BUTTIGIEG: Raise Corporate Tax Rate Back to 35% to Cover Health Care

‘The problem isn’t just how she talks about it; the problem is the multi-trillion-dollar hole…’

(Claire Russel, Liberty Headlines) Presidential hopeful Pete Buttigieg might not have endorsed Bernie Sanders’s “Medicare for All” plan, but he’s still planning on introducing a $1.5 trillion health care bill “for those who want it” if elected.

To pay for it, Buttigieg  said Sunday on NBC’s “Meet The Press,” he is considering overturning President Donald Trump’s tax cuts and returning to the 35-percent corporate tax rate.

“So you basically want to just roll back the entire corporate tax cut?” NBC’s Chuck Todd asked, to which Buttigieg nodded and agreed.

Buttigieg also said he would lower costs by imposing penalties on pharmaceutical companies that increased drug prices.

The South Bend, Indiana mayor has touted a version of “Medicare for All” that would apply only to those who choose to buy into it.

In application, however, middle class Americans would bear the weight of Buttigieg’s health-care plan just as much as they would under Sanders’s.

In addition, rolling back the corporate tax cut would do more damage to the economy long-term, according to the nonprofit Americans for Tax Reform.

“State corporate taxes average 6.0 percent across the U.S., so if Buttigieg reversed the tax cuts he would end up imposing a combined average corporate rate of 41 percent,” the group said.

This means that the cost of utility bills across the U.S. would skyrocket, and families would take home less in their paychecks every month.

Buttigieg’s corporate tax hike plan comes in response to his attacks on Sen. Elizabeth Warren, D-Mass., who has endorsed a plan similar to Sanders’s but has yet to admit it will require a tax hike.

“The problem isn’t just how she talks about it; the problem is the multi-trillion-dollar hole,” Buttigieg said Sunday on CNN’s “State of the Union.”

Warren’s campaign said in a statement that it’s looking into additional ways to raise revenue to support her plan, which economists estimate could cost up to $32 trillion.