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

[eridani]

http://www.huffingtonpost.com/gerald-friedman/the-wall-street-journal-k_b_8143062.html

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.

[sabrina 1]

1. Great letter, thanks for posting it.

[Sherman A1]

2. K&R!

A well written letter!

[cantbeserious]

3. Thank You For Sharing

eom

[dae]

5. Excellent, thank you for sharing! n/t

[merrily]

6. When the economist on whose analysis you relied (Gerald Friedman) tells you you are full of it,

game over.

However, for good measure, Reich weighed in. http://www.salon.com/2015/09/19/4_reasons_why_the_wall_street_journals_attack_on_bernie_sanders_is_bogus_partner/

BTW, some of the commenters at the end of Huffpo piece need a lot of help with reading comprehension. Or something.

[eridani]

9. They understand--they're just bullshitting. Anyone who prefers an $800 premium to--

--a $200/month tax should not be out in public without adult supervision.

[Scuba]

7. K&R

[Enthusiast]

8. Kicked and recommended a whole bunch!

Go, Bernie!