Don’t worry though, it would only cost the equivalent of TWICE the size of US economy or roughly one HALF OF THE ENTIRE WORLD’S GROSS PRODUCT. But yay socialism right?
This is a direct threat to what this country is supposed to stand for and this should be said. You want socialized medicine? Look at the disaster that is the VA.
Hayek couldn’t be more right. The socialists are completely out to lunch and they have been since they emerged out of the Marxist/Hegelian ooze. But they sell “free” stuff to people who are desperate, or more economically illiterate than them, or both. Socialists (often) think that markets don’t matter, or that they are some kind of human construct. They are not. Markets emerge out of a natural order and dam them up or blow them up at your (and society’s) peril.
Honestly there are times editing this website when I just wonder how so many obviously intelligent (but still big government) people can be so completely daft. History is full of intelligent but economically just clueless people. What is this tendency in humanity? It has caused so much harm to so many people.
It should also be serious cause for alarm that these economic illiterates (sorry) think government should manage YOUR HEALTHCARE. Whether you live or die would be in the hands of government bureaucrats. Have we learned nothing from the 20th Century? We should never give such power to the government. It has far too much power already. We should be LIBERALIZING healthcare. We should be dismantling the crony/government nexus.
The Mercatus analysis estimated the 10-year cost of “Medicare for all” from 2022 to 2031, after an initial phase-in. Its findings are similar to those of several independent studies of Sanders’ 2016 plan. Those studies found increases in federal spending over 10 years that ranged from $24.7 trillion to $34.7 trillion.
Kenneth Thorpe, a health policy professor at Emory University in Atlanta, authored one of those studies and says the Mercatus analysis reinforces them.
“It’s showing that if you are going to go in this direction, it’s going to cost the federal government $2.5 trillion to $3 trillion a year in terms of spending,” said Thorpe. “Even though people don’t pay premiums, the tax increases are going to be enormous. There are going to be a lot of people who’ll pay more in taxes than they save on premiums.” Thorpe was a senior health policy adviser in the Clinton administration.
And by the way, it’s not “going to cost the government” anything. It will cost YOU and ME, WE the People. WE pay for the government. The taxpayers pay for the government. It’s our money.