Elizabeth Warren’s Medicare-for-All scheme is estimated to cost of 34 trillion dollars .
Yes, that’s trillion with a T.
Because of this exorbitant price tag, Warren has been called out by the members of her own party (even Bernie Sanders has called it kooky).
How on earth does Warren propose paying for this? The majority is from tax increases on the top “1%”. But why 1%? Why not 10%, or .1%?
It seems that the 1% remain a favorite scapegoat - the ultra-millionaires and billionaires who together own around 35% of America’s wealth. With that figure in mind, it’s tempting to look at the super rich as the solution to health care overruns, but Garrett Watson of the Tax Foundation says we should be wary of “soaking the rich.”
Garrett (@GS_Watson) is special projects manager for the Tax Foundation – the nation’s leading independent tax policy nonprofit.
Producer Charlie Deist speaks with Garrett this Sunday about the nuts and bolts of the proposal, and discuss how the law will affect everyday Americans. Despite the legal burden falling on the richest Americans, the unseen economics tell a different story.
- Tax Policy and Entrepreneurship by Garret Watson
- A Calculator For The Billionaires | Elizabeth Warren
- The middle class will certainly feel the tax burden of 'Medicare for All' | TheHill
- Garrett Watson (@GS_Watson) | Twitter