For the fiscal year of 2018, the budget was $4.094 trillion dollars. That’s a lot of money. Now, Democrats are pushing a plan providing Medicare for all. Sounds good until you actually stop and think about it. What percentage of the budget would go to Medicare for All? Would you believe 79.628%? That’s right. Over 10 years the cost of the program would be $32.6 trillion dollars.
So, where would this money come from? Taxes. Lots and lots of taxes. Consequently, no one would escape the taxes. Taxing the rich and businesses won’t do it. But, we are talking about more than just an increase in your income taxes. There will be increases in user fees and other associated payments to the government.
Besides the cost, it will create a severe shortage of doctors and nurses. Medicare payments are very low and young people will look to other professions because with reduced pay it would be impossible to pay off a six-figure student loan debt, especially for surgeons and specialists. Hospitals and X-Ray facilities would not be able to invest much money in new equipment, which would lead to the same long waiting times that Canada and Great Britain already have. Long waits mean some will die needlessly.
The latest plan from the Vermont independent would require historic tax increases as government replaces what employers and consumers now pay for health care, according to the analysis being released Monday by the Mercatus Center at George Mason University in Virginia. It would deliver significant savings on administration and drug costs, but increased demand for care would drive up spending, the analysis found.
Sanders’ plan builds on Medicare, the popular insurance program for seniors. All U.S. residents would be covered with no copays and deductibles for medical services. The insurance industry would be relegated to a minor role.
Above all, under Sander’s plan, the government would work directly with Pharma companies eliminating pharmacies altogether.