservative on both fronts.

"I would think that hopefully as we emerge into the election year, the mantra will be more, health care for all Americans".

"At the end of the day, the overwhelming majority of people will save money on their health care bills".

"You have to be kidding me", Schultz said. "They're going to go up significantly for the wealthy".

Employers are one of the main sources of revenue in this proposal.

The rest of the new revenue would come from a combination of military spending cuts, going after tax cheats, and slapping higher taxes on Wall Street, corporations and the richest Americans. Taxed at current rates, that would raise more revenue for the government. It's harder to imagine these figures becoming a reality.

Today, I'm releasing my plan to pay for #MedicareForAll.

Over the weekend, Warren and more than a dozen other candidates will be in Iowa, which holds the nation's leadoff presidential caucuses in three months.

Senator Elizabeth Warren has called herself "a capitalist to the bones" and sees no contradiction between that description and her plans for expanding government, raising taxes and increasing regulation.

But it also gives her opponents potential new fodder for attacks. Former Vice President Joe Biden has already come out swinging, accusing Warren of fuzzy math. In addition, his team argues that that almost $9 trillion that employers would pay the government would ultimately hurt workers.

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