Warren: Medicare for All plan will not raise middle-class taxes 'one penny'


Elizabeth Warren's Medicare-for-all plan is reportedly funded completely by employers.

Watson said "Medicare for All" could also result in lower investment and lower incomes for middle-class workers long-term.

Though Biden has run on a campaign claiming that he has the best chance to defeat President Donald Trump, the poll shows that Iowa voters are equally confident in the ability of both Warren and Sanders to win the general election. Amy Klobuchar, D-Minn., at a Democratic debate earlier this month.

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Warren estimates that under the current health-care system, employers will spend almost $9 trillion over the next decade on health care and related expenses. In fact, we'll return about $11 trillion to the American people.

Strengthen the current anti-base erosion and minimum tax regime established by the Tax Cuts and Jobs Act (TCJA) by establishing a 35 percent country-by-country tax on foreign earnings. Her refusal to say until now whether she would impose new taxes on the middle class, as fellow progressive White House hopeful Bernie Sanders has said he would, had become untenable and made her a target in recent presidential debates. (His campaign now sells the phrase on stickers.) And Warren wouldn't have been the first co-sponsor to back away from the Sanders bill on the campaign trail, as Senator Kamala Harris says she no longer supports it.

Vitali later agreed with Jackson's characterization of calling Warren's plan the "ultimate clapback".

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Former Iowa Democratic Gov. Tom Vilsack said Friday Warren's increase in taxes on wealthy Americans to finance her health care proposal is unrealistic, saying, "One sliver of society isn't going to pay for the rest of us". [Warren] has not said how she'll pay for it, and [Sanders] only gets about half way there.

Under Warren's plan, employers will be forced to contribute to Medicare money they would normally spend on private group health care plans for employees.

The Warren campaign's detailed Medicare-for-all proposal, however, insists that the costs can be covered by a combination of existing federal and state spending on Medicare and other health care; myriad taxes on employers, financial transactions, the ultra-wealthy and large corporations; plus some savings elsewhere. Bernie Sanders of Vermont, who was asked on CNBC this week if he'd provide full details on how he'd pay for his universal health insurance plan and replied, "I don't think I have to do that right now". Employers would calculate their contribution by averaging health-care costs per employee over the last three years, multiplying that average by their total number of employees, and paying 98 percent of the total to the government. While Warren pledged that middle-class taxes would not increase to pay for "Medicare for All", given Congress's refusal to pass a regular budget for a decade, the looming debt crisis due to hundreds of trillions in underfunded existing entitlements like Social Security, and decades of record-breaking federal budget deficits, it's a certainty her pledge will turn out to be as reliable as President Obama's "you can keep your doctor". That factors in current and additional spending; new spending alone would be in the $20 trillion range, compared with roughly $32 trillion for Sanders' plan. Employers would essentially convert the money they now spend on workers' healthcare into Medicare contributions, while billionaires, high-earning investors and corporations would see taxes go up. Buttigieg is getting about twice as much support in polls of Iowa caucusgoers as he is in national Democratic primary surveys, and the South Bend, Ind., mayor's campaign rushed to build out a big, on-the-ground campaign infrastructure in Iowa this fall.

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A critical question for Warren is how she would slash the cost of her plan well below what independent experts have estimated it would take to implement Medicare for All.