Contrary to the claims made by the leading Democratic candidates, millions of middle-class earners would be hit particularly hard under "Medicare-for-All." For example, filers earning $50,000 to $75,000 would likely need to pay on average $7,773 to $9,171 more in new taxes. Those families earning $75,000 to $100,000 would pay $12,612 to $14,880 more. Most households with more than $100,000 income would pay close to or more than $20,000 in additional taxes.
In many cases, these costs far outweigh the projected average employee contribution for employer-provided health insurance—about $1,965 for individuals and $6,752 for families.
Although some proposals would offset these costs by imposing wealth taxes and additional business taxes not included in my analysis, I found that these would have a relatively small effect on the tax burden imposed on individuals and families. The wealthy and businesses simply do not have enough money to cover the massive costs of single-payer health care.
To illustrate this reality, consider the following: Even if the federal government were to confiscate every penny belonging to every single one of the richest 400 Americans—including billionaires like Bill Gates and Jeff Bezos—it would only amount to less than $3 trillion, which is less than 10 percent of the cost of single-payer health care in the first 10 years alone, even under the most optimistic scenarios.
https://www.foxnews.com/opinion/medicare-for-all-middle-class-justin-haskins
In many cases, these costs far outweigh the projected average employee contribution for employer-provided health insurance—about $1,965 for individuals and $6,752 for families.
Although some proposals would offset these costs by imposing wealth taxes and additional business taxes not included in my analysis, I found that these would have a relatively small effect on the tax burden imposed on individuals and families. The wealthy and businesses simply do not have enough money to cover the massive costs of single-payer health care.
To illustrate this reality, consider the following: Even if the federal government were to confiscate every penny belonging to every single one of the richest 400 Americans—including billionaires like Bill Gates and Jeff Bezos—it would only amount to less than $3 trillion, which is less than 10 percent of the cost of single-payer health care in the first 10 years alone, even under the most optimistic scenarios.
https://www.foxnews.com/opinion/medicare-for-all-middle-class-justin-haskins
