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This simple math would literally be an F in any of the economics courses I took beyond the first month of econ 101. Now cue the morons 10 3 Im surprised that people commenting on this article are claiming to be so objective and fact-based while dismissing the concept of Single Payer out of hand. Medicares overhead is less than 5%. That tracks with the overhead rate in places like France where there is socialized health insurance. Private health insurance overhead, including marketing costs and profit, is more than 15%. Single Payer might require some new taxes, but remember that the health insurance premiums which employers and employees are currently paying would go away. Also, any taxes are not going to be levied on a per-capita basis, but as a percentage of income, so you shouldnt try to scare people by saying that theyre going to get hit with $19,000 in additional taxes. In the long run, society may realize additional savings, since parties injured in accidents will not have out-of-pocket medical expenses, which inflate tort claims. 2 0 The Affordable Care Act Solution is probably the best solution to a difficult situation. The act, however, needs some reforms. Debate on how much to subsidize certain groups are valid.
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