Many high profile Democrats have campaigned on “Medicare for All,” a universal healthcare plan under which all Americans would be covered by government-funded healthcare.
But few know how the country would pay for it – including the Chief Executive Officer of the Democratic National Committee (DNC).
“I don’t think we’re there yet,” Seema Nanda said at Yahoo Finance’s “All Markets Summit: America’s Financial Future” on Tuesday.
She was asked by an interviewer how the United States would cover the trillions of dollars per year that it would cost to implement such a healthcare plan. The interviewer cited “credible studies” that would “double everybody’s taxes or maybe triple everybody’s taxes.”
“So, you know, your answer is I don’t know how we’re going to get there, but these are all big conversations that we need to be engaged in,” Nanda continued.
Nanda deflected by calling the GOP’s Tax Cut and Jobs Act “irresponsible.”
“Paying for Medicare for All remains a daunting task for Democrats,” according to a Breitbart report. “Multiple studies have estimated that the plan would cost between $32 and $38 trillion. Mercatus Center scholar Charles Blahous released a study in August that found that Medicare for All will cost $38 trillion over the next ten years, contrary to Sen. Bernie Sanders’ (I-VT) claim that the plan would save America money.”
Now that the Democrats control the House of Representatives, it is possible that some of the new blood, especially unabashed socialist Representative-elect Alexandria Ocasio-Cortez, will make a push to introduce such legislation. She campaigned on universal healthcare, as did Sanders in his popular 2016 presidential campaign.
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