Either a tax hike OR deficit spending for Medicare-for-all would shatter economic growth.

Nor would Medicare for All insulate employers from the yearly rise in costs they've faced as health insurance premiums have marched upward. As envisioned by Senator Sanders, Medicare for All is massively underfunded—despite the historic tax increases he's promising.

Studies from the Urban Institute, the RAND Institute, and the Mercatus Center estimate the ten-year cost of Medicare for All at about $30 trillion to $40 trillion. The revenue from his new taxes, including new taxes on the wealthy and large financial institutions, would amount to only $17 trillion over ten years.

Eventually, the federal government would have to hit employers of all sizes and their employees with huge tax hikes to keep single-payer afloat. Absent such tax hikes, the government would have to add to its already historic debt load, which would exert an enormous drag on the economy over time.

An analysis by researchers at the University of Pennsylvania's Wharton School estimates that, by 2060, a Medicare for All program financed through deficit spending would reduce economic growth by an astounding 24%.