I read just now the following:
“Alexandria Ocasio-Cortez … was on Jake Tapper’s show on CNN the other day, the host grilled her about how she would come up with the forty trillion dollars needed to fund Medicare for all, housing as a federal right, a federal jobs guarantee, tuition-free public college, and canceling all student loan debt.”
She apparently could not answer the question … <sigh>.
Let me just address funding “Medicare for All (MFA)” for the nonce. Currently, the average family of four pays in excess of $16,000 per year for their health insurance. Mostly this goes unnoticed because these payments are made by their employers as part of their compensation. How much do you think the actual value of that insurance is? If you compare it with costs in other developed countries and look at how inflated the costs are and consider that the insurance companies providing the “insurance” are quite an unnecessary layer of bureaucracy (Medicare has a 3% overhead. If private insurance companies likewise have a 3% overhead, where do all of the handsome profits those companies make come from?). Basically that $16,000 represents a quite unnecessarily inflated cost. Let’s say, for the sake of argument, the actual cost is $9,000 for that family of four. If MFA is invoked, the employers will be required to pay that $16,000 directly to the family and then that family will pay, say $10,000 in taxes (a bit more than their own costs to be able to cover the unemployed, etc.) and pocket the other $6000! (Note: these are not the actual numbers, but even if $100 ends up in your pocket, you would be making money on the deal.)
Once we have Medicare for All, we also have group buying of pharmaceuticals, something Big Pharma has spent billions to avoid (why they are opposed to such a system is it would squeeze its profits down from the astronomical to merely lavish). This will reduce the cost of medicinals, at least to what other countries are paying (for the same drugs from the same companies … yes, they are gouging the Rich Gringos because they can). Similarly there are a multitude of large cost savings that can be wrung out of the system (e.g. there would be only one billing process, not hundreds, for doctors and hospitals to contend with).
Currently the US spends about double what any other rich nation spends on health care per capita. This means we could spend 10%, 20%, or even 30% less and still be spending more than any other country on health care. If you remove the costs of private health insurance companies, we can save even more.
Conservative pundits always focus on the cost/taxes and never mention the cost savings. Ms. Ocasio-Cortez should be better prepared if she is going to go on camera to defend our ideas.
PS The Federal Reserve “printed” several trillion dollars to bail out the banks and Wall Street firms during the Great Recession and these same pundits didn’t blink. Plus that “forty trillion dollars” is not for just one year and they are careful not to mention that.