Warren bets the White House on Medicare for All

[Counselor706]

Elizabeth Warren, who rose to the top with big liberal bets, is banking a big slice of her presidential run on full-throated support for Medicare for All.

Why it matters: Warren is taking a beating on social media after claiming middle class Americans won’t pay higher taxes to fund health care coverage fully paid for by taxpayers, according to data from NewsWhip provided exclusively to Axios. At the same time, her poll numbers nationally are slipping.

The bigger picture: Numerous prominent Democrats have told us Trump will feast on Warren’s plan to eliminate private insurance to force everyone onto Medicare. They worry she has no wiggle room to backtrack if she wins the nomination because her entire reputation is wrapped around not buckling on big debates like health care.

Source

 

[heathergives]

Warren in in for a huge surprise wharn the middle class casts their votes during the 2020 primary.

Say bye-bye, Pocahontas.

 

[OldJourno]

It's hard to keep track of all the information flying around out there, but one wealth tax proposal I heard about would cost Bill Gates and Mr. Amazon about $7 billion a year. The members of the Walton family would be hit hard too, as would other billionaires.
These are the guys, the 1 percent, who already pay 40 percent of the load.
But there's a bottom line to this, and it's not good.
The budget shortfall is almost $1 trillion a year already and Medicare for All costs range from $3 trillion to $4 trillion a year. Grabbing all that extra cash from billionaires will hardly make a dent in $4 trillion, since one trillion is one thousand billions.
Read up on this, people. One "solution" I've seen is a 32 percent payroll tax. Another is a 9 percent national sales tax, on top of your income taxes.
All this to put the government in charge of your health care.
The government? Seriously?

 

[heathergives]

It's hard to keep track of all the information flying around out there, but one wealth tax proposal I heard about would cost Bill Gates and Mr. Amazon about $7 billion a year. The members of the Walton family would be hit hard too, as would other billionaires.
These are the guys, the 1 percent, who already pay 40 percent of the load.
But there's a bottom line to this, and it's not good.
The budget shortfall is almost $1 trillion a year already and Medicare for All costs range from $3 trillion to $4 trillion a year. Grabbing all that extra cash from billionaires will hardly make a dent in $4 trillion, since one trillion is one thousand billions.
Read up on this, people. One "solution" I've seen is a 32 percent payroll tax. Another is a 9 percent national sales tax, on top of your income taxes.
All this to put the government in charge of your health care.
The government? Seriously?

I'm no economist, however IMHO a flat tax may be the way to go.

 

[HisArpy]

I'm no economist, however IMHO a flat tax may be the way to go.

I agree on the flat tax.

Data I quick scrounged -

138.3 Million taxpayers in 2018
123 Trillion paid by them in taxes in 2018.
$63,179 median household income in 2018.

That yields a flat tax rate of around 7% on average. I'd be willing to pay that with NO DEDUCTIONS of ANY kind for ANYONE. No minimum floor either, everyone pays no matter how much or how little you make. Pay your fair share or quit whining because everyone pays the same percentage. Everyone.

Hell, the sales tax rate in LA is more than that. The problem is that Congress thinks they need 20- 25% to make it work. Which secretly translates to a LOT of pork belly spending and a tax floor for the poor. The problem with that is that you wind up with something that isn't a flat tax, it's merely renaming the tax structure we already have.

 

[heathergives]

I agree on the flat tax.

Data I quick scrounged -

138.3 Million taxpayers in 2018
123 Trillion paid by them in taxes in 2018.
$63,179 median household income in 2018.

That yields a flat tax rate of around 7% on average. I'd be willing to pay that with NO DEDUCTIONS of ANY kind for ANYONE. No minimum floor either, everyone pays no matter how much or how little you make. Pay your fair share or quit whining because everyone pays the same percentage. Everyone.

Hell, the sales tax rate in LA is more than that. The problem is that Congress thinks they need 20- 25% to make it work. Which secretly translates to a LOT of pork belly spending and a tax floor for the poor. The problem with that is that you wind up with something that isn't a flat tax, it's merely renaming the tax structure we already have.

Point taken, save for the fact that the mortgage intrest deduction is generally considered sacred in the USA.

Personal experience, being a single woman with few/no deductions, I don't know if I could afford my modest home without the mortgage interest deduction.
Just saying...