Avatar
All Posts by Empower Wisconsin

Warren’s ‘pretend’ Medicare for All plan

Empower Wisconsin | Nov. 5, 2019

Elizabeth Warren rolled out her $52 trillion Medicare for All plan last week — a proposal almost as big as the Democrat presidential candidate’s delusions. 

As Saturday Night Live’s Kate McKinnon (playing the part of Warren) put it in her latest lampoon, “When the numbers are this big they’re just pretend.”

But this Disneyland fantasy would be a nightmare for taxpayers of all types. 

Warren insists the uber wealthy, not middle-income earners, will pick up the tab for the $20.5 trillion in new federal spending the health care plan would bring. 

Brian Riedl, economic policy expert at the Manhattan Institute, is one of many — on both sides of the aisle — skeptical of Warren’s math. 

Promising to shield middle-class families from new taxes, Riedl wrote, forces the candidate to “propose an unrealistic level of health care savings, as well as new taxes on businesses and investors that are nearly unprecedented in the modern economy.” 

“A more realistic accounting of this plan likely leaves a substantial funding hole, not to mention questions about how the economy would respond to the avalanche of taxes,” he asserts in an opinion piece at the Manhattan Institute. 

Medicare faces a $72 trillion shortfall over the next 30 years, something that isn’t fully accounted for in Warren’s plan. And her savings estimates don’t pass the smell test of what many economists believe would be significantly higher national health spending under such a single-payer plan. 

A report by the Committee for Responsible Federal Budgeting notes most independent estimates of Medicare for All show the program would cost the federal government — taxpayers — $25 trillion to $36 trillion over a decade. The Urban Institute has estimated the cost would be about $32 trillion over the period.

“These estimates represent additional costs on top of the $16 trillion the federal government is already projected to spend on major health programs over the next decade,” CRFB notes in its report. 

“Tax increases on high earners, corporations, and the financial sector by themselves could not cover much more than one-third of the cost of Medicare for All,” CRFB concludes. 

As a Fox News perspective piece points out, total annual corporate profits come in at under $2.1 trillion. 

The total value of the U.S. stock market and that of U.S. homes is $32.3 trillion and $33.3 trillion respectively, which would just about cover the federal costs of the socialized health care system over the next decade. 

America can’t afford Warren’s “pretend” numbers. 

Listen to more:

Explore More
Chicoms seek praise from Wisconsin Legislature, get criticism

Chicoms seek praise from Wisconsin Legislature, get criticism

After being asked by the Chinese Communist Government (CCP) to pass a resolution praising their response to the COVID-19 crisis, Wisconsin State Senate President Roger Roth introduced a resolution doing the opposite.

Read More »

April 3, 2020
Karofsky shows liberal stripes in ACLU interview

Karofsky shows liberal stripes in ACLU interview

While it didn’t get a lot of play in the mainstream media, liberal Wisconsin Supreme Court candidate Jill Karofsky’s answers to an American Civil Liberties Union questionnaire really show her judicial activist stripes. 

Read More »

April 3, 2020
Keeping conservative principles in a time of crisis

Keeping conservative principles in a time of crisis

As Gov. Tony Evers pitches a veritable liberal wish list of spending bills to confront the COVID-19 outbreak, Republican legislative leaders say they will stick to their conservative values even in a time of crisis. 

Read More »

April 3, 2020
AG’s office wants to know who’s breaking Evers’ coronavirus law

AG’s office wants to know who’s breaking Evers’ coronavirus law

Wisconsin Attorney General Josh Kaul’s office is seeking information from local law enforcement officials about their contacts with individuals supposedly breaking Gov. Tony Evers’ orders on sheltering at home and practicing social distancing. 

Read More »

April 2, 2020
Stossel: Red tape pandemic

Stossel: Red tape pandemic

With time and lives on the line, our mammoth government lumbered about in reacting to the rapidly spreading COVID-19 outbreak.

Read More »

April 2, 2020
Evers’ growing data problem

Evers’ growing data problem

The Evers administration has issued a spate of orders and directives ostensibly designed to protect the public during the pandemic. But what’s the reasoning behind these decisions? 

Read More »

April 2, 2020
Leave a Comment

Your email address will not be published. Required fields are marked *