Elizabeth Warren says she would not raise middle-class taxes for $52 trillion health-care plan

CNBC ^ | Jacob Pramuk

[SeekAndFind]

Sen. Elizabeth Warren pledged Friday not to raise middle-class taxes to fund her "Medicare for All" plan, responding to pressure she faced as she emerged as a front-runner in the race for the 2020 Democratic presidential nomination.

In a new outline, Warren's campaign said her single-payer health plan would cost the country "just under" $52 trillion over a decade, which includes $20.5 trillion in new federal spending. It estimates the proposal would cost just less than the estimated $52 trillion in spending for the current system over 10 years.

The Massachusetts Democrat's campaign said her plan would give every American "full health coverage, and coverage for long-term care." It added that it would do so with "not one penny in middle-class tax increases" — a response to criticism from rivals such as South Bend, Indiana, Mayor Pete Buttigieg.

As she saw her support swell in national and early-state polls in recent weeks, Warren faced more pressure to explain about how she would fund a single-payer, government-run insurance system. While she had not answered specifically whether her plan would hike taxes on middle-class Americans, she repeatedly said it would cut costs by reducing spending on health care.

Warren's plan meets the demand for a sprawling system to cover all Americans amid widening complaints about what many consider an unfair and expensive U.S. health system. The seismic changes Warren seeks — from the elimination of private health care to tax hikes on corporations and the wealthy and even changes to military spending — will likely have a tough time passing the Senate, even if Democrats win a narrow majority in the chamber next year.

[headstamp 2]

Simply look at every speech she makes from now on as bad standup comedy.

[SeekAndFind]

Here are some of the methods Warren's campaign outlines to cover the plan's costs, in terms of both reducing spending and raising money:

• A new employer Medicare contribution to raise $8.8 trillion, which the campaign says would save companies $200 billion relative to what they would have shelled out under the current system
• Cutting administrative costs by scrapping private insurers
• Negotiations to reduce drug spending
• Better enforcement of existing tax laws to raise $2.3 trillion more in revenue
• Taxes on "the financial sector, large corporations and the top 1% of individuals." Changes in taxes on the investing community and large companies could raise an estimated $3.8 trillion, according to Warren's campaign.
• Warren appeared to take her proposed wealth tax further under the health care plan, saying wealth over $1 billion would be taxed at 6% rather than the currently proposed 3%. The change would raise an additional $1 trillion, the campaign said. Overall, Warren's campaign estimates that it can take in $3 trillion for the health care plan by "asking the top 1% of households in America to pay a little more."
• $400 billion more in tax revenue through immigration reform
• Eliminating the Overseas Contingency Operations military fund to save about $800 billion over a decade

[OttawaFreeper]

Well, we know when a politician makes a comment like that, they are drawing from their experience from selling ocean front real estate located in Colorado or the Dakotas, eh?

[ClearCase_guy]

It’s easy, really. Find a guy with $52 trillion dollars and then just take it. No one else needs to suffer.

[cuban leaf]

I understand she’s gonna mine the asteroid belt for gold. I wish her luck.

[circlecity]

"Better enforcement of existing tax laws to raise $2.3 trillion more in revenue"

IF that were possible why aren't we doing it now? Maybe we'll also discover some magic beans that grow money trees.

[dp0622]

I thought the 52 trillion was a number tagged on it by OPPONENTS!!

She ADMITS IT?!?!!?!!?

Do they ALL NOT WANT the nomination?!?!?!?

I guess they’re depending on schiff.

I read on cnn how pelosi will be president by this time next year.

[circlecity]

"Cutting administrative costs by scrapping private insurers"

How does replacing private insurers with public insurers reduce administrative costs? Experience shows they would increase.

[butlerweave]

Could you see her nose growing ?

[circlecity]

Anyone who believes this would only cost 52 trillion also believes Epstein committed suicide.

[Tenacious 1]

She would re-define middle class as those with 8 kids making between $19,000/year and $20,000/year. Those families would not see a tax increase. And illegal aliens, they wouldn’t have their taxes increased either. And politicians and their friends and families. No increased taxes for them. And democrat donors.

[newfreep]

It’s easy, really. Find a guy with $52 trillion dollars and then just take it.

I think I found THAT guy...

[Truth29]

Lieawatha speaks with forked tongue and the leftist drones and public school graduates will believe her.

[patriotspride]

She is counting on “ I’m owed mine” crowd for votes who think that her plan will be free.

Wait until they find out that Medicare is paid for you throughout your life.

This hoax that it will be funded by the rich is just that. 54 trillion exceeds the national debt that we can’t find a way out of.

Anyone else overdrawn on their lines of credit would be forced into bankruptcy.

Her plan is to do just that in the name of “ income redistribution”

She is are really talking about Medicaid for all that is in its current form restricted to the lowest income earners.

The Media purposefully doesn’t ever reveal that.

[patriotspride]

She would re-define middle class as those with 8 kids making between $19,000/year and $20,000/year. Those families would not see a tax increase. And illegal aliens, they wouldn’t have their taxes increased either. And politicians and their friends and families. No increased taxes for them. And democrat donors.

---

Bingo . See my post below yours that amplifies that.....

[Fresh Wind]

I would like Princess Gray Beaver to tell us which government programs, if any, have been run efficiently, without vast amounts of fraud, waste, and abuse.

[Bonemaker]

“....”not one penny in middle-class tax increases”...

“Middle class” being everyone making under $20,000 a year.

[ADSUM]

Warren is a liar.

[butlerweave]

$52 trillion = free healthcare for the World ?