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Financing full-blown, single-payer Medicare for All — which is estimated to cost roughly $30 trillion over a decade — would require aggressive changes in taxes, spending or borrowing, according to an analysis by the Committee for a Responsible Federal Budget.

Between the lines: "Tax increases on high earners, corporations, and the financial sector by themselves could not cover much more than one-third of the cost of Medicare for All," the report concludes — meaning that the middle class would be forced to shoulder some of the burden.

Yes, but: As with everything, this would create winners and losers. Plenty of people would end up paying less in taxes than they currently pay for private health care.

  • The costs of "Medicare for All" are also scalable, based on how generous the coverage is and how much providers are paid.

Some of the ways to pay for "Medicare for All," per CRFB, include:

  • A new 32% payroll tax on wages
  • An additional 25% income tax
  • A 42% value-added tax on consumption
  • A "public premium" averaging $7,500 per capita – or $12,000 per person who wouldn't otherwise be on public insurance
  • More than doubling all individual and corporate income tax rates
  • Reducing non-health federal spending by 80%
  • More than doubling the national debt

The bottom line: These policies would have massive economic impacts, reverberating far beyond health care.

Go deeper: How your health care would change under "Medicare for All"

Go deeper

Trump tightens screws on ByteDance to sell Tiktok

Illustration: Aïda Amer/Axios

President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 21,056,850 — Total deaths: 762,293— Total recoveries: 13,100,902Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 5,306,215 — Total deaths: 168,334 — Total recoveries: 1,796,309 — Total tests: 65,676,624Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health — FDA releases first-ever list of medical supplies in shortage.
  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.