Even Warren's Economic Adviser Knows Her Tax Plan Won't Cover 'Medicare for All'
The math behind Massachusetts Sen. Elizabeth Warren’s plan to pay for her “Medicare for All” gimmick simply doesn’t add up.
Not counting her plans for health care, the Democratic candidate’s other ambitious programs would heap an additional $6 trillion in costs on the government. Her proposed tax increases would hypothetically cover that, with an additional $1.3 trillion left over.
When Warren’s public health care program enters the mix, things quickly get even more expensive.
Projected to cost over $3 trillion every year, “Medicare for All” would devour Warren’s leftover $1.3 trillion and still be less than half-funded.
While Warren’s plan to pay for her programs includes taxes on the wealthy, corporations and the slashing President Donald Trump’s successful tax cuts, a sizable deficit that other taxpayers may be forced to foot the bill for would still be left over.
“Her taxes as they currently exist are not enough yet to cover fully replacing health insurance,” economics professor Emmanuel Saez told Bloomberg News.
Saez, who teaches at the University of California, Berkeley, worked as an adviser to the Warren campaign as the candidate developed a proposal for a wealth tax.
Warren’s campaign openly admits it’s still working out a way to completely pay for her health care plan. It’s a lack of foresight that no doubt has many voters worried the costs could trickle down to middle-class families.
When pressed on whether her plan would result in a tax increase for America’s middle class, Warren skirts around a clear yes-or-no answer.
During the Democratic presidential debate on Tuesday, this shameless tactic was on full display.
Senator Warren won’t admit Medicare for All will raise taxes on the middle class pic.twitter.com/tnUPtATdud
— RNC Research (@RNCResearch) October 16, 2019
“Costs will go up for the wealthy, they will go up for big corporations and for middle-class families, they will go down,” Warren said during the debate, sidestepping any mention of tax increases for the middle class.
“I will not sign a bill into law that does not lower costs for middle-class families.”
Eliminating Trump’s tax cut and heaping the leftover cost of universal health care onto hardworking American families will be a burden many won’t be able to handle.
Families with stay-at-home mothers might have to face tough decisions when taxes begin eating away at limited income, forcing them to sacrifice their own values to help fund Warren’s socialist policies.
It’s clear that Warren’s half-baked health care plan would likely be disastrous, considering she doesn’t have a clue how to fund it. For a candidate who prides herself on plans, this is a major deficit that threatens to torpedo her chances of one day sitting in the Oval Office.
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