Mike Bloomberg Warns Kamala Harris Will Bankrupt America

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Mike Bloomberg Warns Kamala Harris Will Bankrupt America

Former New York City Mayor Michael Bloomberg, a progressive, has just shamed Sen. Kamala Harris

The billionaire businessman said that Sen. Harris’ plan of Medicare for all would bankrupt the United States, The Daily Mail reported.

It is an argument many others have made, including potential independent candidate and former Starbucks CEO Howard Schultz.

Michael Bloomberg has claimed California Sen. Kamala Harris’ plan to abolish private health insurance in favor of ‘Medicare for all’ would bankrupt the country.

The former New York City mayor – who is considering running for the Democratic presidential nomination – rejected the idea endorsed by his 2020 rival, which is gaining traction in the party.

‘I think you could never afford that. You’re talking about trillions of dollars,’ Mr Bloomberg said during a political swing in New Hampshire, where the nation’s first primary will be held next year.

While Bloomberg is considering running on a centrist position, Harris carved out a liberal platform on Monday night, telling an audience of Iowa Democrats that the United States should ‘eliminate’ all private plans and move everyone to a single-payer system.

‘We need to have Medicare for all. That’s just the bottom line,’ Harris said during a CNN town hall event, declaring that she feels ‘very strongly’ about it.

The idea is that everyone gets access to medical care, and you don’t have to go through the process of going through an insurance company, having them give you approval, going through the paperwork, all of the delay that may require,’ she explained, concluding that private insurers should not be part of the system.

CNN reported that Schultz had the same concerns about it.

“It’s not that it’s not American,” Schultz said. “It’s unaffordable.”

“What I believe is that every American has the right to affordable health care as a statement,” Schultz said, lauding the Affordable Care Act, otherwise known as Obamacare, as “the right thing to do.”

He added, “But now that we look back on it, the premiums have skyrocketed and we need to go back to the Affordable Care Act, refine it and fix it.”

He argued that the Democratic progressive platform of providing Medicare, free college education and jobs for everyone is costly and as “false as President Trump telling the American people when he was running for president that the Mexicans were going to pay for the wall.”

Asked if he has a proposal for health care, he replied, “I don’t have a plan today. I’m not yet running for president.”

Schultz also hit New York Democratic Rep. Alexandria Ocasio-Cortez for her proposal of a 70% marginal tax rate on income over $10 million, saying he does not support such a plan.

“Why should we punish it? What’s the American dream? The American dream is to create opportunity,” he told Harlow. “The American dream is to rise above your standing in life. Now, we’re going to be providing punitive tax rates for people who have succeeded. Now what we need is comprehensive tax reform.”

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