(VIDEO) Democrats Universal Healthcare Plans Would Cost How Much?!?
Before you start to get excited about the concept of universal health insurance under Medicare for all, you might want to check the facts and get informed.
Supporters of Medicare for All, the huge, single-payer government health plan backed by Bernie Sanders, Elizabeth Warren and several other Democratic presidential candidates, say it’s time to think big and move to a health plan that covers everyone. How we get there is a bit tricky, however. Multiple analysis of this universal health plan estimate that Medicare for All would require at least $3 trillion in new spending. That’s about as much tax revenue as the government brings in now. So if paid for through new taxes, federal taxation would have to roughly double.
The proposed plan Medicare for All would be so expensive that if you were to tax the top earners of couples making $408,000 per year at 100% annually there still would not be enough money to cover the plan. And let’s be honest if individuals were taxed at 100% they would stop working.
Then there is the concept of implementing a 42% national sales tax which would generate about $3 trillion in revenue but would destroy consumer spending which is essential for the U.S. economy. A tax of that magnitude would comparable to a 42% inflation
Other options include a 32% payroll tax split between employers and workers or a 25% income surtax on everybody. Or, the government could cut 80% of spending on everything but health care, which would include highways, airports and the Pentagon.
Outside of the cost to bring universal health care to Americans you might be wondering what the additional pros and cons are.
Some of the pros include non complex billing, recognition, reduce cost, no limitations, no insurance premiums, reduce paperwork and no more private insurance
The cons include increased wait time for patients to receive care, physicians become government employees, using socialized medicine, socialism, reduce development of new medicines and cures, and an increase in government burden
You know the saying it sounds too good to be true??? In this case there’s a chance that saying is 100% relevant. Do your research before you stand for or against the concept of universal health coverage. Everything comes with a cost and you need to be informed of the cost/benefit analysis before you decide what’s right for you
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