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Old 10-11-2019, 10:15 AM   #83 (permalink)
slowmover
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Quote:
Originally Posted by Xist View Post
Does anyone want to discuss Medicare for All? Bernie recently said that the top 0.1% would pay for it, but I cannot find any numbers for how much income they average, just their wealth. Whatever DQYDJ.com is, they say the average 0.1% individual is worth $43,090,281. They also say there were 126.0 million households in the United States in 2017, so the top 0.1% is 126,000 families. https://dqydj.com/net-worth-brackets...ts-one-percent

$43,090,281 x 126,000 = $5.43 trillion.

How much would Medicare-for-all cost? Sanders and Ocasio-Cortez both cited a study from George Mason University saying:

https://www.factcheck.org/2018/08/th...icare-for-all/

I do not know how you would seize the assets of millionaires and billionaires, but 100% of it would cover 16.65%

According to that DQYDJ.com page, the top 10% are worth on average $1,182,390.36. That would be 12,600,000 families, worth a total of almost 15 trillion.

That is still less than half what would need to cover it for ten years.

The net worth of the richest 90%, according to DQYDJ.com totals just under $29 trillion, so how in the world would you finance it when it costs more than every American is worth?

The bottom 10% have a negative net worth, so I excluded them.

Elizabeth Warren also promotes Medicare for All.

https://www.politifact.com/truth-o-m...uch-bottom-90/

If 100% of the top 90% would be insufficient, 2-3% of the top 10-11% would be wholly inadequate.

The problem is that Medicare only pays 60% as much as insurance. Hospitals do not profit from Medicare, they lose money. They profit off of insurance, which may be charging too much, but 40% extra for all services?

“You don’t need insurance companies for Medicare for all,” Dr. Gaffney added. “You need hospitals.”

"The majority of hospitals are nonprofit or government-owned."

https://www.nytimes.com/2019/04/21/h...hospitals.html
1). No untaxed property. Eliminate capital gains tax. All income treated as same. Stocks, bonds, etc. Own it 3/100s of a second, and pay.

2). No trusts, charities or other tax-avoidance instruments .

3). Inheritance limited to $2-million in a lifetime. Never more than $1-million per time.

4). No income cap on SS/FICA contributions.

5). And the USA needs to quit paying $500-billion annually on the fictitious national debt.

As much loot also is illegal gains (all drugs controlled by ultra-rich thru CIA, etc) using NSA to shut that down should handily start the shooting portion of the current domestic war.
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