We present the macroeconomic and demographic effects of a stylized mandatory single-payer healthcare system (“Medicare for All” or “M4A”) system under three different financing mechanisms: premiums, payroll, and deficits.
Senator Sanders’ Medicare for All (S.1129)
We estimate the budgetary, economic, health and health coverage effects the Medicare for All Act of 2019 (S.1129) introduced by Senator Sanders, which would provide universal coverage, eliminate all private and public health insurance programs, and expand Medicare to cover additional benefits. More information on the specifics of the act can be found in our analysis of the estimate.
The Biden Tax Plan
We estimate the budgetary, distributional and economic effects over the 10-year budget window (2021 - 2030) of Former Vice President Joe Biden's tax plan, which raises taxes on high-income households through ten specific proposals, united around the common theme of raising taxes on capital income. Detailed summaries of each proposal can be found in our analysis of the estimate.
Senator Bernie Sanders' Wealth Tax
We estimate the budgetary and economic effects over the 10-year budget window (2021 - 2030) of Senator Bernie Sanders proposal for a graduated wealth tax starting at 1 percent tax on married couples’ net worth above $32 million, 2 percent tax on net worth from $50 to $250 million, 3 percent tax from $250 to $500 million, 4 percent tax from $500 million to $1 billion, 5 percent tax from $1 to $2.5 billion, 6 percent tax from $2.5 to $5 billion, 7 percent from $5 to $10 billion, and 8 percent tax on wealth over $10 billion. For unmarried individuals, the net worth cutoffs for these brackets are halved.
Senator Bernie Sanders' Estate Tax
We estimate the budgetary effects over the 10-year budget window (2021 - 2030) of Senator Bernie Sanders’ estate tax proposal to lower the exemption to $3.5 million for singles and $7 million for married couples as well as create four new brackets: estate values between $3.5 - $10 million are taxed at 45 percent; estate values between $10 - $50 million, at 50 percent; estate values between $50 million - $1 billion, at 55 percent; and, estate values above $1 billion, at 77 percent.
Senator Michael Bennet’s “The Real Deal” Tax Plan
We estimate the budgetary effects of five major tax proposals included in Senator Michael Bennet’s “The Real Deal” tax plan over the 10-year budget window (2020 - 2029).
Senator Elizabeth Warren’s Wealth Tax
We estimate the budgetary and economic effects of Senator Elizabeth Warren's proposal for a wealth tax equal to 2 percent of net worth above $50 million and 6 percent of net worth above $1 billion, which is enacted on January 1st, 2021.
Middle-Bracket Rate Cut
We estimate the budgetary, distributional, and economic effects (relative to current law) of lowering the marginal tax rate for the current 22 percent individual income tax bracket to 15 percent, beginning in tax year 2020. We consider a scenario in which this rate is permanently lowered and a scenario in which it is allowed to revert to 25 percent beginning in tax year 2026, as scheduled under current law.
A Carbon Tax of $30 per ton
We estimate the budgetary and economic effects of a new carbon tax of $30 per ton of emissions, which is enacted on January 1st, 2021, rising by inflation plus 5 percent through 2050.
Raising the Social Security Taxable Maximum
We estimate the budgetary, economic and distributional effects of raising the OASDI taxable maximum to $300,000. The policy would be enacted on January 1st, 2021.
A 1% Value-Added Tax
We estimate the budgetary and economic effects of a new broad-based 1 percent value-added tax (VAT) with a progressive universal rebate calculated based on earnings, which is enacted on January 1st, 2021.
Eliminate Itemized Deductions
We estimate the budgetary, economic and distributional effects of eliminating all itemized deductions. The policy would be enacted on January 1st, 2021.
Increase Tax Rates on Capital Gains & Dividends
We estimate the budgetary and economic effects of increasing the top rate on long-term capital gains and qualified dividends from 20 percent to 24.2 percent. The policy would be enacted on January 1st, 2021.
The Social Security 2100 Act
Please see our previously published analysis.
Payroll Tax Holiday
Please see our previously published analysis.
Trade War Scenarios
Please see our previously published analysis.
Options to Increase Charitable Giving Using Tax Incentives
Please see our previously published analysis.
The $2 Trillion Congressional Democrat and White House Infrastructure Proposal
Please see our previously published analysis.
Options to Return Social Security to Financial Balance
Please see our previously published analysis.
70% Top Marginal Rate
Please see our previously published analysis.
