While we all have opinions on high-level topics, an issue that every citizen has to deal with on a very personal level is that of healthcare. The Obamacare bill has done an incredible job in extending coverage to more American citizens, but Bernie Sanders wants to go farther- universal single payer healthcare for ALL Americans. There’s a reason that the first thing we think of when we consider healthcare in America is the exorbitant cost. Which is why, when we find out that Bernie Sanders’ plan for single payer healthcare reform will cost the nation $5.081 trillion less than the buy-in insurance we have become victims of, over the next ten years; while also guaranteeing insurance for every single person, we should pay serious attention.
In keeping with to-be-expected Republican propaganda-agenda fact spinning, an article was published in the one-percent mouthpiece, the Wall Street Journal in which economist Gerald Friedman’s research was cited improperly, claims that Sander’s proposal—HR 676—would cost $18 trillion. Friedman published an op-ed on the Huffington Post striking back against the misrepresentation, and showing that the plan is an aggregate saver. Try the math out yourself:
Increased Tax Revenue from Progressive Taxation: $17.568 trillion
Deficit Reduction from Tax Increase Excess $02.889 trillion
Additional Federal health Care Spending $14.679 trillion
Total Savings from Health Care Efficiencies $09.634 trillion
Reduced Private Spending $19.759 trillion
Additional Spending — Cost of Covering Everyone, $04.553 trillion
and eliminating all co-payments and deductibles!)
= Net REDUCED National Health Care Spending $5.081 TRILLION
The key cost-saving elements include culling administrative expenditures, lowering pharmaceutical and device prices, and lower medical inflation. This would be felt by small business employers who no longer need to struggle to pay employee insurance, and every working American and retiree who would no longer have to deal with co-payments and deductibles; while branching out to make sure each under or uninsured individual is covered.
Tonight, as we watch as the Republicans perform their song and dance in front of the nation, we will smile quietly. Sanders has something that Republicans don’t- crystal clear plans for comprehensive health care reform. Knowing this, we should rally for Sanders, a rare candidate with our interests in mind and an actionable plan to ensure high quality healthcare for all Americans.
Colin Taylor is the editor-in-chief of Occupy Democrats. He graduated from Bennington College with a Bachelor's degree in history and political science. He now focuses on advancing the cause of social justice and equality in America.