Posted on 09/14/2017 7:28:07 AM PDT by sasherm13
Bernie put out a statement of suggested methods of funding his single-payer Medicare for All plan. Shockingly, he would make the American people pay for his socialist dream through increased taxes. He suggests repealing healthcare-related tax expenditures, raising high-income tax rates, treating capital gains and dividends as ordinary income, imposing a one-time tax on offshore profits, and imposing a fee on large banks.
His release states that "As the wealthiest country in the world, we have a variety of options available to support a Medicare for All single-payer health care system that guarantees high quality, affordable health care as a right, not a privilege, to every man, woman, and child in this country."
Wow on the tax part of the option for those who are doing well:
- Dividends and capital gains taxed liked ordinary income
- Federal rates 45 to 50%’
- take away deductions
So, once you throw in State income taxes (and for the really tax-persecuted, like Manhattanites, city taxes), you’d be facing a marginal total income tax rate of 60 to 65 percent.
Just wow. Actually, it’s hard to believe that some of the rich Dem backers, like Goldman’s Blankfein, or hedgefund liberal Tom Steyer, would be OK with this.
This is just wonderful. But who is going to pay for it since the US government cannot pay what bill they currently have?
Those increases wouldn’t cover one tenth of the cost. You will end up with a payroll tax deduction that will equal FICA. We need to find out how Canadians pay for theirs. I was up there in the 80s and I remember some kind of payroll deduction
And I remember (not too long ago) of video a Will Smith being told that the taxes in France are 75%. Smith was flabbergasted and just said ‘well, God Bless America’. These Leftists really have NO IDEA how much everything would cost if they actually were running everything. And Bernie, Medicare for everyone??? Many of us have paid into Medicare for 50 years and are just now realizing how much we still have to pay for healthcare in our twilight years. Bernie’s ego is writing checks that he cannot fund.
One of the best reasons for high-school and college students to have jobs is to learn what it's like to have taxes taken out of your earnings.
Medicare for all. It seems that the socialists want to give it to illegals and welfare folks for free and of course put the onus for paying it by further crippling the dwindling working taxpayers. Seniors pay a monthly premium and deductibles and co-pays. If it truly becomes medicare for all then the free rides need to be removed and all pay premiums, deductibles and co-pays. If not then it is just swinging the freebie Medicaid bunch into medicare without them paying for anything like it is now anf dorcing folks with real employer based health plans into the federal medicare nightmare.
This communist Loon, Sanders just needs to go away.
If Hillary had won in November, this s—t would already have been passed.
Think of that when criticizing DJT....
I have a friend who was born & lived in Sweden.
The “Cradle to grave” health care there is very expensive in your paycheck.
He was to the point where 76% of his paycheck was taken before he saw a penny of it.
He called me from Sweden & asked if I had an empty bedroom he could rent. He was here within 3 weeks. He helped me on my ranch—help I didn’t really need—but wouldn’t tell him that. He filed for papers to become an American citizen & he has done exactly that. He says he will never go back to Sweden.
Some 30 years ago, I did some electronics consulting. One of the engineers I was working with said he had been posted in Sweden, and the tax rate then was closer to 90%. He said that the company could never get anyone to work overtime in emergencies (like product crunch time) because the employees valued their time more than the measly 10% of pay they got to take home. So, they had to bribe them with goods, like blue jeans.
bmp
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.