Monday, August 5, 2019

THE REAL COST OF MEDICARE FOR ALL

   During the most recent round of Democratic presidential debates, nearly all the leading candidates reiterated their commitment to transition the U.S. health insurance industry to a "Medicare-for-All," government-run model. Some promised to do it more quickly than others, but in the end, the result would be the same: the federal government would control health care within a decade.
   Contrary to the claims made by the leading Democratic candidates, millions of middle-class earners would be hit particularly hard under "Medicare-for-All." For example, filers earning $50,000 to $75,000 would likely need to pay on average $7,773 to $9,171 more in new taxes. Those families earning $75,000 to $100,000 would pay $12,612 to $14,880 more. Most households with more than $100,000 income would pay close to or more than $20,000 in additional taxes.

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