No, Bernie Sanders’ Domestic Policy Plan Doesn’t Really Cost $18 Trillion

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The Wall Street Journal says Bernie Sanders’ domestic policy plan would cost $18 trillion over ten years. Is this true?

It depends on how you look at it. First, there’s a set of proposals that the Journal estimates would cost about $3.4 trillion. That’s not pocket change, but it’s about as much as Jeb Bush’s tax cut. The big difference is that Jeb’s tax cuts mostly benefit the rich, while Bernie’s proposals mostly benefit the poor and the middle class. You can decide for yourself which you prefer.

Then there’s the $15 trillion price tag for universal health care. Is this a fair estimate? It’s probably in the ballpark. Private health insurance accounted for about $1 trillion in spending last year, and assuming reasonable growth that will probably come to around $15 trillion over the course of a decade.

But here’s the thing: this is money we already spend. Right now, employers and workers pay insurance companies $1 trillion for health care. Under Bernie’s plan, we’d instead pay that money to the federal government. Generally speaking, this would be invisible to most of us. Behind the scenes, our dollars would flow to a different place, and that’s about it.

So the Sanders plan wouldn’t actually take money out of our pockets. It’s a wash. It needs to be evaluated instead on all the usual metrics. Would the government do a better job of holding down costs? Would government control distort market signals? Would innovation suffer? Would most of us have more choice in health care providers? Would more people be covered? Etc.

Bottom line: You should think of the Sanders plan as costing about $3.4 trillion. You may or may not like the idea of universal health care, but it wouldn’t have much impact on how much money you actually take home each week.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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