How do we pay for Medicare for all?

Study: ‘Medicare for all’ projected to cost $32.6 trillion

The idea won broad rank-and-file support after Sanders ran on it in the 2016 Democratic presidential primaries. Looking ahead to the 2020 election, Democrats are debating whether single-payer should be a “litmus test” for national candidates. The Mercatus analysis estimated the 10-year cost of “Medicare for all” from 2022 to 2031, after an initial phase-in. Its findings are similar to those of several independent studies of Sanders’ 2016 plan. Those studies found increases in federal spending over 10 years that ranged from $24.7 trillion to $34.7 trillion. 

So let's split the difference here and round off for the sake of simplicity. Taking an average between the low study that finds a $24.7 trillion ten year price tag and the high study that states it will cost $34.7 trillion, we get $29.7 trillion or approximately $30 trillion over 10 years. That's about $3 trillion dollars a year. That is between four and five times what we spend on our entire military, and about 75% of what we currently spend all together (approx $4 trillion)

Ocasio-Cortez has it all figured out!
See talked to an Nobel Peace winning economist!

So as it stands, we spend approximately $2.5 trillion a year on Mandatory spending (which includes all of our entitlement spending). The "Discretionary spending" (which includes all military spending) is less than half of that number (or approximately $1.2 trillion).

So how could you pay for "another" $3 trillion a year in mandatory entitlement spending? Well here are some ways:

• Triple our individual income tax (whatever you pay now in taxes, triple it).
• Increase our Payroll taxes (medicare, medicaid, etc) by approximately 250%.
• Increase Corporate Income taxes by 10 times.
• Double all three (income, payroll, corporate). 

Now, of course, you won't hear those solutions from anyone who is actually pushing for a "medicare for all" plan. People would be outraged if their taxes doubled or tripled. Rather supporters of "free stuff" will whitewash the situation by suggesting that the $30 trillion can be paid for through slashes to defense (which in total accounts for about $600-700 billion per year), raising taxes on corporations (which currently brings in just under $300 billion), raising taxes on the rich, and otherwise cutting waste in the approximate $600 billion "non-defense" discretionary spending.

So how to other countries pay for it? Well in places like Germany, people still purchase supplemental insurance, because their universal coverage only covers the bare necessities. In places like Sweden, they close their borders to immigration for the most part, and require those who do enter to pay a substantial citizenship fee. Also, none of those countries have 330 million people to work with, with people pouring over the borders wanting in.

The reality is that if the United States wants universal healthcare, then we have to figure out how to pay for it. Simply stating that other countries do it, isn't even close to an answer.