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Tag Archives: Medicare for All

The Economic Impact of Sanders’ Radical Agenda

]]> If fully implemented, but otherwise implemented wisely, Senator Sanders’ agenda for the economy would reduce real GDP and consumption by 24 percent.  Real wages would fall more than 50 percent after taxes.  Employment and hours would fall 16 percent combined.  There would be less total healthcare, less childcare, less energy available to households, and less value added in the university sector.  Although it is more difficult to forecast, the stock market would likely fall more than...

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Trump’s economists will be missed

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...

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Medicare for All has Been Around for Years

Below is a chart of the fraction of Democrats (including Independents who caucus with Democrats)  that sponsor or cosponsor "Medicare for All" (M4A) bills, including Senator Bernie Sanders' earlier versions under the title "American Health Security Act."  All of these would prohibit private health insurance (Ted Kennedy's "Medicare for All" bills are not included). This shows that M4A has enjoyed significant support for a number of years.  What is recent is for people to...

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Marxist Provisions in “Medicare for All”

]]> This post refers to four bills entitled “Medicare for All”: two introduced in the previous Congress (S.1804, H.R.676) and two bills recently introduced in the current Congress (S.1129, H.R.1384).  Although few people have actual read them, they are popular and enjoy enthusiastic support.  The bills’ titles give the impression that they are merely opening up the U.S. Medicare program to all ages. The titles belie the actual text.  Closely following Marxist principles, the “Medicare...

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Critiques of Single-payer: Why Did They Take So Long to be Discovered?

It is now routine for Democrats to be asked in town halls, debates, etc. "Who here would abolish their private health insurance in favor of a government-run plan?"  But why did it take so long to pose this question to advocates of "single-payer" health systems? As a matter of economics, it should be obvious that the health insurance market would not be served by a single seller unless there were tremendous barriers to entry.  E.g., criminalizing any private enterprise that attempts to...

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Bold Ideas are Not Always Better than Old Ideas

Tweet February 28 — US Democrats are moving to the left, we are told.  It is not yet clear that the median voter is in fact moving left, nor the median congressman who was elected last November.  But it is clear that many of the candidates for the 2020 Democratic presidential nomination are experimenting with “bold new ideas”, or at least bold rhetorical formulations.  They are receiving what seems a disproportionate amount of attention for doing so.  Many of the policy proposals, if...

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