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Cleita

(75,480 posts)
7. I don't think there are any current numbers, but
Tue Apr 3, 2012, 12:40 PM
Apr 2012

when John Conyers was proposing HR 676 (which got shot down) this is what he had to say under FAQ.

http://www.johnconyers.com/healthcare

How will the universal program be paid for?
First, switching to a single-payer system will lead to billions of dollars saved in reduced administrative costs. Those savings will be passed on through the system and allow coverage for all Americans. Additional savings in the overall cost of health care will come from annual reimbursement rate negotiations with physicians and negotiated prices for prescription drugs, medical supplies and equipment.

Second, a "Medicare For All Trust Fund" will be created to ensure a dedicated source of funding in addition to annual appropriations. Sources of funding will include:

• Maintain current federal and state funding for existing health care programs
• Closing corporate tax loopholes
• Repealing the Bush tax cuts for the highest income earners
• Establish employer/employee payroll tax of 4.75% (includes present 1.45% Medicare tax)
• Establish a 5% health tax on the top 5% of income earners; a 10% tax on top 1% of wage earners
• One quarter of one percent stock transaction tax

Latest Discussions»Issue Forums»Single Payer Health Systems»Hard number to find.»Reply #7