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Will the tax on companies be more or less under Bernie’s Medicare for all plan?
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February 25th, 2020
from iPhone
I read that Bernie wants to do a payroll tax that is similar to social security; an employee will contribute a percentage of their income and the employer will contribute a percentage above what they pay the employee. If this is correct I have some questions about it.
1. Does it affect all employers large and small?
2. If earners under $29k don’t pay anything will that be done as a reimbursement when they file their federal income tax?
3. Will it be cheaper for employers than what they pay to insure employees now? What will the employers do with that extra money if it is cheaper?
4. If you answered number 3 confirming it’s cheaper for employers, what about employers who right now don’t have to pay anything because they don’t provide health insurance for employees.
5. Will the tax stop at a certain income like SS? If you make over a certain amount you stop being taxed?
6. People who don’t work don’t pay? So, people living off of investments and savings won’t pay in? Or, is all income taxed the same way?
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