Tuesday, January 22, 2019

'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: --->
Read the rest from Betsy McCaughey HERE.

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