It will cost $2.2 trillion to make public colleges, universities and trade schools tuition-free and to cancel all student debt over the next decade. It is fully paid for by a modest tax on Wall Street speculation that will raise an estimated $2.4 trillion over ten years. Click here to read the plan.
Bernie’s bill to expand Social Security will increase benefits for low-income senior citizens and people with disabilities by more than $1,300 a year. It is fully paid for by making the wealthiest 1.8 percent of Americans – those with incomes over $250,000 a year – pay the same rate into Social Security as working families.
This bill will also extend the solvency of Social Security into the year 2070 – ensuring that Social Security can pay every benefit owed to every eligible American for the next 50 years.
Click here to read the plan.
Bernie’s proposal to guarantee housing as a human right and to eliminate homelessness will cost $2.5 trillion over the next decade. It is fully paid for by a wealth tax on the top one-tenth of one percent – those who have a net worth of at least $32 million. (Bernie’s wealth tax will raise a total of $4.35 trillion.)
Click here to read Bernie's plan to tax on extreme wealth.
Bernie’s proposal to guarantee universal childcare and pre-school to every family in America who needs it will cost $1.5 trillion. It is fully paid for by a wealth tax on the top 0.1 percent – those who have a net worth of at least $32 million. (Bernie’s wealth tax will raise a total of $4.35 trillion.)
Click here to read the tax plan.
Bernie has introduced a proposal to eliminate all of the $81 billion in past due medical debt held by 79 million Americans. It is fully paid for by establishing an income inequality tax on large corporations that pay CEOs at least 50 times more than average workers. .
Click here to read the tax plan.
The $16.3 trillion climate change proposal that Bernie has introduced will fundamentally transform our energy system away from fossil fuel and towards energy efficiency and renewable energy. It will also create 20 million good-paying union jobs in the process.
It is fully paid for by:
Click here to read the tax plan.
According to a February 15, 2020 study by epidemiologists at Yale University, the Medicare for All bill that Bernie wrote would save over $450 billion in health care costs and prevent 68,000 unnecessary deaths – each and every year.
What our current system costs over the next decade:
Over the next ten years, national health expenditures are projected to total approximately $52 trillion if we keep our current dysfunctional system.
How much we will save:
According to the Yale study and others, Medicare for All will save approximately $5 trillion over that same time period.
$52 trillion - $5 trillion = $47 trillion total
How we pay for it:
Current federal, state and local government spending over the next ten years is projected to total about $30 trillion.
The revenue options Bernie has proposed total $17.5 Trillion
$30 trillion + $17.5 trillion = $47.5 Trillion total
Since 2016, Bernie has proposed a menu of financing options that would more than pay for the Medicare for All legislation he has introduced according to the Yale study.
These options include:
In 2018, the typical working family paid an average of $6,015 in premiums to private health insurance companies. Under this option, a typical family of four earning $60,000, would pay a 4 percent income-based premium to fund Medicare for All on income above $29,000 – just $1,240 a year – saving that family $4,775 a year. Families of four making less than $29,000 a year would not pay this premium.
(Revenue raised: About $4 trillion over 10 years.)
In 2018, employers paid an average of $14,561 in private health insurance premiums for a worker with a family of four. Under this option, employers would pay a 7.5 percent payroll tax to help finance Medicare for All – just $4,500 – a savings of more than $10,000 a year.
(Revenue raised: Over $5.2 trillion over 10 years.)
(Revenue raised: About $3 trillion over 10 years.)
(Revenue raised: About $700 billion over 10 years.)
(Revenue raised: About $400 billion over 10 years.)
(Revenue raised: About $2.5 trillion over 10 years.)
(Revenue raised: $336 billion over 10 years.)
(Revenue raised: $3 trillion ,of which $1 trillion would be used to help finance Medicare for All and $2 trillion would be used for the Green New Deal.)
