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Counterpoint[0] from a libertarian perspective, excerpt below. As Matt Bruenig at Jacobin explains, if you compare the projected price tag of Medicare for All
by gbacon 8y ago
Counterpoint[0] from a libertarian perspective, excerpt below.
As Matt Bruenig at Jacobin explains, if you compare the projected price tag of Medicare for All against projected total healthcare spending in the United States, you see a net decrease of around $2 trillion over the decade.
Of course, in promoting this conclusion, Sanders and his allies out the true aims of their proposal: the outright nationalization of the US healthcare system.
While Sanders and others usually try to avoid being honest with this aim, others on the left[1] are more transparent. This is why the description of “Medicare for All” is fundamentally dishonest. With Medicare, not only do you have an increasing number of Americans opting for the privately managed Medicare Advantage programs, but you always have the option of seeking treatment outside of the Medicare program. This would not be true in the future envisioned by Bernie Sanders and his supporters.
… So at the end of the day, while there is value in discussing some of the potential fiscal costs of socialized medicine in America, it is important to not overlook that we are not even talking about the same services. …
[0]: https://mises.org/wire/real-cost-medicare-all-lives-not-dollars https://mises.org/wire/real-cost-medicare-all-lives-not-doll...
[1]: https://www.theatlantic.com/politics/archive/2017/09/medicare-for-all-tax-policy/539715/ https://www.theatlantic.com/politics/archive/2017/09/medicar...
- gbacon 8y agoIn contrast, see a proposal[0] by Austrian economist Bob Murphy for reforming a different entitlement program in such a way that would reduce costs for the same service. Summary excerpt: The Social Security program is in the hole by $11 trillion. The government could ameliorate this gap by letting Americans opt out of the system, so long as they make a payment to cover the present value (if positive) of their net obligations. Because the pay-as-you-go system has an implicit rate of return that is lower than private investments but higher than what the government would pay in the bond market, there are “win-win” moves that allow workers to build up a larger retirement fund while reducing the government’s financial hole. [0]: http://www.econlib.org/library/Columns/y2017/Murphysocialsecurity.html http://www.econlib.org/library/Columns/y2017/Murphysocialsec...