Democratic Primaries
In reply to the discussion: How are you going to pay for it Bernie? [View all]LiberalLovinLug
(14,174 posts)They co-sponsored the Medicare-for-All bill together, in case you didn't know.
You brought up the issue. So, what gives?
https://www.npr.org/sections/health-shots/2019/01/30/689930022/several-democrats-eying-a-presidential-run-embrace-medicare-for-all
Sanders laid out several options to pay for his proposal, including increasing taxes on employers who would no longer be paying insurance premiums; increasing individual income taxes; and boosting taxes on the wealthy.
Harris didn't say, in the town hall-style meeting, how she would pay for the program. And her Senate office didn't respond to an email asking whether she has a funding proposal.
Warren has proposed a 2 percent tax on the wealth of an individual that's above $50 million and 3 percent on wealth of more than $1 billion.
Here is a more bullet point summation for Sanders. Again, where is Kamala's?
https://www.marketwatch.com/story/heres-how-bernie-sanders-would-pay-for-his-medicare-for-all-program-2017-09-13
Here are the options Sanders puts forward to pay for his plan, and how much he says could be raised by them.
Elimination of special tax breaks: $4.2 trillion over 10 years. The main target: company-provided health benefits for employees. They would no longer be needed.
Business payroll tax: $3.9 trillion over 10 years. Companies would pay a 7.5% income-based fee, but Sanders asserts it would cost them less overall compared to the current system.
Household premiums: $3.4 trillion over 10 years. Families would pay a 4% income-based fee, considerably less than what they pay now.
Higher taxes on the rich: $1.8 trillion over 10 years. Raise marginal rates to as high as 52% on the richest Americans. The current top rate is about 39.6%. Also, limit deductions and treat taxes on dividends and capital gains equally.
A new net wealth tax: $1.3 trillion over 10 years. This new tax would apply to the wealthiest 0.1%, or 160,000 households. A 1% annual tax would be applied to net worth exceeding $21 million.
One-time tax on offshore profits: $767 billion over 10 years. Sanders wants to tax profits of Americans companies that are earned and held in other countries. These profits are not taxed until they are returned home under current U.S. law.
Increased estate taxes: $249 billion over 10 years.
Fee on large Wall Street banks: $117 billion over 10 years. The six largest U..S. financial institutions would get the bill.
You're welcome
primary today, I would vote for: Undecided