Elizabeth Warren’s Medicare-for-all tax plan may be her biggest fraud of all
Comes with a $52 Trillion price tag
Elizabeth Warren released her much-anticipated Medicare For All plan Friday. It’s as awful and ridiculous as you might expect. Clocking in at around $52 trillion (yes that’s ‘trillion’ with a T), Warren promises her plan is the salve that will cure all the nation’s woes while simultaneously providing a tax cut, magically.
From Fox:
The Warren campaign’s detailed Medicare-for-all proposal, however, insists that the costs can be covered by a combination of existing federal and state spending on Medicare and other health care — as well as myriad taxes on employers, financial transactions, the ultra-wealthy and large corporations and some savings elsewhere. Those measures are meant to pay for a projected $20.5 trillion in new federal spending. Notably, they include what is essentially a payroll tax increase on employers, something economists generally say can hit workers in the form of reduced wages.
Like Medicare-for-all’s chief Senate champion, fellow candidate Bernie Sanders, the Warren campaign argues that many of these costs already are being spent in the existing health care system by governments, employers and individuals in the form of premiums, deductibles and other expenses.
However, unlike Sanders’ plan, Warren’s projects no new tax burden for the middle class. The Warren campaign claims those $11 trillion in individual costs would drop to “practically zero,” while the plan maintains and boosts a funding pipeline from other sources. The plan also carries a total price tag of “just under $52 trillion” over the next 10 years, or slightly less than cost projections for the current system. That factors in current and additional spending; new spending alone would be in the $20 trillion range, compared with roughly $32 trillion for Sanders’ plan.
There’s just no way:
Today, I’m releasing my plan to pay for #MedicareForAll. Here’s the headline: My plan won't raise taxes one penny on middle-class families. In fact, we'll return about $11 TRILLION to the American people. That's bigger than the biggest tax cut in our history. Here's how:
— Elizabeth Warren (@ewarren) November 1, 2019
Her explanation:
Health care costs are rising and crushing families. And a serious diagnosis can financially ruin a middle-class family even if they have insurance. We let private insurance and drug companies profit from that pain. Enough. We need a system that reflects our values.
— Elizabeth Warren (@ewarren) November 1, 2019
#MedicareForAll finally brings true choice to the health care system. The choice to see the doctor you want, to get the prescriptions you need, pick the job or start that small business you want without worrying about where your health insurance will come from.
— Elizabeth Warren (@ewarren) November 1, 2019
Let’s get to the math! (All backed up by independent experts and economists.) First, we’re going to rein in the waste, inefficiency, and corporate profiteering by insurance and drug companies. And we’ll bring down out-of-control costs.
— Elizabeth Warren (@ewarren) November 1, 2019
Instead, we’re going to spend more on care itself. And thanks to getting rid of all the waste in the system, we can offer top-of-the-line care for all 331 million people in the U.S. for LESS than what we’ll pay if we do nothing to fix our broken system now.
— Elizabeth Warren (@ewarren) November 1, 2019
How is it paid for? Well, if you’re not in the top 1%, Wall Street, or a big corporation—congratulations, you don’t pay a penny more and you’re fully covered by #MedicareForAll.
— Elizabeth Warren (@ewarren) November 1, 2019
To cover the cost, we start by taking the money that employers are currently paying in the form of premiums to private insurance companies and have them pay it to Medicare instead.
— Elizabeth Warren (@ewarren) November 1, 2019
To cover the cost, we start by taking the money that employers are currently paying in the form of premiums to private insurance companies and have them pay it to Medicare instead.
— Elizabeth Warren (@ewarren) November 1, 2019
We cover the remaining $11 trillion largely with taxes on big corporations, Wall Street, and the top 1%—and enforcing the tax laws we have now. Add in a targeted cut to a Defense Dept slush fund and that’s it. You’ll find full details in my plan here: https://t.co/N0Ai7TayJD
— Elizabeth Warren (@ewarren) November 1, 2019
Sure! Let’s turn our health insurance over to the government. WHAT COULD POSSIBLY GO WRONG?
And to put these numbers in perspective, even the $11 T she’s casually tossing around, the combined net worth of the world’s 2,153 billionaires is only $8.7 trillion.
Fox News puts these massive price tags in perspective:
- Total annual U.S. corporate profits: $2.08 trillion
- Combined net worth of the world’s 2,153 billionaires: $8.7 trillion
- Total U.S. national debt: $22.9 trillion
- Total value of the U.S. stock market: $32.3 trillion
- Total value of all U.S. homes: $33.3 trillion
- Total spending on health care in the United States from 1960 to 2017: $59.6 trillion
- How much revenue (taxes) the U.S. government has received in its history: $76.7 trillion
- Total world combined GDP: $86.6 trillion
- How much the U.S. government has spent in its history: $91.7 trillion
She’s looking at spending more than half the world’s combined GDP. There is just no way. And we haven’t even factored in how trillions of new taxes on employers would cause job losses, wage stagnation, and labor hours cut to offset astronomically high taxes.
Joe Biden’s campaign is absolutely right on this one:
Indeed, the Joe Biden campaign said the “unrealistic plan” would leave only two options: “even further increase taxes on the middle class or break her commitment to these promised benefits.”
“The mathematical gymnastics in this plan are all geared towards hiding a simple truth from voters: it’s impossible to pay for Medicare for All without middle class tax increases,” Deputy Campaign Manager Kate Bedingfield said in a statement.
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Here’s the Executive Summary of her plan,
“Everything within the state, nothing outside the state, nothing against the state”
Socialism – making individuals & citizens become subjects
It’s so easy, I don’t know why nobody else thought of that.
We just tax all the rich people.
Everybody else rides for free.
That’s it.
Pocahontas 2020.
Pasty face WASP speaks with forked check book.
What happens to all the insurance companies and their employees under this plan? As an example, Aetna has roughly 49,000 – do they all end up on the unemployment line?
At a minimum the government would require at least twice as many administrators to administer what the insurance companies presently handle, plus another few hundred thousand to “enforce” all the new government rules, and another hundred thousand to run health care courts around the country.
Yep, they can go on the government payroll, because we’ll need many more bureaucrats to administer the massive government program.
“Let’s get to the math! . . . . First, we’re going to rein in the waste, inefficiency,”
LOL, yeah, because we all know there’s no waste and inefficiency in government-run programs, right Lizzie?
She’s not only lying through her teeth, she’s enjoying lying through her teeth. She’s pathological.
They won’t be hiring anyone who might know what they’re doing
This bureaucracy will be staffed with $75 nail jobs, hair weaves and inability to speak basic English
All joining the federal employee unions and demanding $250 K/yr and 12 week vacations for feeding applications into the shredder as soon as they come in
We’ll have a large pool of unemployed people when Alexandria Occasio-Cortez puts the airlines out of business.
Boeing alone employs 153,000 people. Then when you stop and consider everyone from the pilots to the parking lot attendants we are looking at millions of people who are employed now who won’t be if this country was stupid enough to let them get their hands on the levers of power.
I get a kick out of how AOC tosses around the WWII analogies. She’s more right than she knows. She just on the side of the Nazis, faschists, and Japanese imperialists. They could only dream of wreaking the kind of devastation that she has planned for us. I don’t think the other Democrats would actually dare try it. But AOC is crazy and stupid enough to attempt it.
Just being willing to utter the words, though, is disqualifying.
The money isn’t even the most important problem with the government taking over health insurance: In order to control costs, they’re going to HAVE to control expenditures. That means mandating what can be charged for health related products and services.
They’ve already tipped their hands in vilifying medical related industries for making a profit: “We let private insurance and drug companies profit from that pain. Enough.”
So…when doctors know that they’re not going to be “allowed” to profit from their labor how many youngsters are going to invest the time, effort and money required to get a medical license? Not many. How many shareholders are going to continue investing in private medical facilities when they know the government isn’t going to “allow” them to profit? How many drug companies are going to continue to invest millions (sometimes billions) of dollars into new treatments and medications when they know that they’re never going to be able to recoup those expenses?
The medical “system” will be crippled. As older doctors begin to retire (and a bunch will do so right away), there won’t be replacements for them. The few replacements there are will have to be imported from third world countries. Hospitals will close or be nationalized. For profit medical “doc in the box” facilities will close wholesale. New drug research will virtually halt overnight.
Waiting times to get a primary care physician will start growing and, within a few years, will be untenable. Waiting times for appointments will be ridiculous right from the start.
More and more people will start going to emergency rooms for routine care because they can’t get appointments (and an emergency room visit is free) and emergency room waits will become just as untenable.
The government will have to start rationing care just like in the UK. Are you a smoker? Overweight? Gun owner? Sorry, you’re risky behavior makes you a poor investment for medical care. Oh..and Yup…medicare for all will cover your care if you have pre-existing conditions, you just won’t be able to get any care for them to cover.
Rich people will have private doctors and will travel to other countries for medical procedures. Normal people will just die waiting.
Heck, maybe that’s the long-term plan from the jump: thin out the ranks of those damn deplorables.
This is a VERY bad idea and for more significant reasons than just because we can’t afford it.
And the end game is always involuntary euthanasia.
That’s a pretty good description of the health care system I live with in Canada.
I’ll prob get banned for saying this….but 2nd exists for a reason. jefferson himself said words that support that.
we can offer top-of-the-line care for all 331 million people in the U.S.
Huh? I thought she was talking about Medicare.
the Warren campaign argues that many of these costs already are being spent in the existing health care system by governments, employers and individuals in the form of premiums, deductibles and other expenses.
Oh, there’s the problem. This fool actually has no idea what Medicare is. Medicare has premiums and deductibles. So obviously “Medicare for All” won’t actually eliminate these, since Medicare for Some certainly doesn’t.
If the problem is progressive cost, then a single/central/monopoly solution may be optimal and unavoidable, given a certain religious/moral frame of reference (e.g. pro-life). If the problem is progressive price, then a market (i.e. democratic, dynamic) solution would produce an optimal solution for all parties and interests within a frame of reference where natural and anthropogenic resources are finitely available and accessible.
Save your pennies because under Warren’s program the best and most immediate care for any real problem will be outside the country. She has no shame! Just lies like a rug.
Somebody needs to tell her, that’s not how math works.
She is apparently a connossieur of “Fuzzy Math”.
And let’s call things by their proper name.
What Warren is proposing, or threatening, is a massive confiscation of private monies.
My spouse explained to me why Warren thinks there is $52T hanging around. She thinks in terms of wampum.
She can’t even sell this abortion of a plan to Reuters.
https://www.msn.com/en-us/news/politics/warrens-big-healthcare-plan-relies-on-big-assumptions/ar-AAJIst3?ocid=spartandhp
I was shocked when I read this as I expected the mainstream media to be completely in the tank for Warren. I never expected to read or hear a critical word about “Medicare For All.” They sort of gave it a half-hearted try; mentioning that “rich countries” already do this sort of thing, and the article offers two examples. Canada and France.
Canada has a population of 36.71 million. France has 67.12 million. The U.S. population is 325.72 million.
No country is that rich. Not even Reuters, which is populated with Elizabeth Warren/Bernie Sanders/socialism fans, can pretend the whitest Injun who ever existed isn’t lying her @$$ off.