A new analysis shows that Bernie Sanders’s’ signature proposal of Medicare For All would be a net positive for the economy and jobs.
A new analysis of the economic impact of a Medicare for All health care reform, like the signature policy proposal of Democratic presidential candidate Bernie Sanders, suggests that such a plan would not only increase wages for workers but also create additional jobs.
Sanders, a progressive senator from Vermont who is currently a close second to former Vice President Joe Biden, the Democratic frontrunner, has long advocated for a universal or single-payer health care system. Critics argue that such a policy would lead to mass job loss and be an economic drain on the country, but the new analysis published Thursday by the Economic Policy Institute (EPI) suggests the opposite would happen.
Josh Bivens, EPI’s director who conducted the study, wrote in the report that Medicare for All “would be unambiguously positive” for the labor market in the U.S., leading to a “boost in wages and salaries” as well as an “increase in job quality, while producing “a net increase in jobs.”
Although the analysis notes that policymakers should not “ignore the distress caused by job transitions” due to such a health care reform, Bivens wrote that job losses during a transitional period would be “relatively small.”
“Despite the fact that M4A [Medicare for All] could deliver these large benefits to efficient labor market functioning, the policy often comes under fire from critics making highly exaggerated claims about the potential job loss that could occur under such a reform,” Bivens noted.
America’s abominable health care system has resulted in fraudulent companies taking advantage of people’s fears about health care costs to scam them. Samantha Bee explains a case where Christian businesses are exploiting people with health insurance plans that are not really insurance and where coverage is frequently denied so that in some cases, only 20% of the premiums go towards health care.
And while we are at it, we should highlight that in 2019, 10 of the top healthcare CEOs took in a total of $300 million in compensation.
Any wonder why the health insurance industry and the politicians that they have bought are so opposed to Medicare For All? How will these executives be able to afford their yachts?