“Stupid is, as stupid does” – Probably the most wisest words ever uttered within the length of a Tom Hanks movie. But Elizabeth Warren isn’t stupid, she is completely aware and undoubtedly conscious of the highly incompetent things and ideas she is consistently heard saying. Not to purposefully leave unmentioned the other “2020 hopefuls”, many of whom are responsible for other “highly incompetent” things and ideas, but Warren recently reached a new standard of government subsidization of things that the private sector (if left alone) would eventually repair. Namely her glittery new “$52 trillion” Medicare- For- All healthcare plan.
Warren recently stated : “Here’s the main difference: Individual health care spending. Over the next ten years, individuals will spend $11 trillion on health care in the form of premiums, deductibles, copays, and out-of-pocket costs. Under my Medicare for All plan, that amount will drop from $11 trillion to practically zero,” Warren wrote.
That $11 trillion deficit will “largely” be made up with “new taxes on financial firms, giant corporations, and the top 1 percent—and making sure the rich stop evading the taxes we already have,” Warren claimed.
“That’s right: We don’t need to raise taxes on the middle class by one penny to finance Medicare for All.”
Now, when you analyze this from a few steps back, you’ll notice a couple of things I would deem quite important.
1. “Washington bureaucrats can’t even come to terms with the current federal budget.”
Presently the federal government receives about $3 trillion in taxes annually from U.S citizens, while the current federal budget is about $4 trillion annually. Which is the primary reason behind our existing national debt ($22 trillion). Other than social security (24% of the 2019 federal budget), there are also various other costly entitlement programs that eat into the whole pie.
2. “What about other radical leftist policy proposals?”
According to Peter Roff, contributing editor in the June 28th, 2019 issue of Newsweek the cost of “Healthcare for all”, would be $3.8 trillion per year. The cost of “The New Green Deal” would be $9.3 trillion per year, while the cost of “Free College” would be $129 billion per year. The amounting cost for all of these governmental subsidies towards public health, the environment, and tuition would be an estimated $13.29 trillion annually. It’s worth noting that that number does not include our current annual spending (previously mentioned) of $4 trillion. Added together (Warren’s proposed policy ideas & current annual federal spending), that’s $17.29 trillion.
3. “Is it possible to pay for any of this?”
The answer is simply “no”, studies have shown that even a doubling of all projected individual and corporate income taxes wouldn’t alone be able to finance “universality” in terms of health care. In 2010 the Ontario Canada universal health care costs ate up 46% of it’s entire budget, and it’s expected to rise to 80% by 2030. That means in 10 years they will have barely 20% of their budget to spend on anything else.
Elizabeth Warren’s new “Medicare for all” plan is proven to be unaffordable, at a “federal level” and a “common sense” level. $52 trillion far exceeds any available funds the US has currently, and generally all notions of utopia generate significant more harm and malevolence than good. The government needs to cease subsidizing health care, and a market needs to be formulated for existing medical procedures. In return, I believe this will cause the cost of medical care and procedures to exceedingly adjust due to market competitiveness.
Medical universality will only depress the search for new cures, destroy the private sector, and annihilate profits and innovation. What kind of medical treatment do you want, “quality” or “universality?” One has a future, the other doesn’t.
Copyright 2019 @onlookerspub