closevideo what is the true cost of Medicare for All?
Juniper Research Group’s founder and CEO, Chris Jacobs breaks down the costs.
Sen Bernie Sanders, I-Vt., is given Tuesday, how he would pay for his “Medicare for All” program, which critics have sharply criticized for its cost and the impact on the Federal budget.
During the election campaign in New Hampshire, he responded to a viewer question about the payment, he said, he would be likely to increase the payroll tax on the employer as well as the income tax on high incomes.
“It would cost you, and ordinary Americans are a lot less than you are spending, on average, are currently,” he said before explaining his method of payment.
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“What is it going to look like a payroll tax on employers, an increase in the income tax in a progressive manner for the people-with a substantial contribution for persons with low income, pay nothing for them,” he said.
He also said his campaign targeted not put a detailed account of his payment plan, because it would “generate enormous debate.”
Sanders was ahead of only one of the many progressive, 2020 candidates, “Medicare for All” and other policies, and more vigorous debate about socialism in the United States.
The proposal received different estimates from different organizations. According to the Committee for a Responsible Federal budget, a Medicare for All proposal, Rep. Pramila Jayapal, D-Wash. cost about $28 trillion to US $32 trillion in more than a decade.
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The American Action Forum, a conservative think tank, estimates that the Green New Deal-provide for the General health care would cost $36 trillion, $260,000 in costs per household
A further study from the Mercatus Institute, generally perceived as leaning right on fiscal issues, similar to that predicted in 2018 that the cost would reach $32 trillion in 10 years, but forsaw expenditure a scenario in which the nation could actually save you more than $2 trillion for the health.
An alternative scenario, accounting for the less effective control of costs, would lead to more than 3 trillion dollars of additional costs. Mercatus also claimed that his study thought of the author, the assumptions, the cost-savings may be inadequate.
If the Centers for Medicare & Medicaid Services (CMS) Administrator Seema Verma commented on the issue in April, she described the program as “the biggest threat to the American health care system.”
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“What we are talking about Stripping people forcing their private health insurance, in a government-run program,” she said. Her concerns echoed those of others concerned about the impact on existing health plans.
Sanders and other advocates of universal healthcare have championed as a human rights issue — citing the U.S.’s high health care costs and lack of coverage in comparison to other industrial Nations.