Tax for Single-Payer

Most people will see mainly or only a different amount for the Medicare tax from their earned income.

The necessary tax increase is expected to be a few percent. The resulting total Medicare tax on earned income would then be five percent.

$41.67 per month for every $10,000 of earned income:
     $83/month for $15,000/year;
     $208/month for $50,000/year.

The median income for a household in the United States is about $50,000/year.
All family members get health care, because everyone is always covered.

Summary: $2500 per year
for a household earning the U.S. median earned income of $50,000 per year
Note: health care is provided by Improved Medicare for All whether one has earned income or not

Additional Information Based on Rep. Conyers website

To single-payer finance national health insurance the largest source of new revenue and the typical impact on the average American will be an increase in the Medicare tax for payroll.

The current Medicare tax:
      1.45% paid by employers; 1.45% paid by employers
The expected National Health Insurance tax will be a 3.3% increase:
     4.75% paid by employers; 4.75% paid by employees

The above information was double-checked in August 2009 at the Conyers’ website, but other sources of input would indicate that the employer tax will be 4.5%, not 4.75%

Resulting Examples

If the final total of Medicare tax is 5% of earned income, then Improved Medicare for All cost of the health care tax in employee payroll checks will be …
— For $50,000 / year of earned income: the total health care payroll tax: $208 per month for health care
— For $12,500 / year of earned income: the total health care payroll tax: $ 83 per month for health care
— If there is only one person in the family with employment income, then that is the total payroll health care cost, since everyone automatically always has full coverage.

Dramatic Savings

Health insurance premiums for employees and employers going to zero means that there will be a large savings

Sources

U.S. House Resolution H.R. 676
Additional details reported at the Health Care section of Rep. John Conyers’ website http://conyers.house.gov, especially this document:
FINALFinancingforSinglePayeralexiadb.doc