Chris0nllyn
Well-Known Member
And will probably make them broke.
Last night, the state assembly passed (again, they tried this in 2015 and last year) the NY Health Plan (87-38).
An economist at UMass, Gerald Friedman, estimated (back in 2015) that single-payer healthcare in New York would cost more than every other aspect of state govt. even with an expected $44 billion reduction in healthcare spending. Freidman estimates that to pay for this bill, NY should tax dividends, interest, and capital gains anyway from 9-16% (based on income).
http://www.infoshare.org/main/Economic_Analysis_New_York_Health_Act_-_GFriedman_-_April_2015.pdf
According to the Foundation for Research on Equal Opportunity's recent analysis of NY's proposed plan, the real price could be upwards of $226 billion per year.
https://drive.google.com/file/d/0B4VpAFwBu2fUZ25vOFZnLXVZVkE/view
The problem, outside of a hairline Democratic majority state assembly (assuming a Dem wins the special election coming up in a few days), is that New York collected $71 billion in revenue last year. In 2019, when the plan would be implemented, the state expects $82 billion in revenue. They'll have to double (plus some) to pay for single payer (assuming the low-end of estimates, which we all know isn't typical for govt. projects) which means New York could have both single payer healthcare, and the highest taxes in the country.
Last night, the state assembly passed (again, they tried this in 2015 and last year) the NY Health Plan (87-38).
An economist at UMass, Gerald Friedman, estimated (back in 2015) that single-payer healthcare in New York would cost more than every other aspect of state govt. even with an expected $44 billion reduction in healthcare spending. Freidman estimates that to pay for this bill, NY should tax dividends, interest, and capital gains anyway from 9-16% (based on income).
http://www.infoshare.org/main/Economic_Analysis_New_York_Health_Act_-_GFriedman_-_April_2015.pdf
According to the Foundation for Research on Equal Opportunity's recent analysis of NY's proposed plan, the real price could be upwards of $226 billion per year.
https://drive.google.com/file/d/0B4VpAFwBu2fUZ25vOFZnLXVZVkE/view
The problem, outside of a hairline Democratic majority state assembly (assuming a Dem wins the special election coming up in a few days), is that New York collected $71 billion in revenue last year. In 2019, when the plan would be implemented, the state expects $82 billion in revenue. They'll have to double (plus some) to pay for single payer (assuming the low-end of estimates, which we all know isn't typical for govt. projects) which means New York could have both single payer healthcare, and the highest taxes in the country.