Quote:
Originally Posted by HappyTexan
Consultants have recommended both a payroll tax and consumption tax/state tax to pay for it.
The numbers they threw around was 19% additional payroll tax..11% on the employer and 8% on the employee and a 1% tax on gross income.
Now that's today. Vermont is looking to implement this in 2017 which is 4 years out so it could be higher than 19% as time goes on.
Also Vermont is relying heavily on Fed money to subsidize this.
http://www.thesolutionsjournal.com/node/23903
:: Vermont for Single Payer
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We will witness this experiment from the states which I am for. It will be interesting too see the economic impact of high taxation to keep the system afloat. 9% is a good chunk of money that will not be there for retail spending and the effect on employment should not be good.
When you say Vermont is relying heavily on federal subsidies are you referring too that the state will kick every one on Medicaid that qualifies?