Harris Health Plan Would Transition to Socialist ‘Medicare for All’ in 10 Years
Democratic presidential hopeful Sen. Kamala Harris (D-Calif.) proposed a health care plan that would transition to a socialist “Medicare for All” system over the course of 10 years.
The Harris plan calls for a slower transition than the one socialist Sen. Bernie Sanders (I-Vt.) has long called for. Sanders envisions a four-year transition during which all private insurance plans would be eliminated in favor of a behemoth government-run system.
During the transition under the Harris plan, private insurance companies would be allowed to operate for 10 more years as long as they follow the rules dictated by the government.
The chief difference between the Sanders and Harris plans is which taxpayers will foot the bill.
According to Sanders, the government takeover of the U.S. health care sector could cost up to $40 trillion over a decade. In comparison, the total current government spending over the next decade is projected to be roughly $60 trillion.
Sanders has said that one option for paying for part of that hefty price would be a 4 percent tax increase on families making more than $29,000 each year. To pay for the difference, Harris wants to tax stock trades at 0.2 percent of the value of the transaction, 0.1 percent for bonds, and 0.002 percent for derivatives.
Harris is calling for exempting households making less than $100,000 per year from that 4 percent tax, with “a higher income threshold for middle-class families living in high-cost areas.”
Sanders estimated that his proposed tax increase would raise $3.5 trillion over 10 years, far short of the $40 trillion cost of Medicare for All. Harris didn’t specify how much revenue would be raised in the scenario she’s proposing.
The Medicare for All proposal is one of the key issues in the Democratic primary. The policy is popular with the far-left base seen as essential for winning a primary race, but is extremely unpopular with voters who want to keep their private insurance plans.
As a result, Harris’s proposal, released a day before the second round of presidential debates begins, essentially seeks to thread together the Democratic Party’s disparate camps, folding to the demands of the far-left base while shielding Harris from blowback from voters who are nervous at the prospect of losing private coverage provided by their employers.
Harris co-sponsored Sanders’s Medicare for All bill in Congress, but has had to repeatedly clarify her positions on fundamental aspects of the Democratic Party’s health care battle, including the role of private insurers.
“I have a vision of what it should be, and the existing plans that are being offered did not express what I wanted,” Harris told reporters while campaigning in Detroit.
Read the entire article here: Harris Health Plan Would Transition to Socialist ‘Medicare for All’ in 10 Years