Axios reported Friday morning that Bernie Sanders is finally going to roll out his “Medicare for All” plan. How will he pay for it? He doesn’t have an answer.
Socialist Sen. Bernie Sanders (I-VT) is going to introduce a “Medicare for All” bill in September, according to a Friday morning report from Axios. David Nather wrote that Sanders plans to explain how Americans would transition from private to public insurance, and what benefits would be covered under their new plan.
And how to pay for this plan, which some estimate could cost $25 trillion over 10 years? Sanders doesn’t want to talk about that.
How to pay for it: This is where the California single-payer effort got bogged down, and the Sanders bill isn’t likely to provide much of a road map either. That’s because the Sanders team doesn’t want to get caught up in fights over the financing. They just want to start the debate over whether health care should be considered a right, and then work out the details later.
NTK Network has frequently covered the estimated cost of single-payer health care, and it’s extravagant:
What Sanders and his forces don’t talk about as often is the cost of this plan. Sanders’ estimate, a liberal guess, puts the cost of Sanders’ single-payer plan at $13.8 trillion over 10 years. Sanders pays for his plan with a new 6.2 percent tax on employers, a new 2.2 percent tax on households, and a series of other tax increases.
An alternate estimate by Kenneth Thorpe, dubbed a “health expert” by the Committee for a Responsible Federal Budget (CRFB), put the cost of Sanders’ plan at a staggering $24.7 trillion over 10 years.
Sanders criticized the GOP health care effort earlier this year for being drafted “in secret.” On his health care plan, though, Sanders is either keeping the answers to the biggest question – how to pay for a new, $25 trillion program – secret, for now, or he doesn’t have an answer.
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