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Single Payer IQ Test – Question 5: How much will it cost? Rate Topic: -----

#1 User is offline   MTP Reggie 

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Posted 09 November 2017 - 06:19 PM

Single Payer IQ Test – Question 5: How much will it cost?
October 19, 2017
aapsonline.org

<More Here>

Answer: $32 trillion over 10 years is one guess. Actually, it will devour every dollar that can be taken from taxpayers or creditors and diverted to the system.

Bernie Sanders himself pegged the price of his “Medicare for All” single-payer plan at $1.38 trillion per year. This is about the same amount that the federal government already spends, including Medicare, Medicaid, tax deductions for health insurance, ObamaCare subsidies, CHIP, and veterans’ care, according to PolitiFact. [1]

“As a patient, all you need to do is go to the doctor and show your insurance card,” says a Sanders website. “Bernie’s plan means no more copays, no more deductibles and no more fighting with insurance companies when they fail to pay for charges.”

This magic is supposed to be accomplished by doing away with insurer profits and advertising costs, “negotiating” lower prices from vendors (wage and price controls), purported administrative efficiency, and more cost-effective care.

Federal health-related expenditures, according to other estimates, would increase by about $32 trillion (233%) between 2017 and 2026, as private and state spending shifted to the federal government. This would almost double the entire current federal budget.

As the graph below [2] shows, the expansion of third-party payment and the involvement of the federal government in health–single-payer for the elderly and the disabled (Medicare)—marks the beginning of the spending escalation. In 1965, medical spending consumed less than 6% of GDP. It is now greater than 18%.

Between 1960 and 1965, medical spending increased by an average of 8.9% a year. That’s because health insurance expanded and as it covered more people, the demand for medical services rose. After Medicare, from 1966 to 1973, the rate of increase was an average of 11.9% per year. In 1965, households paid out-of-pocket for 44% of all medical expenses, and health insurance paid for 24%. Now, about 90% of spending passes through a third party.

The hidden costs of Medicare-for-all include:

  • Deadweight losses of additional taxes ($625 billion – $1.1 trillion/yr)
  • Additional waste, as from moral hazard ($453 billion – $626 billion/yr)
  • The impact of rationing ($152 billion – $914 billion/yr)
  • Social costs from reduced innovation ($23 billion to $152 billion).


Of course, it is impossible to provide every conceivable medical service to everyone. There will be priorities, and queues, described by a Canadian physician on the Bernie Sanders show.

(snip)

<More Here>
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#2 User is online   Howsithangin 

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Posted 09 November 2017 - 08:17 PM

Nothing. It's free. They told me so. :)
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#3 User is offline   Martin 

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Posted 09 November 2017 - 08:42 PM

It won't cost anything. The government will pay for it.
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#4 User is offline   MontyPython 

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Posted 10 November 2017 - 12:24 AM

“If you think health care is expensive now, wait until you see what it costs when it's free.”

P.J. O'Rourke

B)
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#5 User is offline   vectorsrule 

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Posted 10 November 2017 - 07:53 AM

Quote

“Bernie’s plan means no more copays, no more deductibles and no more fighting with insurance companies when they fail to pay for charges.”


Also, no more Doctors. I read half the medical doctors in the UK are from third world countries because there is no money in it. My wife (MD Family Medicine) takes slave wages from medicare/medicaid now and they don't take on new patients because they lose money on them. Like all socialism it means rationing, and or the Doctors will Unionize to protect themselves. Socialism always fails for always the same reasons. It does not comply to the SUPPLY and DEMAND curve. I'm in software sales of analytic tools. I learned this lesson as a sales puppy:

You can have the best Service
You can have the best Price
You can have the best Product

I can offer you two of the three, which one do you want?

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#6 User is online   Tikk 

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Posted 10 November 2017 - 09:29 AM

If you like your paycheck, you can keep your paycheck.
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#7 User is offline   MTP Reggie 

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Posted 10 November 2017 - 09:46 AM

View PostTikk, on 10 November 2017 - 09:29 AM, said:

If you like your paycheck, you can keep your paycheck.



Lies!


http://4.bp.blogspot.com/_akLHpeO7qyA/TKy4nr1fNmI/AAAAAAAACr0/7q299UQ6iEY/s1600/1+skeptical+dog.jpg
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#8 User is offline   oki 

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Posted 10 November 2017 - 10:30 AM

Something a lot of people seem to not understand is the very nations they herald for their 'government provided healthcare' tax the hell out of you.
Imagine living in New York city on about 40K. Then having a federal tax of %20 on top of that, plus property and sales taxes.
As then yen to dollar is about 120 yen to 1 dollar. Divide the amounts listed below by about 112(right know) to get an idea what they translates to dollars.

http://www.worldwide...n/japan_tax.asp

Tax Base (Yen) Tax
1 - 1,950,000 5%
1,950,001-3,300,000 10%
3,300,001 - 6,950,000 20% of base exceeding 3,300,000
6,950,001-9,000,000 23% of base exceeding 6,950,000
9,000,001 - 18,000,000 33% of base exceeding 9,000,000
18,000,001 - 40,000,000 40% of base exceeding 18,000,000
Over 40,000,000 45% of base exceeding 40,000,000


Like I said imagine living in New York on about 40K and having to pay the feds %20 income tax.

Oki
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#9 User is offline   Natural Selection 

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Posted 10 November 2017 - 12:29 PM

Single payer just barely works in majority White countries where everyone has a good work ethic. Even then there are compromises for covering everyone equally. Throw in a bunch of unemployable blacks and unskilled immigrants and the numbers simply don't work out.
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