Economics of Medicare

Get ready to have some truth shoved down your fact hole – Medicare is broken, big government doesn't work.

New Majority Article:

Admin Cost Study:

(a very widely-cited study with lots of fun facts that seemingly contradict the people who cite it…but only seemingly)

Overall Cost Growth:

Medicare Bankruptcy Report:

Washington Post Cites Tort Reform Numbers:

(I cannot find the original study, only citations – mostly discrediting it – maybe they took it down out of shame)

Just for Fun:

(I didn't mention this in the video, but just for fun, read this and see how many blatant contradictions, misstatements, and misrepresentations you can find in this piece by David Frum)

20 thoughts on “Economics of Medicare

  1. The United States already has socialised health care. Because if you are
    sick and you go to any hospital your gona get treated.

  2. @simontimon2 That isn’t what socialized means. Socialized means that the
    government owns and controls a given industry. Also, you still get billed
    for going to the ER, and those who can’t pay the bills not only get their
    credit ruined, but it increases the costs for those who can. The situation
    would benefit in almost every way if we had legitimate single-payer health

  3. To do that taxes would have to double and do you think the country in a
    ression is capable of achieving that.

  4. Love your approach and wry tongue in cheek humor while sticking to the
    data. I teach economics and plan to post links for my students. Also, I
    practice forensic economics and write occasional articles on health care
    and related topics for our regional legal newspapers. I have included some
    of your videos in my Health Care Economics playlist. Keep up the good work.

  5. @simontimon2 Do you realize that every other country with UHC/socialized
    health care pays at MOST half of what we do per capita on health care? If
    we implement UHC in the same way other countries have, we will end up
    spending far, far less than we do with our current system. Taxes do go up,
    but they go up far less than people are paying right now in insurnace
    premiums. This makes sense; insurance costs go down when you have more
    people in your risk pool.

  6. I disagree with basically everything you said but I have to give credit
    where credit is due “We gotta fix tort reform and that is going to save
    America. How do I know? Because I heard it on the radio. ” Genius hehe.

  7. @NoAntecessor Agreed. I have yet to meet the person who completely supplies
    his own food and water and air.

  8. Medicare is going to become much more expensive though. Part B will
    skyrocket because wealthy people are opting OUT of part B. Why? Because
    part B is based on income and they really don’t want to subsidize poor
    people. That leaves fewer people paying part B and that means much higher
    premiums for you poor and middle class folks. The rest of us opt out, pay
    cash for care, get a DISCOUNT when we go to the doctor and get the best
    care and best of all WE DON”T HAVE TO DEAL WITH MEDICARE. 

  9. The Heritage Foundation is a conservative American think tank based in
    Washington, D.C. The foundation took a leading role in the conservative
    movement during the presidency of Ronald Reagan, whose policies drew
    significantly from Heritage’s policy study Mandate for Leadership.

  10. What we need to do is let taxpayers check off on their income tax form
    which political party they want to authorize to manage their money and make
    each political party responsible for paying off their own debts with their
    own tax money and spending their own taxmoney on whatever’s a good
    investment. We pay more fighting ea other

  11. I’m retired military living just above the poverty line and paying over
    $300 quarterly so my wife can get treated for rheumatism. I would love it
    if you could arrange to take money out of George Soros and Jane Fonda’s
    Swiss bank accounts to pay for it but I damn sure wouldn’t trust either of
    them to manage my health care because they hate American military veterans
    and would likely help us die of AIDS

  12. The fact that rich liberal Democrats like Jane Fonda were on the side of Ho
    Chi Minh and Saddam Hussein and Che Guevarra when those mass murdering
    socialists were trying to murder me and my buddies in the American Army
    makes it difficult to believe trusting them with my health would be a wise
    option. I don’t go to Jonestown.

  13. Forget this nonsense. Google “how much does an appendectomy cost” and you
    find that in the US it costs about 30,000 dollars (varies from 9-30k when I
    looked today), In France, it costs the uninsured (i,e. non subsidized)
    person about 7,000 dollars (converting at current rates). An appendectomy
    is a farly standard procedure diagnostically and surgically, Why the
    difference? The US system is rigged to favor the hospital and insurance
    corporation. Just get rid of them and SAVE!

  14. The heritage foundation is a republican think tank funded to provide false
    information as a basis for propaganda. You fell for it, or I fell for it,
    you see a huge part of the problem is that the truth has also been
    privatized and as such, it’s getting harder and harder to discern the
    truth, especially because it’s being manipulated for profit. Also, the
    private system doesn’t provide for everyone, it… well… fails in that
    respect. Capitalism is for the rich, not for everyone, hence socialism

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