Jul 30

“Medicare for All” proposal would cost $32.6 TRILLION; require more than doubling of all taxation

The GDP of the U.S.–the total economic output of the country annually–is about $16 trillion annually. (And this is deceptively large because it includes government spending in addition to private spending–and government funds are actually taken (and therefore reduced) from the private sector).

A new study predicts that Bernie Sanders’ “Medicare for All” plan would cost some $32.6 trillion over ten years. That’s roughly $2.5 to $3 trillion annually.

The findings are similar to several independent studies of the proposal.

Doubling all federal and corporate taxes would not bring in enough money to pay for the proposal.