“For years, Democrats have attacked Republicans for “ending Medicare as we know it,” often resorting to demagoguery and falsehoods. This scheme would literally end Medicare, creating a brand new, massive entitlement that seniors and Medicaid recipients would have no choice but to join.”
(Guy Benson – Townhall) More than 100 House Democrats — nearly half of the new majority — have signed on to a new single-payer healthcare bill that supporters describe as “battle ready.” If by “battle ready,” they mean, “extremely controversial, deeply politically risky, and totally bereft of any acknowledgement of the proposal’s eye-poppingly exorbitant costs,” they’re undoubtedly correct. Politico’s story on the legislation is full of extraordinary tidbits and quotes. Here are some of the most important facts we’ve learned:
(1) The bill “doesn’t include a price tag or specific proposals for financing the new system, which analysts estimate would cost tens of trillions of dollars over a decade.” The lead sponsor of the bill says her crew will release a list of “suggested funding mechanisms” at some point in the future. One of these mechanisms, we’re told, is “a tax on high earners.” If you’ve been following this debate, you’re well aware that targeted taxes on ‘the rich’ would be woefully insufficient in raising even a fraction of the expected cost. Enormous tax hikes on all Americans would be necessary. This math is not seriously disputed.
(2) Via NBC News, “The legislation’s most contentious provision would end private health insurance and replace it with a government system.” Yes, virtually all private coverage would be outlawed, forcing every single American into an innovation-crushing, government-run system. Approximately 177 million Americans currently receive private health insurance, either through their employers, or directly from insurers. The vast majority of these people are satisfied with their coverage, according to Gallup. All of these people would be uprooted from their existing plans and funneled into the federal bureaucracy. On the matter of ripping people away from their existing status quo, this proposal gets worse — both practically and politically: