12-03-2019, 10:19 PM
If we get Medicare for all who want it (ie: the public option) then every year, there will be a migration of people who have lost their insurance (by losing a job, for instance) into the public option. The fact that the public option is always there and can't be taken away from you makes it the obvious choice, particularly if the premiums and payouts are better than you can get in the private sector. The predictable result would be that most small companies will stop providing insurance because their employees will go to the public option. The medium term result is that private insurance will dwindle as part of the economy.
And what of all those people who used to work in the insurance industry? Some of the money that went to pay their salaries will be generated through taxes, and some of that will go to pay salaries as workers migrate into more productive sections of the medical economy. For example, we are in need of people to provide care to the elderly and child care workers.
But yes, there would be some unavoidable unemployment, particularly of a temporary kind, just as there have been losses in coal mining and in steel mills. If we were being rational, we would be creating the solar energy industry on a large scale, and this will create millions of jobs of all kinds.
And what of all those people who used to work in the insurance industry? Some of the money that went to pay their salaries will be generated through taxes, and some of that will go to pay salaries as workers migrate into more productive sections of the medical economy. For example, we are in need of people to provide care to the elderly and child care workers.
But yes, there would be some unavoidable unemployment, particularly of a temporary kind, just as there have been losses in coal mining and in steel mills. If we were being rational, we would be creating the solar energy industry on a large scale, and this will create millions of jobs of all kinds.