Democratic presidential hopeful Elizabeth Warren on Friday explained how she proposes to pay for her “Medicare for All” plan, after drawing criticism from her primary opponents for refusing to say whether her plan would raise taxes on the middle class.

“We don’t need to raise taxes on the middle class by one penny to finance Medicare for All,” the Massachusetts senator said in a blog post. She said her plan would cost the U.S. just under $52 trillion over 10 years, while the current system would cost the country $52 trillion over ten years.

Warren said almost half of her plan’s cost would come from a new Employer Medicare Contribution, adding that it would involve having employers “pay a little less than what they are already projected to pay for health care.”

The progressive politician also said her plan would be funded by targeted taxes on the financial sector, large companies and the top 1% of U.S. households.

Such taxes would include a “small tax on financial transactions — one-tenth of one percent on the sale of bonds, stocks or derivatives” that would generate about $800 billion in revenue over 10 years. Warren also said she would ask billionaires to pitch in 6 cents on each dollar of net worth above $1 billion in order to get an additional $1 trillion in revenue.

For large companies, she proposed to institute a country-by-country minimum tax on foreign earnings of 35%, and she called for a fee on the country’s 40 biggest banks that would encourage them to take on fewer liabilities and reduce the risk they pose to the financial system.

Related:Here’s where the 2020 Democrats say they stand on health care

And see:All that a ‘President Warren’ could change just by executive order

In addition, Warren said cracking down on tax evasion and fraud would generate $2.3 trillion in additional federal revenue.

“When fully implemented, my approach to Medicare for All would mark one of the greatest federal expansions of middle class wealth in our history,” Warren said. “If Medicare for All can be financed without any new taxes on the middle class, and instead by asking giant corporations, the wealthy, and the well-connected to pay their fair share, that’s exactly what we should do.”

Health-care stocks have been underperforming the broad S&P 500 index this year, hurt in part by investors’ worries about how 2020 Democrats’ Medicare for All proposals would reshape the sector. The Health Care Select Sector SPDR ETF XLV, +0.75% has tacked on 10% in 2019, while the S&P SPX, +0.78% has gained 22%.

See:What ‘Medicare for All’ would do to the health-care sector

Also read:Senior House Democrats reluctantly give ‘Medicare for All’ more attention

The details that Warren rolled out Friday weren’t winning over her critics.

“This plan is about progressive signaling and making the numbers superficially work,” tweeted James Pethokoukis, a fellow at the conservative American Enterprise Institute. It’s “unserious, at least if you care about American competitiveness and innovation.”

“This plan hinges not just on a giant middle-class tax hike and the elimination of all private health insurance, but also on a complete revamping of defense, immigration and overall tax policy all at once in order to pay for it,” said Democratic presidential hopeful Joe Biden’s deputy campaign manager and communications director, Kate Bedingfield, in a statement.

“Her proposal dramatically understates its cost, overstates its savings, inflates the revenue and pretends that an employer payroll tax increase is something else.”