How would James Smith pay for $32 Trillion “Medicare for All”?

July 30, 2018

“That’s Trillion with a ‘T'”

This morning, the Mercatus Center released a new study that shows the socialist “Medicare for All” plan gaining mainstream Democrat support is projected to cost taxpayers $32 trillion.

Associated Press: Study: ‘Medicare for all’ projected to cost $32.6 trillion

When asked about “Medicare for All” in January, James Smith expressed support for the costly plan. 

WATCHJames Smith: “Absolutely…I certainly believe in it.”

But how does he think we should pay for it? The study concluded that *doubling* all federal individual and corporate income taxes would still not cover the hefty price tag for this plan.

Does James support doubling taxes on South Carolinians to foot the bill for a socialized health care plan that has already failed in liberal California and Vermont? Voters deserve an answer.

Read excerpts from the AP report below.

Associated Press: Study: ‘Medicare for all’ projected to cost $32.6 trillion

“Sen. Bernie Sanders’ ‘Medicare for all’ plan would boost government health spending by $32.6 trillion over 10 years, requiring historic tax hikes, says a study released Monday by a university-based libertarian policy center.

“That’s trillion with a ‘T.’

“The latest plan from the Vermont independent would deliver significant savings on administration and drug costs, but increased demand for care would drive up spending, according to the analysis by the Mercatus Center at George Mason University in Virginia. Doubling federal individual and corporate income tax receipts would not cover the full cost, the study said.

“Also called ‘single-payer’ over the years, ‘Medicare for all’ reflects a longtime wish among liberals for a government-run system that covers all Americans. With Republicans in charge of Congress and the White House, it has little chance.

“But Sanders’ idea has broad rank-and-file support among Democrats, and polls show it also appeals to many independents. Looking ahead to the 2020 election, Democrats are debating whether single-payer should be a ‘litmus test’ for national candidates.

“The Mercatus analysis estimated the 10-year cost of ‘Medicare for all’ from 2022 to 2031, after an initial phase-in. Its findings are similar to those of several independent studies of Sanders’ 2016 plan. Those studies found increases in federal spending over 10 years that ranged from $24.7 trillion to $34.7 trillion.

“Costs have been a stumbling block for state efforts to enact a single-payer system, including in Sanders own state of Vermont.”

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