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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"

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Unrest in Philadelphia after fatal police shooting of Black man

Demonstrators rally on Tuesday near the location where Walter Wallace was killed by two police officers in Philadelphia, Pennsylvania. Photo: Mark Makela/Getty Images

The Pennsylvania National Guard was mobilized Tuesday during a tense second night of protests in Philadelphia over the fatal police shooting of Walter Wallace, a 27-year-old Black man.

Driving the news: Philadelphia Jim Kenney (D) and Police Commissioner Danielle Outlaw said in a joint statement Monday that police were launching a "full investigation" to answer questions that arose from video that captured part of the incident with police.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.

Louisiana braces for 3rd hurricane in 2 months as Tropical Storm Zeta nears

Municipality workers clean the streets of garbage in Playa del Carmen, Mexico, on Tuesday that was left by Zeta, which struck the Yucatan Peninsula as a Category 1 Hurricane a day earlier — causing no major damage to infrastructure. Photo: Medios y Media/Getty Images

Tropical Storm Zeta is expected to strengthen back into a hurricane and bring dangerous storm surge conditions to parts of the northern Gulf Coast on Wednesday, per the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Federal Declaration of Emergency in a letter to President Trump on Tuesday, ahead of the storm's expected arrival south of New Orleans.