Democratic Primaries

HerbChestnut

(3,649 posts)

28. The M4A bill Bernie proposed will reform Medicare in many ways.

Thu Feb 20, 2020, 06:46 PM

Feb 2020

One of which would be how people pay into the program. If you make $29k or below, you pay zero in taxes and still receive full Medicare benefits, which will also be reformed under Bernie's legislation. After the $29k threshold, you will pay a 4% income tax on every $1 after the 29k. For example, if you make $29,001 in a year, you will be taxed 4 cents for the year. If you make $60k in a year, you would pay about $1,250 for the year (or $103/mo). It's a good deal.

EDIT: Also, here's a link to the full text of Bernie's bill for reference.

https://www.congress.gov/bill/116th-congress/senate-bill/1129/text

If I were to vote in a presidential
primary today, I would vote for: Undecided

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

30 replies

= new reply since forum marked as read

Highlight:

The working poor and Sanders M4A. [View all] krissey Feb 2020 OP

First $29k is exempted from taxation. So you'd pay nothing and get comprehensive insurance. HerbChestnut Feb 2020 #1

I am at 26K, I do not make enough to pay my monthly bills. I am about 300-400 a month shy, and that krissey Feb 2020 #2

Okay. In terms of Medicare for All, the first 29k of income is exempt from taxation. HerbChestnut Feb 2020 #3

And i get to that magical 29K and can cover my bills and he takes that comfort from me krissey Feb 2020 #6

4 cents for every dollar over 29k. You will never find a price that good on the private market. HerbChestnut Feb 2020 #11

What part of you would pay nothing and get comprehensive coverage do you not get? Hassin Bin Sober Feb 2020 #5

Wow. You all must be well over 30k if you feel it is such a comfortable place to be. krissey Feb 2020 #7

I am slightly over 30k, and it's not a comfortable place to be. I also don't have health insurance. HerbChestnut Feb 2020 #10

Not to mention all of the ways in which society, as a whole, would benefit. Garrett78 Feb 2020 #24

This message was self-deleted by its author Rilgin Feb 2020 #18

So, you are calling me a liar? You might recalculate your numbers. krissey Feb 2020 #20

This message was self-deleted by its author Rilgin Feb 2020 #22

24,910. a year. 11.75 an hour, 40 hr a week, 53 weeks a year. krissey Feb 2020 #23

Apoligies for posting something wrong. Rilgin Feb 2020 #25

Oh, and I get a $100 Christmas bonus that goes into yearly income. Maybe I have covered it all krissey Feb 2020 #21

Here is another perspective. Minimum wage is increasing in increment over the next 3 yrs by $2.25. krissey Feb 2020 #4

First 29k is exempt from taxation. HerbChestnut Feb 2020 #8

So, I make it to 32K which is my goal to cover cost the 4% tax will be on 3000. krissey Feb 2020 #13

No. HerbChestnut Feb 2020 #16

Thank you. My bad. Yes. Gotcha. krissey Feb 2020 #19

Then there is something about income tax going up and not sure what that is about. krissey Feb 2020 #15

The 4% I keep mentioning in other comments is the... HerbChestnut Feb 2020 #17

You apparently do understand how tax brackets work. Hassin Bin Sober Feb 2020 #9

Need an explanation MaryMagdaline Feb 2020 #26

The M4A bill Bernie proposed will reform Medicare in many ways. HerbChestnut Feb 2020 #28

Thanks. Much appreciated MaryMagdaline Feb 2020 #29

To be fair, Sanders also wants to raise your income to $15 / hour Yavin4 Feb 2020 #12

Then he would tax it. Blue state already wants to do that and it is going up incrementally. krissey Feb 2020 #14

Need explanation MaryMagdaline Feb 2020 #27

I have paid into Medicare for 43 years. Zolorp Feb 2020 #30