The Koch-backed Mercatus Institute was humiliated last month when it published a scare story claiming that American couldn't afford the $32.6 trillion cost of universal health care for the next decade, a number that seems huge until you realize that the cost of privatized US health care over the same period will be $2 trillion higher.
Understanding the difference requires that you abandon the simplistic notion that a sovereign nation with its own currency is like a household with a credit-card; in Modern Monetary Theory, we think of money and debt in very different ways.
JD Alt's essay, How to Calculate the Costs of #MedicareForAll Properly, delves into good detail on how MMT would cost out Medicare for All, but really, here's everything you need to know:
The actual macro-economic bookkeeping for Medicare-for-all, then, is this:
1. Uncle Sam spends $3.3 trillion to pay for America’s health services;
2. U.S. families and businesses save $3.3 trillion by not having to spend it for their health-care;
3. The health-care industry earns $3.3 trillion by providing services;
4. The U.S. financial sector owns $3.3 trillion in treasury bond “savings accounts.”
How to Calculate the Costs of #MedicareForAll Properly [JD Alt/Naked Capitalism]
Zipstitch is a patch that closes wounds without stitches. It’s available over the counter, but I suggest if you get a cut big enough to require this nifty gadget, you should probably go to the doctor as soon as you can.
Well, this is a big old red flag. And an anti-science lie.
In Deposition of respiratory virus pathogens on frequently touched surfaces at airports, published in BMC Infectious Diseases, a University of Nottingham team reveal that the airport security trays they swabbed in the Helsinki airport contained more infectious agents than the airport's toilets.
As more companies leverage cloud technology to unite and streamline their operations, the need for capable IT pros increases. But, as any IT guru will tell you, demand alone won’t get your foot in the door to this lucrative field. If you want to cash in on the demand and build a thriving IT career, […]
iOS 12 is finally here, which means now is the best time for aspiring developers to throw their hats into the app development game. While app development can be tricky for some, you can take an intuitive, beginner-friendly approach to understanding app creation and Apple’s latest iOS platform with the iOS 12 & Xcode 10 Bootcamp, […]
It might still be September, but the holiday season will be here before you know it, which means now is the time to think about where you want to vacation to—and what to do once you get there. To this end, we’ve scoured the Web and tracked down a number of travel hacking ebooks, gadgets, […]