This will not end well:
10 Medicare for All and Graham-Cassidy Highlights, for Agents
Medicare for All
Sanders and other bill supporters say they based their new bill on earlier Medicare for All bills introduced by Rep. John Conyers Jr., D-Mich.
The bill would:
1. Provide complete coverage for all medically necessary acute care and short-term care, including dental, vision and audiology care. It would not cover long-term care, but it would require states to spend at least as much on long-term care services as they do now.
2. Eliminate all cost-sharing for medically necessary care other than up to $200 in out-of-pocket costs per year for prescription drugs.
3. Ban the sale of private health insurance that duplicated Medicare for All program coverage. An insurer could, however, still cover services that were not medically necessary, such as cosmetic surgery.
4. Encourage patients to protest discrimination on the basis of "race, color, national origin, age, disability, or sex, including sex stereotyping, gender identity, sexual orientation, and pregnancy and related medical conditions" by filing lawsuits in any district court of the United States having jurisdiction over the parties.
5. Raise revenue for the program partly by:
Charging employers 75% of what they are currently paying for health benefits, or 7.5% of payroll, whichever was higher.
Charging families 4% of income for coverage.
Eliminating the current group health tax exclusion.
Raising marginal tax rates on households earning more than $250,000 per year, to a maximum of 52% of income for income over $10 million.
Taxing capital gains and dividends the same as income from work.
Capping itemized deductions at 28% for households making over $250,000 per year.
Expanding the estate tax, and increasing the tax rate to 55% for an estate with a value over $50 million, with a special 10% surtax for an estate with a value in excess of $500 million, or $1 billion for a married couple. That means the total estate tax for a billionaire couple could be 65%.
Getting rid of "grantor retained annuity trusts," or GRATs, and other types of trusts and valuation techniques now used to minimize estate taxes.
Imposing a 1% annual wealth tax on households in the top 0.1% in terms of wealth. (If the tax took effect today, it would apply to households with more than $21.5 million in wealth.)
Change rules that help some taxpayers avoid the current Affordable Care Act 3.8% Medicare surtax and the ACA net investment tax.