The Socialist senator from Vermont, Bernie Sanders, has now come up with a new plan to provide “Medicare For All.” His most recent harebrained scheme is essentially a government-run single player health care program which has already been proven to be a failure in places like Great Britain and Canada.
Under the senator’s new plan, which of course is supported by the so-called rising star of the Democrat Party Alexandria Ocasio-Cortez who is a self-professed socialist and is running for a House seat from New York, every American would get health care for “free.”
But here is the kicker. Guess how much this scheme would cost the American Taxpayer to provide this free service to the whole nation? According to Mercatus Center at George Mason University, $32.6 Trillion dollars over the first 10 years, and who knows how much more thereafter. This would mean the average U.S. taxpayer would have to pay double the tax bill they currently pay to be able to sustain this program. Let that sink in for a second.
Here is more on this via The Daily Wire:
If you’re wondering what that number looks, it’s this: $3,320,000,000,000.
The government, of course, overspent again in 2017, shelling out at $3.982 trillion, creating a $666 billion budget deficit.
Now comes Sen. Bernie Sanders with a new plan to provide “Medicare For All,” essentially a government-run health care program. Under the plan — heavily supported by the rising Democratic star Alexandria Ocasio-Cortez, running for a House seat from New York — every American would get health care for “free.”
Guess how much “free” costs? Try $32.6 trillion over 10 years, according to a new study. That averages out to $3.26 trillion a year — almost exactly what the government took in last year. That’s if the new plan took effect in 2022, according to a new study released Monday by the Mercatus Center at George Mason University.
“All U.S. residents would be covered with no copays and deductibles for medical services. The insurance industry would be relegated to a minor role,” ABC News reported.
“Enacting something like ‘Medicare for all’ would be a transformative change in the size of the federal government,” said Charles Blahous, the study’s author. Blahous was a senior economic adviser to former President George W. Bush and a public trustee of Social Security and Medicare during the Obama administration.
With the cost of the “free” Medicare program nearly equally the amount of tax revenue, it doesn’t take a genius to figure out that Americans would have to pay roughly double what they pay now in taxes. But Blahous’ study found that even that wouldn’t be enough. “A doubling of all currently projected federal individual and corporate income tax collections would be insufficient to finance the added federal costs of the plan,” because the program’s cost would grow rapidly.