No, my statement is factually correct. Medicare for All would not require new taxes. You are assuming I implied budget neutrality, which is false. The government could opt to issue bonds, or it could just revoke the arbitrary rule that the federal reserve cannot overdraw the Treasury General Account at the Fed. It doesn’t really matter as the net result is virtually identical. Either way, as with all federal spending, the government creates money when it spends and cancels it when it taxes. There is absolutely no reason, as a matter of fact, why money ‘cancellation’ would be necessary for M4A, especially given the deflationary effects of eliminating the insurance industry.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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