Sanders' "Medicare for all" Plan Projected to Cost $32.6 Trillion
The cost of U.S. senator Bernie Sanders’ “Medicare for all” plan is projected to cost $32.6 trillion over 10 years, finds a study from the Mercatus Center at George Mason University.
According to the study, the increased costs would equal about 10.7 percent of GDP in 2022, rising to nearly 12.7 percent of GDP in 2031. The report goes on to say doubling all federal individual and corporate income taxes going forward would not raise enough to finance the “Medicare for all” plan as projected. That means that taxes or federal debt would be at unprecedented levels.
The study says this should be discussed before Sanders’ plan is seriously considered.