'Medicare-for-All' Would Take Most of Your Paycheck
In a crowded field of Democrats vying for the presidency in 2020, one thing stands out. "Medicare-for-all" tops their campaign promises. On Sunday, the latest to announce, former Obama cabinet official Julian Castro, pledged to make Medicare-for-All a reality.
But these candidates would rather walk on hot coals than tell you what "Medicare-for-all" costs: a whopping $32 trillion over 10 years. To raise that, all taxpayers, not just the rich, would have to hand a gut-wrenching share of their paycheck to Uncle Sam, based on Congressional Budget Office revenue tables.
A single guy earning $82,500 a year, and currently paying a 24 percent marginal rate, would be hit with a 60 percent tax rate. A couple reporting $165,000 in income would also see their marginal rate soar from 24 percent to 60 percent. No more dinners out or family trips. Goodbye to their standard of living.
And goodbye to America's standard of care. Liberals want to keep the name Medicare, but change everything else. The result will be stingy care for all. Here's why:
Currently, Medicare pays doctors and hospitals about 87 cents for every dollar's worth of care, according to the American Hospital Association. Why do doctors and hospitals go along with the shortchanging? Because they can shift their unmet cost onto younger, privately insured patients. But "Medicare-for-all" outlaws private insurance. All patients would be underpaying, leaving hospitals with less money. "Many hospitals wouldn't be able to keep their doors open," says Chip Kahn of the Federation of American Hospitals. Those that do will be jamming more beds in a room, and making patients wait longer for a nurse.
That could be you. If you have insurance now, you won't be allowed to keep it. Nationwide, the 156 million people getting coverage through a job would be forced to give it up. Employers and unions would be barred from covering workers or their families. Public unions are already protesting. Everyone would get the same coverage, employed or not. What's the incentive to work?
https://townhall.com/columnists/betsymccaughey/2019/01/16/medicareforall-would-take-most-of-your-paycheck-n2539105