2020 Democrat Candidate Elizabeth Warren Unveils Her $52 Trillion ‘Medicare for All Plan’ and Makes the Unbelievable Claim that Taxes Won’t Be Raised on the Middle Class

November 4, 2019 in News, Video by RBN Staff


Elizabeth Warren, Wiki
Democrat 2020 candidate, Senator Elizabeth Warren, unveiled her plan to fund Medicare for All, that would cost $52 TRILLION, requiring $20.5 trillion in new spending over the next decade. She proclaimed that her plan would not require a middle class tax hike, proposing to pay for the multitrillion-dollar program by increasing her “Ultra-Millionaire Tax,”  slashing defense spending, providing a pathway to citizenship for illegal immigrants, and mandating an “Employer Medicare Contribution” that forces companies to send the money that they use for employee insurance to the federal government instead. Employees usually pay a portion of their health insurance premiums, but under Warren’s plan, employers will be saddled with the tax, resulting in job and wage losses. The Committee for a Responsible Federal Budget reported that the wealth tax won’t even come close to covering Warren’s plan, and will only meet about 40% of the cost of Medicare for All.
Cornell law professor, William Jacobson, says that the funding for Warren’s Medicare for All is unrealistic and will force 140 million Americans to give up their private health insurance.
Warren admits that as many as 2 million jobs will disappear, including administrators, insurers, and other positions in doctors’ offices.

There is no way that 2020 presidential candidates Elizabeth Warren’s long-awaited $52 trillion “Medicare-for-all” plan won’t tax the middle-class, GDP Advisors President Seth Denson said Saturday.

During the last Democratic presidential debate, Sen. Warren, D-Ma., promised voters that costs will only go up for the wealthy.

“We don’t need to raise taxes on the middle class by one penny to finance Medicare-for-all,” Sen. Warren, D-Mass., said in her plan — a copy of which was obtained by Fox News in advance of its release Friday.

The Warren campaign’s detailed proposal insists that the costs can be covered by a combination of existing federal and state spending on Medicare and other health care — as well as myriad taxes on employers, financial transactions, the ultra-wealthy and large corporations and some savings elsewhere. Those measures are meant to pay for a projected $20.5 trillion in new federal spending. Notably, they include what is essentially a payroll tax increase on employers, something economists generally say can hit workers in the form of reduced wages.

Warren calls for bringing in nearly $9 trillion in new Medicare taxes on employers over the next 10 years, arguing this would essentially replace what they’re already paying for employee health insurance. Further, Warren’s campaign says if they are at risk of falling short of the revenue target, they could impose a “Supplemental Employer Medicare Contribution” for big companies with “extremely high executive compensation and stock buyback rates.”

Appearing on “Fox & Friends: Weekend” with host Ed Henry, Denson said that the reality of the situation is “people lie,” but that “numbers don’t.”
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