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So says the analysis of Pulitzer Prize winning journalist and tax law professor David Cay Johnston. Johnton makes it pretty clear that Sanders’ plan will be a boom to the economy. Major US manufacturers have discussed that the current for-profit health insurance system adds as much as $1400 to the cost of manufacturing each vehicle in the United States versus their single-payor competitors, but the savings could be enormous for individuals.
Think about that for a minute, $1400 of the cost of your new Ford or Chevy is healthcare costs for their workers and it is cheaper in Germany or Japan for competitors with universal healthcare. Do you think the price of your next car might fall a bit to compete? Do you think manufacturers might consider America more attractive? Do you think that Walmart might shave $0.02 off a gallon of milk because their healthcare costs went down?
His plans, if smartly put into law, would actually make the economy more efficient, saving taxpayers huge sums in some areas, while costing more in others. In my book "Divided: The Perils of Our Growing Inequality," and in Newsweek and Reuters, I have shown from official data that a smart single-payer system would save so much money it would be the equivalent of eliminating the income tax for 99% of Americans.
This story, to me, seemed to be burying the lead! It is deep into the analysis, but it might be one of the most important points.
Addendum: Thanks to Ozzie for pointing to an article in the comments below by Physicians for a National Health Program for spelling out in more detail how the current system robs Americans. It is interesting reading, and explains how the government already pays for 2/3 of all healthcare spending. www.pnhp.org/...
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