When the day comes (year 2029?) that a "progressive" Democrat occupies the White House, we can look with nostalgia on the good old days 2017ff when White House economists literally followed the textbook. Surely the economists working for that new President will be no smarter than UC Berkeley's Emmanuel Saez. In his primary defense of Medicare for All, Mr. Saez now writes that payments to private health insurance are "just like taxes." Saez understands that those brainwashed by old school economics will be thinking "health insurance premiums [cannot be] a tax [because] people have some choice." Their mistake, he says, is that unlike "spending on food and clothes," premiums for employer HI are "mandatory." (The equivalence of premium and tax is also a central premise of their new
[email protected] (Casey B. Mulligan) considers the following as important: Emmanuel Saez, marginal tax rates, Medicare for All
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[There are many other problems with Saez' assertion, e.g., how a payroll tax as compared with HI premiums would vary with employment, income, hours, etc., but the above is enough to show how he is wrong on his own terms