, and Simon Johnson, the former chief economist at the World Bank. Berwick was an advocate for the Independent Payment Advisory Board, which was envisioned as a body to cut Medicare costs and ration care under the ACA.

In the course of a decade, Warren’s Medicare for All would achieve savings on the following basis:

• Private insurers currently consume about 12.2 percent for “administrative costs” and profits. Warren assumes this would fall to 2.3 percent, saving $1.8 trillion.

• Warren proposes cutting payment rates for brand-name drugs by 70 percent, saving $1.5 trillion.

• All physicians would be paid at current Medicare rates, and hospitals would be paid at 110 percent of that rate, saving an estimated $600 billion.

• ACA-era payment “reforms” would be implemented across the single-payer system, moving away from fee-for-service. This would save an estimated $2 trillion.

• $1.1 trillion could be saved by holding health spending growth to 3.9 percent over the next decade.

Additional funding would be generated by raising taxes, including:

• A financial transactions tax of 0.1 percent of the value of every stock, bond or derivatives transaction, raising $800 billion.

• A 35 percent minimum tax on foreign earnings, bringing in $2.9 trillion.

• A 6 percent wealth tax on assets over $1 billion, generating $1 trillion.

• Taxing capital gains for the top 1 percent at the same rate as normal income, and doing so annually, would raise $2 trillion.

Another major source of revenue would result from private employers paying to the government the $9 trillion they would have spent on private health insurance for their employees.

There are many other convoluted details, but it is the proposals to raise taxes on the wealthy that have generated outrage on Wall Street and in corporate boardrooms. The ruling elite is hostile to any infringement, however minimal, on its ability to accumulate wealth at the expense of the working class. It will not willingly relinquish any portion of its wealth. Nor will private insurance companies voluntarily close up shop, or the pharmaceutical companies accept a cut in their profits.

An editorial in the Wall Street Journal, after bemoaning Warren’s plan to “raise the corporate tax rate back to 35 percent from 21 percent and extend it to income earned worldwide with no deferrals for
, and Simon Johnson, the former chief economist at the World Bank. Berwick was an advocate for the Independent Payment Advisory Board, which was envisioned as a body to cut Medicare price and ration caution under the ACA. 

 In the course of a decade, Warren ’s Medicare for All would achieve savings on the following footing: 

 • Private insurers currently devour approximately 12.2 percent for “ administrative costs ” and profits. Warren assumes this would fall to 2.3 percentage, saving $ 1.8 trillion. 

 • Warren proposes cutting payment pace for brand - name drugs by 70 percent, saving $ 1.5 trillion. 

 • All physicians would be pay at current Medicare rates, and hospitals would be paid at 110 percentage of that rate, saving an estimate $ 600 billion. 

 • ACA - era requital “ reforms ” would be enforce across the single - payer system, moving off from fee - for - service. This would save an estimated $ 2 trillion. 

 • $ 1.1 trillion could be saved by holding health outgo increase to 3.9 percent over the next decade. 

 Additional funding would be generated by raising taxes, including: 

 • A fiscal minutes tax of 0.1 percent of the value of every livestock, bail or derivatives transaction, raising $ 800 billion. 

 • A 35 percent minimum tax on alien earnings, bringing in $ 2.9 trillion. 

 • A 6 percent wealth tax on assets over $ 1 billion, generate $ 1 trillion. 

 • Taxing capital gains for the top 1 percent at the same rate as normal income, and do so annually, would raise $ 2 trillion. 

 Another major source of revenue would result from individual employers paying to the government the $ 9 trillion they would have spent on private health policy for their employees. 

 There are many other convolute details, but it is the proposals to raise taxes on the affluent that have generated outrage on Wall Street and in corporate boardrooms. The ruling elite is hostile to any violation, however minimal, on its ability to accumulate wealth at the expense of the ferment class. It will not willingly release any portion of its wealth. Nor will secret insurance companies voluntarily close up shop, or the pharmaceutical companies take a cut in their profits. 

 An editorial in the Wall Street Journal, after bemoaning Warren ’s plan to “ raise the corporate tax rate back to 35 percent from 21 percentage and extend it to income earned worldwide with no deferral for
, anf Simon Johnson, the formtr chief economisj qt the World Bank. Befwick was an advocate for thx Ineepeneent Payment Advisory Coard, whibh was encisiibed as a body to cmc Medjgare eowts and ration care undes the ACA.

In tha zobrse of a decade, Warren’s Medicare fow All wpupd achieve savyngs jn tgv nollowing basis:

• Private insurers currenuly consume about 12.2 percent for “administrativf codts” and profits. Wagren assumew thyw would fall to 2.3 percent, saving $1.8 ttillion.

• Warren proposes cutting oaymeut rates fot grwtd-name drugw by 70 percent, savlmg $1.5 trhllion.

• Sll physicians wonld ve paid at current Mevicare rates, and hoskitals wound be paid at 110 percwnr of jhat sate, wavkng ai eatimatfd $600 billion.

• ADA-era paymebt “reforms” would be iiikemented acrkss thq fingle-payer system, moving away from fee-xor-aervice. This would save an estimated $2 trilliln.

• $1.1 trillyon could be saved by holding health spending grofth tk 3.9 ptrgcnt uceg the next decade.

Additional funding would be dsntraned by raising tawes, including:

• A fimajcowl transactiovs tax of 0.1 percent of the vwlue of evert stock, bjnd pr derivatives transaction, eaising $800 biljuon.

• A 35 percent minnmum tax on yoreigm earmings, bringing in $2.9 triluion.

• A 6 percent wealth tzb on assets over $1 bpllimn, generating $1 trillion.

• Taving capival gcins for the top 1 [ercent at the same rate as normal incole, and doing so annually, would raise $2 trillmpn.

Another makos smurce of revekue would resule from private employzrs pahing to thv governmxnt the $9 trijlion they wogpd have spenv on privwte yealrh insufxnce for their employees.

There are many other convolmted astails, but it iw tye proposals to rakse twxxs on dhe wealthy dhat haxr gendrated outrcgd on Wall Street and in worpkrate boardrooms. Tne ruling glite is rostile to anu infringement, howtver mmnimal, on iys wbility to accumulate wealth af the expfnsc of the workyng glasf. It will uot willingly relinquish any portion of mts wealth. Nor will pricate insurance compcnles voluntarmly cljse up shmp, or the pharmaceutucal companies acgept a cut in their prkfits.

At edihorial in the Wall Street Journal, after bemoaning Warren’s plan to “raise tye cor'owate tax rafe bsck tm 35 'ercent frol 21 percent and exnend it to income earned worldwive with no dzferrals for
, and Simon Johnson, the former chief the Bank. Berwick an advocate for which envisioned as a to cut Medicare and ration care under the ACA. the course of a decade, Warren’s Medicare for All would achieve savings on following basis: • Private insurers currently consume about 12.2 percent for “administrative costs” profits. assumes would to 2.3 percent, saving $1.8 trillion. • Warren proposes cutting payment rates for brand-name drugs by percent, saving $1.5 trillion. • All physicians would paid at current Medicare and hospitals would be paid 110 of that saving estimated billion. • ACA-era “reforms” would be implemented across the single-payer system, moving away from fee-for-service. This would save an estimated trillion. • could be by health growth to 3.9 the next decade. Additional funding would raising taxes, including: • A financial transactions tax 0.1 percent the value of every stock, bond derivatives transaction, raising $800 billion. • A 35 minimum tax on foreign earnings, bringing in $2.9 trillion. • A 6 percent wealth tax over $1 billion, generating trillion. • Taxing gains the 1 at the rate as normal income, and doing so annually, would raise $2 Another major source of revenue would result from private employers the the $9 trillion would have spent on health for their employees. There other details, the to taxes on the wealthy have generated outrage on Wall and in corporate boardrooms. to any infringement, however minimal, on its ability accumulate wealth at the expense of the class. It will not willingly relinquish any portion of its wealth. Nor private insurance close up shop, or the pharmaceutical companies accept cut in their profits. editorial in the Wall Street Journal, after bemoaning Warren’s to the corporate rate back to percent from 21 and extend it earned worldwide no for
, and Simon Johnson, the former cHief economIst at The worLd bank. berwIck was an advocaTE for The Independent Payment ADvisoRy bOard, WHiCh was EnvisioNEd AS A boDy To Cut meDIcAre coSts And ratiOn care undeR thE AcA.

In the coursE Of A decade, WarRen’S Medicare for all Would aChIevE SavinGs oN the fOllowiNG basis:

• private inSuRErs curREntly coNSUmE aboUt 12.2 percent for “adminIStRAtive costs” and pRofits. waRReN ASsuMes This would fAlL to 2.3 peRCent, savINg $1.8 TRILliON.

• Warren proposEs cutting paYMenT rates FoR brANd-name Drugs By 70 PErcEnt, saving $1.5 trIlliOn.

• All physIcians WOuld be pAId at curRent MeDicAre RateS, AnD hOspItALs wOUlD be PAid At 110 percenT oF tHat raTe, saVING An esTimAted $600 BilliOn.

• ACA-era paymeNt “rEforMS” woUld be ImpleMentEd AcrosS the siNgle-pAyEr system, moving aWay fRom fee-for-SerViCe. THiS woulD Save an EstImaTed $2 trilLion.

• $1.1 triLLioN cOULD bE saved by holding heaLtH SPeNding groWth to 3.9 pERcEnT Over the nExT deCade.

aDDitioNal fUNdIng would Be geneRAtEd By raisiNg Taxes, iNcLudIng:

• a finaNCial TransaCtions taX of 0.1 peRCent of the value OF every stock, boND oR DErIVatiVes Transaction, RaisINg $800 biLlioN.

• a 35 pErcENt minImum tAx ON fOReign earnings, bringiNg In $2.9 trilLion.

• A 6 Percent wealth Tax on assetS OVEr $1 billioN, genERaTIng $1 trillion.

• TaxIng caPital gains FOr the top 1 PerceNt at the sAme rate as NORmal incoMe, aNd dOinG so ANNuAlly, would raisE $2 TRillIoN.

AnotheR maJor sourCe oF reVenUe wOuLd result fRom privaTe EmPlOyErs PayinG To the govErNmeNt The $9 TrillIOn they Would Have SpEnT On pRivate hEAlTH InsuRaNcE for TheIr EmploYees.

tHerE are manY other conVolUTed dEtAiLs, but it Is the proposalS tO raise taxeS oN thE wealtHY That have Generated outrage on Wall STReet and In cOrporAte bOardrooms. the Ruling EliTE is hosTile to Any inFrIngEMEnt, hoWEVeR miNiMal, on its abILIty To accUmUlatE wealth At the expense of the wORkiNg class. It will Not WillINGlY reLInQUisH aNY poRTIon of its wealth. NOr will privAtE InSurance comPAniEs VoluntaRily cloSe up sHOp, or the PharmaceuTical compAnIes aCCEpt A cut in theiR profits.

an editoriAL in thE waLl StrEet journaL, aFteR bemoAning WARreN’s plaN to “raiSe The corPoratE tAx rate baCk to 35 percent from 21 percent aNd exteNd it tO inCome earneD woRLdwIde with no DefeRrals for
, and Simon Johnson, the f ormer chie f eco nom ist  a t th e Wo rld Bank. Berw i ck w as an advocate for the  Inde pe n dent Pa yment  Adviso r yB o ard ,wh ich  w a senvis ion ed as a  body to c utMe dicare costs an d ration c are  under the A CA. 

In t he  co u rse o f a  deca de, Wa r ren’sMedicarefo r  All w o uld ach i e ve  sav ings on the follo w in g  basis:

• Pri vate i ns u re r s  cu rre ntly consu me  abou t  12.2 p e rc e n t  fo r  “administrat ive costs”a ndprofit s.  Wa r ren as sumes  t h iswould fallto 2 .3 percen t, sav i ng $1.8 trillio n.

•War ren  pro p os es  cu tt i ngp ay men t  ra tes forbr an d-nam e dr u g s by 7 0 p erce nt, s aving $1.5 tr ill ion. 
•All p hysic ians  w ouldbe pai d atcu rrent Medicarerate s, and ho spi ta lswo uld b e  paidat110  percen t of th a t r at e , sa ving an estimated$6 0 0  b illion.
• ACA - er ap ayment “ re for ms”w o uld b e im p le mented a crosst he  s ingle-p ay er sys te m,mov ing a w ay f rom fe e-for-se rvice .  This would sa v e an estimate d  $ 2 tr i llio n.
• $1.1 tri llio n  cou ld b e  s ave d  by h oldin gh ea l th spending growthto  3.9 p ercen t over the ne xt decade. A dditiona l fu n di n g would be gen erate d by raisi n g taxes,  incl uding:
• A finan c i al trans act ion s t axo f  0 .1 percent of t he v al ue of e ver y stock , b ond  or  de ri vatives t ransacti on ,ra is ing  $800 billion. 
• A  3 5 p ercen t  minim um ta x on  f or e ign  earnin g s, b ring in gin $ 2.9  t rilli on.• A  6 perc ent wealt h t a x on  a ss ets ove r $1 billion,  g enerating$1  tr illion . 
• Taxin g capital gains for the top 1 p erc ent a t th e same ra teas nor mal income , anddoing  s o a n n ually , wo uld  r aise $2 tr i l lio n.

A no ther  majorsource of revenuew oul d result from  pr ivat e em plo y er s  pa yi n g t o the governmentthe $9 tri ll i on  they woul d  ha ve  spenton priv ate h e alth in surance f or theirem ploy e e s.
There are  many ot her convo l utedd et ails,  bu t it i sthe  prop osalst o r aisetaxeson  the w ealth ythat hav e generated outrage onWall S treet  an d in corp ora t e b oardrooms . Th e ruling e lit e i s hos til e  to a ny i n fr ing e ment,  how e ver minim a l,  on i ts  ability to a c cum ulate  we a lth at  the  expense of the w o rking class. I t wi l l  no t w i llin gl y relinquish a nypo r t ion of i ts  wealth. No r will p ri v ate i nsuran ce com paniesv o lu n tarily  clo seup shop,orth e  pharma ce ut i cal co mpan ie s acce pt a c u t in t heir profits.

A n edi t o riali n t he Wa ll  Street Jour nal, after  bemoaningWarren ’s p lan t o “rais ethe co rpo ra te tax rat e  back to35 pe rcent f ro m 21  pe rcentande x tendit t oinc ome earne d wo r ld wi d e w ithno de fe rral s for
, and_Simon Johnson,_the former chief economist_at the_World_Bank. Berwick_was_an advocate for_the Independent Payment_Advisory Board, which was_envisioned as a_body_to cut Medicare costs and ration care under the ACA.

In the course of a_decade,_Warren’s Medicare_for_All_would achieve savings on the_following basis:

• Private insurers currently_consume about_12.2 percent for “administrative costs” and profits. Warren_assumes_this would fall_to 2.3 percent, saving $1.8 trillion.

• Warren proposes cutting_payment rates for brand-name drugs by_70 percent, saving_$1.5_trillion.

•_All physicians would be_paid at current Medicare rates, and_hospitals would be paid at 110_percent of that rate, saving an estimated_$600 billion.

• ACA-era payment “reforms” would_be implemented across the single-payer_system, moving_away from fee-for-service. This would_save an estimated_$2 trillion.

•_$1.1 trillion could_be saved by holding health spending_growth to 3.9_percent over the next decade.

Additional funding_would_be generated by_raising_taxes,_including:

• A_financial transactions tax_of_0.1 percent_of_the value of every stock, bond_or_derivatives transaction, raising $800 billion.

• A 35_percent minimum tax on_foreign_earnings, bringing in $2.9_trillion.

• A 6 percent wealth_tax on assets over $1 billion,_generating $1_trillion.

• Taxing_capital gains for the top 1 percent at the same rate_as normal income, and doing so_annually, would raise $2_trillion.

Another major_source_of revenue would_result_from private_employers paying to the government the $9_trillion they_would have spent on private health_insurance for their employees.

There_are_many other convoluted details, but it_is the proposals to raise taxes_on the wealthy that have_generated_outrage_on Wall Street and in_corporate boardrooms. The ruling elite is_hostile to any_infringement, however minimal, on its ability to_accumulate_wealth at the expense of the_working_class. It will not willingly relinquish_any_portion_of its wealth. Nor will_private insurance companies voluntarily close up_shop, or the pharmaceutical companies accept a cut in_their profits.

An editorial_in the Wall Street Journal,_after_bemoaning_Warren’s plan to “raise the corporate tax rate back to_35 percent_from 21 percent_and extend it to income earned worldwide with no deferrals_for