Elizabeth Warren finally has a plan for paying for 'Medicare for All'
| EDITOR'S NOTE
Hello,
For months, Sen. Elizabeth Warren dodged questions on whether she would raise taxes on the middle class to pay for "Medicare for All." All she would say is that their costs would go down. It seemed like a way to avoid saying that, yes, their taxes would indeed go up even as their net costs decreased.
On Friday, however, Warren finally revealed her plan to pay for the ambitious, government-run health insurance program – and she pledged that she would not have to raise taxes on the middle class. Over a decade, the Democratic presidential contender wrote, her plan would end up costing the country "just under" the $52 trillion estimated cost of the current system. That would include $20.5 trillion in new federal spending, much of which would come from taxing the rich.
In fact, her plan includes an extra special surprise for American billionaires. Her proposed wealth tax on $1 billion and above would double from 3% to 6% to help pay for Medicare for All.
That touch turned out to be incredibly well-timed for Warren, as she is embroiled in a potentially politically rewarding public battle with billionaire investor Leon Cooperman. He sent Warren a letter, obtained by CNBC's Brian Schwartz, slamming her wealth tax proposal and accusing her of treating him like "an ungrateful child."
Cooperman is slated to appear on CNBC's "Halftime Report" at noon Monday. Be sure to tune in to hear what he thinks about Warren's latest "soak-the-rich" position.
Thanks for reading. Have a nice weekend.
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