2020 presidential hopeful Elizabeth Warren pledges no middle-class tax hike to pay for 'Medicare-for-all'
Elizabeth Warren releases at $52 trillion 'Medicare-for-all plan' and claims she won't increase taxes on the middle class to pay for it; the 'Outnumbered' panel reacts.
Democratic presidential candidate Elizabeth Warren’s campaign released its long-awaited plan Friday for funding "Medicare-for-all" -- a proposal the campaign estimates would clock in at nearly $52 trillion over the next decade.
Fox News first published details of Warren’s funding plan, which includes a host of new tax increases while claiming the middle class would not face any additional tax burden. The Warren campaign says the plan would include a projected $20.5 trillion in new federal spending, with the rest of the price tag representing existing costs. Already, the Massachusetts senator is facing bipartisan skepticism over the math and the claims that the middle class will be spared.
WARREN'S HEALTH CARE PLAN REVEALED
In case $52 trillion is hard to wrap your head around, here are some stats to help put the figure in perspective.
- Total annual U.S. corporate profits: $2.08 trillion
- Combined net worth of the world's 2,153 billionaires: $8.7 trillion
- Total U.S. national debt: $22.9 trillion
- Total value of the U.S. stock market: $32.3 trillion
- Total value of all U.S. homes: $33.3 trillion
- Total spending on health care in the United States from 1960 to 2017: $59.6 trillion
- How much revenue (taxes) the U.S. government has received in its history: $76.7 trillion
- Total world combined GDP: $86.6 trillion
- How much the U.S. government has spent in its history: $91.7 trillion
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