An Open Letter to the Wall Street Journal on Its Bernie Sanders Hit Piece

[Stellar]

It is said of economists that they know the cost of everything but the value of nothing. In the case of the article "Price Tag of Bernie Sanders's Proposals: $18 Trillion," this accusation is a better fit for the Wall Street Journal that published it.

The Journal correctly puts the additional federal spending for health care under HR 676 (a single payer health plan) at $15 trillion over ten years. It neglects to add, however, that by spending these vast sums, we would, as a country, save nearly $5 trillion over ten years in reduced administrative waste, lower pharmaceutical and device prices, and by lowering the rate of medical inflation.

These financial savings would be felt by businesses and by state and local governments who would no longer be paying for health insurance for their employees; and by retirees and working Americans who would no longer have to pay for their health insurance or for co-payments and deductibles. Beyond these financial savings, HR 676 would also save thousands of lives a year by expanding access to health care for the uninsured and the underinsured.

The economic benefits from Senator Sander's proposal would be even greater than these static estimates suggest because a single-payer plan would create dynamic gains by freeing American businesses to compete without the burden of an inefficient and wasteful health insurance system. As with Senator Sanders' other proposals, the economic boom created by HR 676, including the productivity boost coming from a more efficient health care system and a healthier population, would raise economic output and provide billions of dollars in additional tax revenues to over-set some of the additional federal spending.

Summary of 10-year projections

More: HuffPo

[PatrickforO]

1. Well done, Huffpo.

Single payer healthcare is one of the best things we could possibly do.

[bvf]

2. I don't usually have much good to say about HP,

the last being when it banished Trump to the stupid pages, but good on them for this.

[Juicy_Bellows]

3. Single payer will be a boon to the economy.

Anyone who tries to peddle otherwise is a purveyor of fine horseshit.

[Enthusiast]

5. Precisely.

[Enthusiast]

4. K&R! This post should have hundreds of recommendations!

Surely all of us favor a Medicare for All system. Recommend!

[in_cog_ni_to]

6. Nice! LOVE

all the comments too. We aren't the only ones Feelin' the Bern!
The WSJ should be ashamed, but being a RW rag, owned by Murdoch, we'll just see more of the same and, of course, some here will keep posting Bernie hit pieces from it.

Thanks for posting a factual article!

[99Forever]

7. The wheeels are coming off the Oligarch Bus.

The problem with being a sellout, is that those you sellout remember you doing it. Forever.

[think]

8. Excellent! This is written by the professor whose research was used in WSJ to push their

agenda....

[Stellar]

9. kick! nt

[raouldukelives]

10. K&R nt