On Sunday, February 9, 2020 at 3:45:34 AM UTC-8, BillB wrote:
> Lol...typical risky shanked punt
>
> "The Urban Institute, a center-left think tank highly respected among Democrats, is projecting that a plan similar to what Warren and Senator Bernie Sanders are pushing would require $34 trillion in additional federal spending over its first decade in operation"
Healthcare expenses paid privately will be rerouted through taxes, moron. 'Additional federal spending' DOESN'T = additional healthcare costs.
And, 'OOOOH! Center-left think tank.' LOL. What happened to the BillB proclaiming how wonderful Canadian universal healthcare is?
As I said- Why don't you get yourself informed before you start lecturing?
Medicare For All would increase National Health Expenditure (NHE) by $7 Trillion over 10 years. $700 Billion a year more than NHE now and EVERYONE is covered, not 30 million with no healthcare coverage.
Below is a synopsis explaining how to easily cover that cost which I already posted at RGP if you're too lazy to do the research yourself. Once you've done that please explain why so many Democratic candidates and TV talking-heads (Chris Matthews: 'Will it increase taxes?) are LYING about affordability.
'National health care spending includes spending by the federal government, state and local governments, households, and employers. National health expenditures (NHE) are estimated annually by the Centers for Medicare and Medicaid Services (CMS) as the National Health Expenditure Accounts. Using our models’ projections and extending the CMS’s estimate for spending categories we do not model, we estimate that NHE for the 10-year period from 2020 to 2029 will total approximately $52 trillion dollars under current law.
Under the single-payer enhanced reform, the new federal government program would provide more covered benefits than typical insurance offers today (including typical medical benefits but adding a new home- and community-based long-term services and supports benefit and adult dental, vision, and hearing benefits). All the costs would be covered by the federal government; no one would pay premiums or out-of-pocket costs (i.e., no deductibles and no copayments or coinsurance), including undocumented residents.
As a result, many people would get insurance for the first time, and many others would get significantly more generous insurance than they currently have. And with their new or improved insurance, many people would use more medical care than they do today.
The federal government would limit the fees paid to doctors, hospitals, and prescription drug manufacturers, which would help lower the program’s costs, compared with what it would be otherwise. In addition, the system would be simpler than our current “patchwork” system, so the administrative costs of running the program would be lower than in most private insurance plans; this also helps offset some of the new costs.
However, by our estimates, the increase in spending for people with this new generous coverage would outweigh the savings from lower prices for health care providers and lower administrative costs. As a result, total national spending would increase, even taking into account greatly reduced household, employer, and state government spending.
For this approach to reform, federal spending would increase by $34 trillion over 10 years, but health spending by individuals, employers, and state governments would decrease by $27 trillion, so national health spending would increase by $7 trillion over the same 10-year period, from $52 to $59 trillion.'
https://www.urban.org/urban-wire/dont-confuse-changes-federal-health-spending-national-health-spending
That's an increase in overall spending of $700 BILLION per year for much more comprehensive health insurance which covers ALL Americans.
How will that be paid for? A good first place to start is the hundreds of billions of dollars of annual tax giveaways for Donald Trump's personal social class.
Then we could take a look at the fact that the average American corporate tax rate paid is 11% compared to these countries in Europe, and elsewhere, which (surprisingly?) haven't gone bankrupt.
United Kingdom 19.00%
Finland 20.00%
Iceland 20.00%
Denmark 22.00%
Sweden 22.00%
Norway 23.00%
Japan 23.20%
Netherlands 25.00%
New Zealand 28.00%
Belgium 29.00%
Australia 30.00%
'Under the Tax Cuts and Jobs Act, 91 profitable Fortune 500 companies paid $0 in taxes on U.S. income in 2018, according to a new report from the Institute on Taxation and Economic Policy (ITEP). Across all 379 profitable companies in the Fortune 500 the effective tax rate was just 11.3%, just over half the 21% tax rate under the law.
“In 2018, the 379 companies earned $765 billion in pretax profits in the United States,” the report noted. “Had all of those profits been reported to the IRS and taxed at the statutory 21% corporate tax rate, the 379 companies would have paid almost $161 billion in income taxes in 2018.”
Instead, the companies only paid $86.8 billion, roughly 54% of what they owed.
But how?
Matthew Gardner, senior fellow at ITEP and lead author of the report, says that what companies doing is “entirely legal” — but that they can avoid paying taxes thanks to tax breaks.
“A whole host of tax breaks in the code collectively have this pernicious effect,” Gardner said. But he added, though legal, “this doesn’t exonerate these companies from wrongdoing.”
“What we are seeing is a product of the actions of Congress, aided and abetted by corporate lobbyists,” he explained. “This is the predictable consequence of creating tax breaks for any activity you can think of.”
https://www.yahoo.com/news/trump-tax-law-fortune-500-companies-pay-0-taxes-2018-213157006.html
If healthcare is unaffordable why are massive tax giveaways to corporations and billionaires affordable? And there are plenty of other profligate Republican expenditures which can be reallocated to serve ALL Americans.
'In the United States, a legion of administrative healthcare workers and health insurance employees who play no direct role in providing patient care costs every American man, woman and child an average of $2,497 per year.
Across the border in Canada, where a single-payer system has been in place since 1962, the cost of administering healthcare is just $551 per person — less than a quarter as much.
“The United States is currently *wasting* at least $600 billion on healthcare paperwork — money that could be saved by going to a simple ‘Medicare for All’ system,” said senior author Dr. Stephanie Woolhandler, a health policy researcher at Hunter College and longtime advocate of single-payer systems.
That sum would be more than enough to extend coverage to the nation’s uninsured, she said.'
https://www.latimes.com/science/story/2020-01-07/u-s-health-system-costs-four-times-more-than-canadas-single-payer-system