How to responsibly finance Medicare for All.

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Here’s one way Medicare for All could be financed. Let’s go to the year 2017. The U.S spent $ 3.5 trillion on healthcare in 2017. $ 1.5 trillion of that $ 3.5 trillion was financed by the federal government.

Source: https://www.crfb.org/papers/american-health-care-health-spending-and-federal-budget?utm_source=share&utm_medium=ios_app

This means for that year, we would have needed to raise $ 2 trillion in new taxes to have financed Medicare for All at those current spending levels since the $ 1.5 trillion in existing spending would be incorporated into the single-payer system.

Here are some revenue streams below that would have raised $ 2.0491 trillion in 2017.

• ⁠$ 390 billion could be raised a year from a 7.5 percent income-based health care premium paid by employers. An employer’s first $ 2 million in payroll would be exempt from this premium protecting small businesses throughout the country.

Source: https://www.sanders.senate.gov/download/options-to-finance-medicare-for-all?inline=file

• ⁠$ 350 billion could be raised a year from a 4 percent income-based premium paid by households making above $ 29,000. Meaning this 4% tax would only apply to every $ 1 a household makes over $ 29,000.

Source: https://www.sanders.senate.gov/download/options-to-finance-medicare-for-all?inline=file

• ⁠$ 275 billion could be raised a year by implementing the following progressive wealth taxes:

— 2% wealth tax on Americans with $ 50 million-plus in assets. — 3% wealth tax on Americans with 1 billion-plus in assets.

Source:https://www.google.com/amp/s/www.cnbc.com/amp/2019/01/24/elizabeth-warren-to-propose-new-wealth-tax-economic-advisor.html

• ⁠$ 240 billion could be raised a year by implementing a tax on Wall Street speculation (0.5% tax on stock market trades, 0.1% fee on bonds, and a 0.005% fee on derivate trades).

Source: https://www.bloomberg.com/news/articles/2019-05-22/sanders-revives-plan-to-tax-stock-bond-and-derivatives-trades

• ⁠$ 229.5 billion could be raised a year by returning to FY2014 discretionary military spending (2019: 750 billion. 2014: $ 520.5 billion. 750-520.5=229.5).

Sources: https://www.google.com/amp/s/www.thefiscaltimes.com/2019/03/25/GOP-Springs-Surprise-Over-Trump-s-750-Billion-Defense-Spending-Plan%3famp

https://www.nationalpriorities.org/analysis/2014/2014-discretionary-spending-summary/

• ⁠$ 190 billion could be raised a year by reversing the Trump Tax Cuts.

Source: https://www.google.com/amp/s/thehill.com/policy/finance/382319-gop-tax-law-will-add-19-trillion-to-debt-cbo%3famp

• ⁠$ 180 billion could be raised a year by implementing the following progressive marginal income tax rates (These are for single-filers. It’d be double this for married couples):

— 40 percent on income between $ 250,000 and $ 500,000.

— 45 percent on income between $ 500,000 and $ 2 million.

— 50 percent on income between $ 2 million and $ 10 million. (In 2014, only 136,000 households, the top 0.1 percent of taxpayers, had income between $ 2 million and $ 10 million.)

— 52 percent on income above $ 10 million. (In 2014, only 16,700 households, just 0.02 percent of taxpayers, had income exceeding $ 10 million.)

Source: https://www.sanders.senate.gov/download/options-to-finance-medicare-for-all?inline=file

• ⁠$ 134.6 billion could be raised a year by taxing capital gains and dividends at income tax rates.

Source: http://www.pewresearch.org/fact-tank/2016/04/06/the-biggest-u-s-tax-breaks/

• ⁠$ 60 billion could be raised a year by eliminating the pass-through deduction.

Source: https://www.cbpp.org/blog/severely-flawed-pass-through-deduction-is-among-costliest-tax-breaks

As long as the economy continues to grow, most of the revenue streams above will continue to increase, which means there’s a good chance the revenue streams will match or be near the $ 32 trillion cost in new federal spending over 10 years that most studies have determined is needed to fully pay for Medicare for All.

Also, know the above is all assuming there’s no reduction in per capita healthcare spending at all. If the federal government reduces reimbursement rates for: medical devices, prescription drugs, and general care, as well as having $ 100’s of billions in savings from administrative costs that offset increased healthcare demand spending, that will result in less healthcare spending per capita; meaning, we wouldn’t need a revenue stream or two that was outlined in the scenario above if per capita cost of healthcare is substantially lowered.

No one has the perfect answer since the numbers are always changing and healthcare is so complicated in general; however, Medicare for All can be done in a reasonable way. Every other industrialized country has pulled this off in some form or another. The U.S can, too.

submitted by /u/Rickard58
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SandersForPresident: search results – self:yes

Bernie is RIGHT. Medicare for all would save the vast majority of Americans money every single year. The amount you would save from not paying monthly premiums, no co-pays or deductibles would be far more than the new taxes that would fund medicare for all. Never let anyone twist the truth!

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The media and the right always like to whine about how you'll have to raise taxes in order to fund medicare for all.

What they do NOT talk about is the fact that the amount of money folks will save from not having to pay monthly premiums, not having to pay co-pays, not having deductibles, etc. is FAR MORE than the tax increase the average American would see in order to fund medicare for all.

For the vast majority of people, medicare for all would save them money, not cost them.

Never let anyone spew lies. #

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Today I personally experienced why Medicare for All is so important

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Today I was driving home from some errands and had a pretty profound experience. As I was sitting at a stoplight, I looked to my left, and on the side of the street there was a man on the ground shaking terribly. I quickly pulled over, went up to him, held his hand, and asked if he was okay. Apparently he was a drug addict and he told me that he just OD'd and couldn't get up and needed me to help him walk to the detox center that is only two blocks away. I told him I was going to call an ambulance for him.

He looked me in the eyes and slowly uttered the words "Please don't do that, I don't have healthcare."

Here was a man fighting for his own life, barely breathing, barely functioning, dying, and he was concerned about his health care. And the look of complete sadness and devastation in his eyes showed how worried he was about it.

Now, I always sort of laughed medicare for all off thinking it is too good to be true or not doable, but today I saw the necessity of it and why it is so important.

And for anyone wondering, I did call an ambulance and they saved his life on the spot. I live in MN so they have financial options for people like him and he won't be paying anything probably. But just the fact that he was so worried about it even while he was dying was very moving to me.

Just wanted to share that with everyone here and proclaim that I am fully aboard the MFA train, and that I'm sorry that it took something like this to change my mind.

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rules for buying a t-shirt for Canada (where we have Medicare and sincerely hope you guys get it too!)

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How do I go about getting Bernie stuff in Canada? It was already clarified to me by a Bernie texter that I cannot donate when I tried to because I’m not a citizen, but am I allowed to get a t-shirt? All I want is to support Bernie from away and it seems to be hard to get a t-shirt!!

ALSO: is there anything of any use I can do to help the campaign from Canada? I was just in Florida and tried to volunteer and they didn’t get back to me.

FINALLY: I work for a left wing party in Canada, the one that developed and implemented our Medicare system back in the 60s. Like Bernie’s campaign it was considered a radical idea at the time and had to be dramatically forced through in the face of vicious efforts to stop it by insurance companies and a month long doctors strike. But, once implemented, quickly became a cherished national institution. As Tommy Douglas (the father of Canadian medicare) said: “courage my friends, ‘‘‘tis not too late to change the world”

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SandersForPresident: search results – self:yes

Sen. Sanders next time someone asks you if Medicare for all raises taxes say no because you will eliminate the private tax Healthcare companies impose on the people

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I'm worried that when Bernie says he will raise taxes on the middle class it will be used by the media to smear him. Hope you do win the nomination Bernie 2020

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