One of Sen. Elizabeth Warren’s (D., Mass.) top economic advisers acknowledged Wednesday that the senator doesn’t have a sufficient tax plan to pay for her proposed single-payer health care system.
“Her taxes as they currently exist are not enough yet to cover fully replacing health insurance,” University of California, Berkeley economics professor Emmanuel Saez, who helped develop Warren’s “wealth tax” proposal, told Bloomberg News.
Warren’s campaign claims to have proposed about $7.3 trillion in tax increases, enough to pay for an agenda it projects will cost about $6 trillion. However, with Medicare for All costing more than $3 trillion a year, experts across the spectrum told Bloomberg the math means she would have to raise middle-class tax rates as well.
“She is offering a Medicare for All plan and not offering even close to enough to pay for it,” the Tax Foundation’s Kyle Pomerleau told Bloomberg. “One place she hasn’t gone yet is raising the existing individual income tax for top earners.” – READ MORE