Expect Steep Tax Hikes With Sanders' New Version of Medicare For All, Report Says | NTK Network Expect Steep Tax Hikes With Sanders’ New Version of Medicare For All, Report Says

Expect Steep Tax Hikes With Sanders’ New Version of Medicare For All, Report Says

The bill is expected to have the backing of fellow 2020 Democratic presidential contenders Warren, Harris, Gillibrand, and Booker.

By NTK Staff | 04.10.2019 @9:39am
Expect Steep Tax Hikes With Sanders’ New Version of Medicare For All, Report Says

Sen. Bernie Sanders (I-VT) is expected to introduce on Wednesday a new and “even more ambitious” version of Medicare for All, a health care overhaul that would simultaneously make it the most robust “health care system on Earth” and send Americans’ taxes soaring.

Sanders proposal would do away entirely with private health insurance. Individuals who are covered by Medicare, Medicaid, the Affordable Care Act, and private employers would all lose their existing plans under Medicare for All. Instead, almost everyone would be covered under “a single government-run program.”

Expect to see a massive tax hike, should Sanders somehow manage to turn this proposal into law.

“Taxes would go up. A lot,” according to Axios’ Sam Baker. “That’s the tradeoff for eliminating premiums and deductibles. Sanders has not said which taxes he would raise.”

For those concerned about losing their plans and paying more in taxes, there is some good news: Sanders’ plan is unlikely to become law, particularly as written.

This is Sanders’ plan as written. It would need several political miracles to pass, especially in this pure form. And even then, it would still need sustained political support to keep functioning the way Sanders intends.

Still, the proposal is expected to have the support of several of Sanders’ 2020 presidential rivals in the Senate, including Sens. Elizabeth Warren (D-MA), Kamala Harris (D-CA), Kirsten Gillibrand (D-NY), and Cory Booker (D-NJ). Others are not quite sold, yet. Sen. Amy Klobuchar (D-MN) said she supports a “public option,” which would allow Americans to buy into Medicare or Medicaid.

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