Medicare for All (Single Payer) Reform Would Be Major Stimulus for Economy with 2.6 Million New Jobs, $317 Billion in Business Revenue, $100 Billion in Wages. The number of jobs created by a single payer system, expanding and upgrading Medicare to cover everyone, parallels almost exactly the total job loss in 2008, according to the findings of a groundbreaking study.
For those of you who do not want to read the report, here are the highlights in pictures.
Here are the highlights in words:
- Create 2,613,495 million new permanent good-paying jobs (slightly exceeding the number of jobs lost in 2008)
- Boost the economy with $317 billion in increased business and public revenues
- Add $100 billion in employee compensation
- Infuse public budgets with $44 billion in new tax revenues
- Adding all Americans to an expanded Medicare could be achieved for $63 billion beyond the current $2.1 trillion in direct healthcare spending.
- The $63 billion is six times less than the federal bailout for CitiGroup, and less than half the federal bailout for AIG.
- Solely expanding Medicare to cover the 47 million uninsured Americans (as of 2006 data on which the study is based) could be accomplished for $44 billion.
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It is the only answer.
ReplyDeleteOnce medical costs hit a certain % of GDP it will be seen as the answer.
Unfortunately O never had it on the table.
This is a great post.
Show the people in cents and dollars.
Maybe that will wake up their common sense.
But, I doubt it.
http://news.yahoo.com/obama-health-care-law-unexpected-beneficiaries-070739167.html
ReplyDeleteYou people just make up facts. None of this creates jobs. Just because you say it does,doesn't magically make it true.
ReplyDeleteRead the report, witless. If you then disagree with the numbers, explain why.
ReplyDeleteSaying that covering everyone with healthcare will not create jobs is just wrong.
witless, clueless, brainless -- it's all the same, obviously. Go to your nearest community college. Sign up for a course in macroeconomics. Read. Listen. Learn. Or, you can just continue demonstrating your ignorance and how brainwashed you are in Web comments; it's certainly easier.
ReplyDeleteJ.C., that's and incredibly telling post. But the two things you've got to keep in mind are: 1, Medicare is Big Gummint, not a more desirable too-big-to-fail private enterprise; and 2, people in big businesses like those banks and AIG send a lot of campaign money Republicans' way, Medicare clients a comparative pittance.
ReplyDeleteInteresting "before" and "after" pictures at the top of the post. The guy on the left apparently has an even more successful diet program than the guy on the right. What's his secret?
ReplyDeleteSeriously though, Single Payer is the only way to go. The rest of the industrialized world can't be wrong. We'll catch up eventually; it'll just take a long looong time.
I still far prefer Ezekial Emanuel's "Healthcare Guaranteed" proposal. It covers everybody and it does so in a way that diffuses power out of Washington. Check it out. You can probably get for a penny over at Amazon (plus the $3.99 shipping, of course - what a racket, huh?).
ReplyDeleteMr. Anderson,
ReplyDelete" witless, clueless, brainless -- it's all the same, obviously. Go to your nearest community college. Sign up for a course in macroeconomics. "
Sounds like a great idea and I am open to it. When I raise my hand, will the Professor answer my question as to where Obama's 5 million green jobs are?
Since those 5 million Green jobs never happened, what gives you the idea that medicare for all will create one job ?
You can hire all the dishonest academics you wish to write studies that say jobs will be created, but when it fails, what will you say ? I know, I know, It was a lot worse than we thought.
I know economics from the real world not a class room .
Did Medicare give that guy nipples?
ReplyDeleteI've been arguing for single payer since 2006 on my old blog. Why business would fight it, except health insurance companies I guess, is a mystery as removing the burden of health insurance expense from employers should be a boon for them.
ReplyDeleteIt's like I say though, how do you reason with a man who has no health insurance and is against national health insurance? You can't. The man is an idiot.
Health insurance is a way for big business to keep employees tethered to them, and dependent on them. How often have you heard someone say they can't leave their job because they will lose their health insurance?
ReplyDeleteJob mobility benefits the worker and burdens the business. Corporations provided worker benefits to help themselves. They do not do it for the benefit of their employees. After all, their employees are just another expense, and their primary goal is profit, not worker benefits.
Jerry Critter,
ReplyDeleteHealth benefits were used as a way to get around wage controls during WW2, to compete for scarce workers. They have evolved into the high cost mess we all enjoy today.
Witless,
ReplyDeleteYou are confusing the use of health care by businesses to retain or acquire workers with the cost of health care. There is no connection.
I feel really nice reading these articles I mean there are writers that can write good material.
ReplyDeleteYour articles don’t beat around the bushes exact t to the point.
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