Over at National Review, John McCormack says that Kamala Harris is being “preposterous” about her Medicare for All plan:
“Senator Sanders says that that is impossible to achieve without a middle class tax hike,” CNN correspondent Kyung Lah says. “I’m not prepared to engage in a middle class tax hike,” Harris replies, suggesting that taxes on Wall Street and financial services can fund the $30 trillion program.
There might turn out to be something preposterous about this eventually, but there’s nothing preposterous about it yet. It all depends on what kind of plan Harris proposes and what the total funding source will be. If Harris were a Republican, she’d just issue a vague, one-page description and then punt on the funding, saying that she’ll work with Congress to figure out the hard stuff. But since she’s a Democrat, I’m sure we’ll eventually get a 30-page white paper about the whole thing.
Politically, I think something along the lines of Joe Biden’s plan is probably the best bet. I’d keep Obamacare; add a Medicare buy-in; phase in a corporate health care mandate that eventually covers everyone, with the option to either provide insurance or pay a payroll tax; and guarantee subsidies such that no one ever has to pay more than 10 percent of their income in premiums. That’s the bare bones, with lots of details to be added. Overall, I’d say the goal should be for public financing to cover 80-85 percent of all health care expenses.