Friday, November 1, 2019
WarrenCare: Medicare for All: ObamaCare Redux
Senator Elizabeth Warren has plans for everything: free, free, free; tax the rich! She finally released her funding plan for Medicare for All. She admitted about 2 million people will lose their jobs. That’s collateral damage for universal health care, or as she said “”part of the cost issue.” She said it would cost $52 trillion over 10 years, an average of $5.2 trillion per year. The 2019 federal budget is roughly $4.407 trillion, almost a trillion less than her proposal, which as per usual government projections is a substantial under-estimate of the true costs. She wants to more than double the federal government, essentially socializing not just health care but the economy. At least her proposal does not repeat the lies of ObamaCare: “If you like your doctor, you can keep your doctor” You won’t have a choice under WarrenCare, assuming you can find a doctor “If you like your healthcare plan, you can keep it” One plan, the government plan, fits all. “Premiums will decline by $2,500 per year for families” She’s promising to return $11 trillion to American families – her-self proclaimed “biggest tax cut in our history.” I have a bridge in Brooklyn for you. She’s promising no tax increases for the middle class: “Not one penny in middle-class tax increases.” So did President Obama Senator Bernie Sanders is honest about proposing tax increases She claims taxing corporations and payroll taxes will pay for WarrenCare: $15 trillion in new taxes – but not on the middle class. I have a Bridge in Brooklyn for you. Corporations don’t pay taxes. They pass them on to their customers. The Senator will double down on her already proposed wealth tax. She proclaimed: “When fully implemented, my approach to Medicare for All would mark one of the greatest middle class wealth in history.” I have a Bridge in Brooklyn for you. A basic rule of economics: The more you raise taxes on capital, the less you will get as people and institutions change their behavior. The rich, the hedge funds, et al, have neither the funds or inclination. Economics and history tell us you cannot suck that much money out of the private sector without doing substantial damage to the economy. The federal government has not proven a worthy provider of medical care. The Indian Health Service and hospitals is a disgrace. The Veteran’s Administration is still deficient in providing healthcare to our nation’s veterans. She proposes to lower costs by reducing payments to healthcare providers, including doctors and hospitals. That’s been a proven disaster with Medicaid. Here’s the questions: 1) Will doctors want to workforce the government? 3) Will the 152 million Americans on employer health insurance plans vote for it? 2) Will the public remember the false promises of ObamaCare? 4) Will the public support free medical care for the tens of millions of undocumented immigrants? 5) Will the traditional big business, big Wall Street funders of Democrats support President Trump instead? 6) Will the Congressional Democrats, remembering the political carnage of ObamaCare, vote to commit political suicide? 7) Can you imagine the chaos and carnage in shifting from the competitive marketplace to a monopolistic government bureaucracy? 8) Would Chief Justice Roberts vote to uphold WarrenCare? Buy gold!