How to fund "Medicare for All"?

Please suggest where the government can get ~$1.7 trillion per year to pay for "Medicare for All":

{That is 80 percent of the portion of health care government does not now pay for, plus enough to increase Medicaid reimbursements to Medicare levels, plus debt service on the estimated $800 billion required to buy out existing health insurance operations.}

Some taxes that might raise this amount:

1. Fifty percent [50pc] surcharge on all pre-credit Federal taxes -- income, estates, Social Security, Medicare, Unemployment, Customs, Excise, et al. Yes, this would push marginal tax rates up over 60 percent for some.

2. Carbon dioxide emissions tax equivalent to $3.00 per gallon on fossil fuels. Electricity bills would also go up about half.

3. Impose a sixteen percent [16pc] Value Added Tax on all spending except health care -- rent, food, automobiles, home ownership, insurance, everything included.

You may propose a mixture of these taxes, or to exempt some uses, or other taxes not listed, as long as the net revenue increase reaches ~$1.7 trillion per year.

All current non-government health care payments would be reduced to about 25 percent of present Medicare allowed prices. Medicare allowed prices would be increased about 25 percent so that hospitals and physicians do not go bankrupt serving us.

No, none of this new revenue would be available to pay for Social Security or infrastructure needs.

Yes, there are other possible tax ideas not listed.

14 Answers

Relevance
  • Anonymous
    3 years ago

    Theoretically it's possible but as a matter of practicality it can't be done by any single means. What will be required to do so will reduce consumption that would be necessary to fund $1.7 Trillion. It's the "1" from $1.7 trillion we would still be hard pressed to fund.

    The only way it could be funded is if Social Security, Medicare and Medicad were streamlined and costs were reduced thus making it far less costly than $1.7 Trillion, it would also have to be simple for the average American to understand or else it will fail. As it is now the only way we can fund it is to print more money and ship it off to foreign banks.

    $1.7 Trillion a year is incomprehensible and is only a number until it accumulates over time and ruins our Economy.

    How would I fund it?

    That works out to be $5,000 per person or $20,000 per family of 4 per in the United States while at least 50% of the population does not even pay this amount to the Federal Government in taxes, thus making it at least $10,000 per person of those who can pay. But even that's becomes faulty given that not all those in the 50% that pay tax can pay $5,000 or $10,000 per year. Once again forget the $1.7 Trillion, we must reform the Social Security, Medicare and Medicaid programs to reduce costs.

    I'm sorry to say these safety nets must be adjusted drastically for the increase in life expectancy and the economic value of the average person at milestone ages.

    Otherwise this is a very complex issue that will take much more thought than what can be written or theorized here. I'm sorry but can't even tell you how much can be saved by the reduction of costs, and there are very few people who can tell you without much research themselves. Though I am confident that it would be necessary to eliminate the "1" in front of the $1.7 Trillion by a combination of factors.

    That number makes me feel totally antiquate in my knowledge and opinion as I'm sweating bullets trying to answer your most difficult of questions which is only six words long. LOL! Ouch!

    • Commenter avatarLog in to reply to the answers
  • Anonymous
    3 years ago

    Well, Spock grampa, you can take your disbelief in my having mildew and mold issues from too much moisture in the house and go shove it up your rapist a ss. I'm sick to death of people like you that molest children and then act as if they lie about it. I hope someone kills you and your family.

    • Commenter avatarLog in to reply to the answers
  • 3 years ago

    about 11 hours in -- no answers worth any points so far.

    • Commenter avatarLog in to reply to the answers
  • Huh?
    Lv 7
    3 years ago

    Most West European countries have comprehensive healthcare systems, the US could have one as well. You just have to stop assuming big business knows best and demand it from your government.

    • Spock (rhp)
      Lv 7
      3 years agoReport

      not a substantial answer -- zero

    • Commenter avatarLog in to reply to the answers
  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 3 years ago

    a government only makes money from tax, services or fines

    other countries manage to do it

    • Spock (rhp)
      Lv 7
      3 years agoReport

      no substance -- zero

    • Commenter avatarLog in to reply to the answers
  • just
    Lv 6
    3 years ago

    You find out the number it costs. Subtract that from the military's budget.

    • Spock (rhp)
      Lv 7
      3 years agoReport

      the military's budget is no where near that large. zero

    • Commenter avatarLog in to reply to the answers
  • Jamey
    Lv 7
    3 years ago

    Assuming you are talking about the USA on this global site which is used by other countries, it might be worth considering that Pr. Trump might be initiating an invasion of oil rich countries (like Syria) in order to create the additional revenue required. Don't forget also, that Venezuela. one the most oil rich countries on the planet. is also ripe for invasion by a country near them. I'm surprised the American conspiracy peddlers haven't flooded the web with these ideas.

    • Spock (rhp)
      Lv 7
      3 years agoReport

      invading countries to seize oil isn't worth the cost. not a substantive answer -- zero

    • Commenter avatarLog in to reply to the answers
  • 3 years ago

    Or how about this. You're responsible for your health care and I am responsible for mine. You don't ask for payment, and neither will I.

    • Commenter avatarLog in to reply to the answers
  • 3 years ago

    I wonder why there was no question when we bailed out banks, increase war spending and start wars and interventions in the middle east and around the world.

    The government doesn't have a debt.

    • Spock (rhp)
      Lv 7
      3 years agoReport

      not a substantive answer -- zero [and the banks paid the government back, with interest.]

    • Commenter avatarLog in to reply to the answers
  • Anonymous
    3 years ago

    From the wall money?

Still have questions? Get answers by asking now.