Medicare for All is promoted by Sen. Bernie Sanders, Assemblyman Anthony Brindisi, and candidate Alexandria Ocasio-Cortez among other candidates and elected officials seeking re-election. But finally someone – actually several studies that came to the same conclusion, but few that have gotten as much attention as today – did the math for real numbers on cost. That cost is $32 Trillion.
To be exact, as is being reported by every major news agency in the country, it will cost at least $3.2 Trillion a year for 10 years. And considering that nothing has ever cost the Government less than projected, the real cost would be more.
Kenneth Thorpe, a health policy professor at Emory University in Atlanta, and a senior health policy adviser in the Clinton administration, said,
“It’s [analysis report on Medicare for All] showing that if you are going to go in this direction, it’s going to cost the federal government $2.5 trillion to $3 trillion a year in terms of spending. Even though people don’t pay premiums, the tax increases are going to be enormous. There are going to be a lot of people who’ll pay more in taxes than they save on premiums.”
To put this into perspective:
In other words, to pay for Medicare for All, the Government would need to eliminate EVERY other payment it makes – bonds, SSI, defense, pork barrel spending, all of it – every year for 10 years. OR, taxes across the board would need to be doubled. As reported by Axios,
“Worth noting: All told, “Medicare for All” would actually slightly reduce the total amount we pay for health care. But the plan would increase the share of that cost paid through taxes, rather than through insurance premiums or out of pocket.”
CBS News stated similarly,
“After taking into account current government health care financing, the study estimated that doubling all federal individual and corporate income taxes would not fully cover the additional costs.”
The Far Left already knew these numbers. It’s not real. Medicare for All is a sales pitch for votes. Do the math for yourselves (here is the US Debt Clock for your own research). Then consider what you are being asked to give up, for ‘free stuff’ in exchange for your vote.