Wednesday October 23, 2019

Forward with Education & Reason

FacebookTwitterYoutube
Newsletter
Feeds:
Bernie’s Healthcare Plan is Revolutionary PDF Print E-mail
Commentary
Written by Buzz Davis, Army Veteran & Activist   
Tuesday, 23 February 2016 17:33

bernie-sandersJust what we need to control costs & provide single payer healthcare for all!


STOUGHTON, WI - The Democratic debate in Milwaukee on February 11th was not one of the best nights for either Sanders or Clinton when it came to explaining their competing healthcare plans for America.

Bernie’s plan basically is the Medicare for All bill supported by progressives for years in our Congress.  This plan would revolutionize healthcare into a single payer system in the US.  The Federal government would tax individuals and employers and with these taxes pay all the healthcare bills for every man, woman and child in America.

In a recent poll 51% of Americans support single payer while 37% oppose it.

Clinton’s plan is basically trying to improve on Obama’s Affordable Care plan by charging additional taxes to pay for incremental changes and expansion of that system.  Basically Clinton keeps the present broken healthcare system of insurance companies, drug companies and for profit and non-profit hospitals in control.

The single payer Medicare for all has gotten nowhere in the past because of continued  campaign finance corruption - whereby healthcare special interests dump bags of money into the political campaigns of politicians supporting the status quo.

Clinton repeatedly asked Sanders where does the money come from?  How much does it cost?  Will it raise taxes?  And of course she states her plan is superior to Sanders’.

Sanders’ plan, including additional taxes, is on his website hiding in plain sight.  It’s a few pages long: berniesanders.com/issues/medicare-for-all/

I am sure Clinton’s staff has studied it well.

It would replace the present US healthcare system with a new single payer system where the Federal government pays all the costs for the system and raises various taxes to pay the bill.  All Americans would receive complete healthcare including prescriptions, dental, mental health and long term care.  Americans would have no more co-pays, no more deductibles and no more arguments with insurance company clerks.

Present total healthcare cost is estimated at about $3.2 TRILLION/yr. for about 323 million people in the USA or about $10,000/yr. per person.

Proposed Medicare for All system cost is estimated to cost about $1.4 TRILLION/yr. with likely additional startup costs.

Taxes:  All present government revenue presently spent on healthcare would be placed into the Medicare for All account.

The following new taxes are added and get placed into the same federal account.

  • 6.2% income based healthcare tax by employers – estimated revenue $.63T/yr.  (Example:  For a person earning $50,000/yr. the employer would pay $3,100/yr.  On average an employer today pays $12,600/yr. for family health insurance.  Sanders plan would save the employer about $9,500/yr.)
  • 2.2% income based tax on households – est. rev. $.21 T/yr. (Example: Per Sanders, a family of 4, after taking the standard deductions, would pay 2.2% on their taxable income for healthcare.  That 2.2% would equal $466/yr.  Presently a family pays about $5,000 in premiums plus about $1,300 in deductibles for a total of $6,300/yr.  Thus the family would save over $5,800 annually.)

How can both the employer and the worker save substantially each year and still have quality healthcare?  Because the high money earners (both salary and unearned income) and the wealthiest Americans will pay higher taxes.  And various tax breaks related to company healthcare spending would be eliminated.

  • Increase marginal income tax rates – est. rev. $.11T/yr.

o   To 37% on incomes over $250,000/yr.

o   To 43% on incomes over $500,000/yr.

o    To 48% on incomes over $2 million/yr. (the top 0.08% or approximately 113,000 households)

o    To 52% on incomes over $10 million/yr. (the top 0,01% or approximately 13,000 households)

  • Tax unearned income (capital gains and dividends) the same as income from work – est. rev. $92B/yr.
  • Limit tax deductions for families making over $250,000/yr. – est. rev. $15B/yr.
  • Place a new tax system on the estates of the wealthiest 0.3% of Americans with estates over $3.5 million – est. rev. $21B/yr.
  • Savings from health tax expenditures.  Per Sanders plan “Several tax breaks that subsidize health care (health-related “tax expenditures”) would become obsolete and disappear under a single-payer health care system…” – est. rev. $310B/yr.

Total additional federal revenues per year equal approximately $1.388TRILLION or about $1.4TRILLION.

Sen. Bernie Sanders’ Medicare for All single payer healthcare plan is a healthcare plan that’s smart for kids, working families and seniors.  It’s smart for American corporations facing an unlevel playing field in developed nations that already have single payer healthcare for their workers.

Sanders’ Medicare for All is a revolution I am in favor of.  Are you?

Read more at berniesanders.com/issues/medicare-for-all/ to help you decide how to vote Tuesday, April 5th in the WI presidential primary.

***

Buzz Davis, of Stoughton, treas. Progressive WI – Lets Rebuild America, is a Sanders advocate, a long time progressive activist, a member of Veterans for Peace and a former VISTA Volunteer, Army officer, elected official, union organizer and retired state government planner. This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 
Copyright © 2019. Green Bay Progressive. Designed by Shape5.com