Don’t hold your breath‼️
Eight percent of payroll is about what the average employer spends on employee health benefits (government employers are more generous and spend about 11%).
Do you think your employer would give you a raise to compensate you for this loss if we adopt a single-payer health care system or at least the difference between the 8% and any new employer tax?
I have my doubts. But it’s something to think about 😎
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To “buy” votes, the premium individual’s pay will likely come from income taxes. As almost 50% don’t pay those taxes, …
But, no one thinks health spend will be equal to 8% of wages as it is 18% of GDP and we know GDP > NMI > personal income.
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Not a snowballs chance in hell that the savings will be passed on. Just like if they changed SS so it was funded by a general sales or VAT tax, no increase in wages for the average worker, just increased taxes.
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How about seeing an 11% savings in my taxes? Reality will probably be an 8% cut in benefits plus 8% more in taxes to bailout the single payer system. By my fuzzy math that is a 16% cost shift to me. What ever math you use and whatever the real numbers will be, at least everybody will a get a free rectal exam from the politicians.
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