Medicare Math
You want medicare for all you say? Thats the solution? You keep tossing that 3% around like it means something? Welp, here's the numbers:
1. According to Medicare's website, Medicare covers almost one seventh of the population.
2. To be able to do so, it requires 3% of the entire salaries, of every working person in the US.
3. To expland Medicare to cover everyone in the US, you take the rate (3%) and multiply by the 7 (to accomodate the other 6/7 of the population).
4. This means to fund Medicare for all, there needs to be a 21% tax added.
5. It's important to remember that Medicare tax is a flat tax, the rich pays 3% now and will pay 21% later, so will the poor.
2007-08-28
05:22:48
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14 answers
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asked by
Ricky T
6