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]
In March 2018, Nathan Ganas was murdered in his driveway in Durban, South Africa, during a botched hijacking; now Momentum, the insurer who wrote the 2.4m Rand (USD 170,700) policy on his life, is refusing to pay out because they say he didn't disclose his elevated blood-sugar levels when he took out the policy -- […]
An Australian developer named Mark Watkins painstakingly reverse-engineered the proprietary data generated by Continuous Positive Airway Pressure (CPAP) machines and created Sleepyhead, a free/open piece of software that has become the go-to tool for thousands of sleep apnea sufferers around the world who want to tune their machines to stay healthy.
The Moroccan Euphorbia resinifera plant produces a resin so spicy that it attains a whopping 16,000,000,000 on the Scoville scale, 10,000x hotter than a Carolina reaper chili.
The key to learning any new language is feedback. When you’re immersed in conversation, it’s easy to pick up key phrases and pronunciation, but not all of us have the means to jet off to Spain, France or wherever we can learn to speak like a local. The next best thing: The Mondly app. Mondly […]
Got a gadget-minded geek on your holiday list this year? Don’t wait for Black Friday. The prices are already dropping on some quality tech toys, and we’ve got a roundup of some of our favorites. Force Flyers DIY Building Block Drone MSRP: $49.99 | Normally: $42.99 | Price Drop: $39.99 (20% Off) Compatible with everybody’s […]
Ever wondered what it takes to make the transition from amateur photography to a full career? If you answered “a better camera,” you’re half right. Before you get the equipment, get the know-how to use it with the Hollywood Art Institute Photography Course & Certification. Taught by experienced pros, this course is geared towards shutterbugs […]