Elizabeth Warren releases Medicare For All plan

[Economy 53,173]

13 minutes ago, Born To Slay said:

Here’s the thing about taxes tho, just so ur aware. The American public actually already pays taxes for much of the healthcare system either to government programs or subsidies for private insurance companies. About a third of Americans are on either Medicare or Medicaid. So that’s 35% right there directly insured by the government. On top of that, people buying insurance under Obamacare plans are often eligible for subsidies to buy private insurance and employers can deduct significant health insurance expenses as well. So when u redirect the public funding and end the tax breaks, you’re already a significant portion the way there. So that’s why in America taxes on the employer side and taxes on the rich COULD work. 

Ok. Fair enough

 

i think military cuts and slightly higher taxes on very wealthy might be preferable

 

id be weary of making employers shouldering more costs. Could affect hiring or wages... A lot of businesses have thin profit margins so if the plan involves them paying more id be weary

 

i still think a hike on Capital gains (above a certain profit threshold to target only wealthy) is still the best way to get more revenue from wealthy individuals in a non problematic and fair way

 

Capital gains is how the ultra wealthy grow most of their wealth yet it gets taxed a lower rate than high income brackets

 

the result is that the upper middle class (those making 6 figure salaries) end up shouldering the heaviest tax loads

 

A big name Lawyer or known surgeon that makes $300,000 a year pays high taxes (close to half their income depending on the State), but a Billionaire pays a lower rate than that upper middle class fellow which isnt fair

 

Here in Canada its the exact same problem with the tax structure. Here capital gains get taxed according to your income bracket but only 50% of profits are taxable. That means the ultra wealthy which make most of their wealth thru investments literally pay half the tax rate of a doctor that is in the 6 figures. Thats preposterous

 

we need to target the top 0.1% that hold so much of the wealth and one way to do that is to stop taxing capital at a lower rate than labor (income taxes)

[Born To Slay 10,996]

1 minute ago, Economy said:

Ok. Fair enough

 

i think military cuts and slightly higher taxes on very wealthy might be preferable

 

id be weary of making employers shouldering more costs. Could affect hiring or wages... A lot of businesses have thin profit margins so if the plan involves them paying more id be weary

 

i still think a hike on Capital gains (above a certain profit threshold to target only wealthy) is still the best way to get more revenue from wealthy individuals in a non problematic and fair way

 

Capital gains is how the ultra wealthy grow most of their wealth yet it gets taxed a lower rate than high income brackets

 

the result is that the upper middle class (those making 6 figure salaries) end up shouldering the heaviest tax loads

 

A big name Lawyer or known surgeon that makes $300,000 a year pays high taxes (close to half their income depending on the State), but a Billionaire pays a lower rate than that upper middle class fellow which isnt fair

 

we need to target the top 0.1% that hold so much of the wealth and one way to do that is to stop taxing capital at a lower rate than labor (income taxes)

Ideally I agree with u on the employer thing but practically, it’s be hard to take their payment out if the equation because in the United States, employer sponsored insurance is the majority. Almost half of Americans get insurance from their employer. So if we did away with that, millions would pay more u unless their employers converted the health insurance costs that they are they are no longer paying into raises for those employees. It would be hard to do that though so practically it may be best to just keep some tax on the employer side. 
 

as for the capital gains hike and military cuts, I completely agree. 

[Economy 53,173]

1 minute ago, Born To Slay said:

Ideally I agree with u on the employer thing but practically, it’s be hard to take their payment out if the equation because in the United States, employer sponsored insurance is the majority. Almost half of Americans get insurance from their employer. So if we did away with that, millions would pay more u unless their employers converted the health insurance costs that they are they are no longer paying into raises for those employees. It would be hard to do that though so practically it may be best to just keep some tax on the employer side. 
 

as for the capital gains hike and military cuts, I completely agree. 

True. Here in Canada most health insurance plans are also thru work but its different. Its more for the private segments of healthcare we dont have universal healthcare for like dental, vision care, medications etc

 

There is debate about a National Pharmacare here so we could have Government coverage like in Europe. I hope we get it!

 

But yeah back on topic. If Capital Gains taxes were raised to the same levels of income taxes, government revenue would raise several percentage points

 

its better than Corporate Tax hikes tbh. People think if Corporate Tax hikes as a tax on the rich but people forget average people are shareholders too. Even if they didnt buy them directly their pension funds are supported by stocks. Also higher taxes on Corporations may result in them passing on higher costs to consumers so in the end its a middle class tax hike too

 

However when u raise Capital Gains Tax (especially if the hike is only above a certain threshold so peoples retirement investments wouldnt be affected with higher taxes), then you are specifically targeting ONLY the very wealthy individuals

 

As u may have noticed in past threads, im very pro tax hikes on Capital Gains. Their lower rate than income taxes is literally what makes most Countries tax systems regressive in nature and contribute to wealth inequality by allowing ultra wealthy to compound compound their wealth with little effort and hoard it all and have it pile up cuz their gains are literally taxed so low

[Born To Slay 10,996]

7 minutes ago, Economy said:

True. Here in Canada most health insurance plans are also thru work but its different. Its more for the private segments of healthcare we dont have universal healthcare for like dental, vision care, medications etc

 

There is debate about a National Pharmacare here so we could have Government coverage like in Europe. I hope we get it!

 

But yeah back on topic. If Capital Gains taxes were raised to the same levels of income taxes, government revenue would raise several percentage points

 

its better than Corporate Tax hikes tbh. People think if Corporate Tax hikes as a tax on the rich but people forget average people are shareholders too. Even if they didnt buy them directly their pension funds are supported by stocks. Also higher taxes on Corporations may result in them passing on higher costs to consumers so in the end its a middle class tax hike too

 

However when u raise Capital Gains Tax (especially if the hike is only above a certain threshold so peoples retirement investments wouldnt be affected with higher taxes), then you are specifically targeting ONLY the very wealthy individuals

 

As u may have noticed in past threads, im very pro tax hikes on Capital Gains. Their lower rate than income taxes is literally what makes most Countries tax systems regressive in nature and contribute to wealth inequality by allowing ultra wealthy to compound compound their wealth with little effort and hoard it all and have it pile up cuz their gains are literally taxed so low

I have noticed and I get why. I completely agree. Taxing individuals is def better then taxing companies.

[HorusRa2 5,005]

Also. Can we talk? Y’all gonna try praising a plan that has a 10 year transition??? The ****

[Born To Slay 10,996]

10 minutes ago, HorusRa2 said:

Also. Can we talk? Y’all gonna try praising a plan that has a 10 year transition??? The ****

The transition isn’t included here tho