So this is what nationalized health care looks like. We knew that half the U.S. population—some 177 million people—would lose their private insurance. Now we find out that federalized health care would cost nearly $52 trillion over 10 years, paid for by myriad bureaucratic “savings” and new taxes. There’d be a new Employer Medicare Contribution (i.e., a tax) plus an annual tax on the unrealized capital gains of the “wealthiest,” plus a threat to abrogate drug companies’ patents if they don’t comply with federal price controls. Doctors, some warned, might leave the profession.
If costs outpace economic growth (and they would), “I will use available policy tools, which include global budgets, population-based budgets and automatic rate reductions to bring it back in line.” The left may never forgive Elizabeth Warren for releasing all this detail.
Ms. Warren has let the cat out of the bag: Progressivism is basically undeliverable pie in the sky. Indeed, by stringing together in detail so many progressive wish lists, she has made clear how difficult, if not impossible, it is for them to survive the most basic tests of political or fiscal plausibility.