Progressives’ wealth taxes won’t even come close to funding their pet projects

Published January 31, 2019 8:26pm ET



The laundry list of left-wing programs touted by the expanding progressive wing of the Democratic Party just keeps growing. Also adding up: the trillions of dollars Democrats will have to come up with to fund their authoritarian adventures.

A study of “Medicare for all,” the single-payer healthcare program designed by Sen. Bernie Sanders, I-Vt., estimated (under favorable assumptions) that it would cost $32.6 trillion over its first ten years. This estimate is likely lower than the actual projected cost, as the economists studying the system assumed that physicians and hospitals would accept a 40 percent cut in their reimbursement rate. In reality, this would probably result in a mass exodus of providers from the market as seen in France, where physicians take home about half of what American doctors earn.

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