[Ed. – They stand behind it proudly.]
More than 100 House Democrats — nearly half of the new majority — have signed on to a new single-payer healthcare bill that supporters describe as “battle ready.” If by “battle ready,” they mean, “extremely controversial, deeply politically risky, and totally bereft of any acknowledgement of the proposal’s eye-poppingly exorbitant costs,” they’re undoubtedly correct. Politico’s story on the legislation is full of extraordinary tidbits and quotes. Here are some of the most important facts we’ve learned:
(1) The bill “doesn’t include a price tag or specific proposals for financing the new system, which analysts estimate would cost tens of trillions of dollars over a decade.” The lead sponsor of the bill says her crew will release a list of “suggested funding mechanisms” at some point in the future. One of these mechanisms, we’re told, is “a tax on high earners.” If you’ve been following this debate, you’re well aware that targeted taxes on ‘the rich’ would be woefully insufficient in raising even a fraction of the expected cost. Enormous tax hikes on all Americans would be necessary. This math is not seriously disputed.