There is uncertainty about the health plan proposed by Sen. Elizabeth Warren (D-Mass.), the 2020 presidential candidate, because it involves high costs and it is not clear how it will be funded.
Democrat Warren presented her “Medicare for All” health care bill on Nov. 1, at a total cost of $52 trillion, estimated to increase federal spending by $20.5 trillion, Fox News reported.
The candidate also assured that no middle-class citizen will pay an extra penny of taxes.
This last assertion is questioned by The Atlantic, which presents data according to which additional expenses could be from $31 trillion to $34 trillion, according to estimates by the nonpartisan Rand Corporation, the conservative Mercatus Center of George Mason University, and the center-left Urban Institute.
“Such a plan would cost more than the federal government now spends on Social Security alone or on Medicare and Medicaid combined, according to the most recent projections by the Congressional Budget Office,” the same source reported.
The Atlantic assumes that it will be the middle class who will pay for the excess cost of Warren’s proposed health plan.
Larry Levitt, executive vice president of health policy at the Kaiser Family Foundation, the uncertainty is whether reducing health costs would offset the increase in universal coverage and service expansion proposed by Warren.
“The only way to make that math add up is to pay doctors and hospitals and drug companies a lot less, as Warren has proposed,” Levitt said, according to The Atlantic.
Third Way Executive Vice President Jim Kessler said, “The gap between what she said it will cost and what it will really cost is in the trillions of dollars, and the middle class will be on the hook to fill that gap. My guess is that with accurate numbers, she’s somewhere between $5 trillion and $10 trillion short. (Her plan taps) the rich and corporations as much as possible. Who’s left? The middle class,” quoted by writer Larry Elder.
On the other hand, Warren has created controversy over her proposal to raise taxes for the rich.
In polls Warren’s numbers began to fail after she revealed her wealth tax plan.
The renowned investor Leon Cooperman harshly criticized her, saying, “She represents the worst of politicians,” adding, “Her policies are counterproductive, they are negative for capitalism … You don’t make the poor people rich by making rich people poor.”