[Marxism] Paying for Medicare for All

Dayne Goodwin daynegoodwin at gmail.com
Sun Nov 3 18:00:20 MST 2019

Warren's Plan to Pay for Medicare For All

On Sat, Nov 2, 2019 at 9:41 PM MM <marxmail00 at gmail.com> wrote:

> On Nov 2, 2019, at 10:02 PM, Dayne Goodwin via Marxism <
> marxism at lists.csbs.utah.edu> wrote:
> Paying for Medicare for All
> by Elizabeth Warren, Medium, November 1
> https://medium.com/@teamwarren/ending-the-stranglehold-of-health-care-costs-on-american-families-bf8286b13086
> Warren has fallen into the fatal trap that “scarcity-of-money”
> propagandists have been constantly setting and baiting for decades.
> State-funded public services don’t “cost” a country anything; they are
> injections of liquidity that improve the lives of those who are served, and
> unleash the spending power of the people who are employed to provide them;
> they also lend themselves to growth in union membership and power. This is
> why public services have been gutted under neoliberalism, and why
> blank-check deficit spending has been anathemized for anything but the
> military.
> As Sanders advisory Stephanie Kelton succinctly puts it, money doesn’t
> grow on rich people. Government spending isn’t dependant on taxes (although
> taxation plays a role in keeping inflation in check, and in shaping the
> broad outcomes of an economy, even in class terms — i.e., which class has
> how much spending power). This is the main lie of neoliberalism (and its
> post-WWII precursors) that folks writing under the flag of “modern monetary
> theory” have been at pains to expose and debunk. Here’s a good piece on it:
> "Modern monetary theorists believe that confusion around money has
> distracted economists from the real things that affect the economic health
> of society ― natural resources, technology, available labor. Money is a
> tool governments use to manage these variables and solve social problems.
> It is not a scarce resource that governments have to track down in order to
> pay for projects.
> “‘The basic idea is that the government can’t run out of money,' Kelton
> said. 'It creates money just by spending.’
> “When people talk about government profligacy bankrupting their
> grandchildren or triggering a cataclysmic debt crisis, Kelton argues,
> they’re conflating the experience of a typical family, which has to get
> money from somewhere outside the household to meet expenses, with that of
> a sovereign government, which creates money as part of its basic operation.”
> Link:
> https://www.huffingtonpost.co.uk/entry/stephanie-kelton-economy-washington_us_5afee5eae4b0463cdba15121
> Warren’s perpetuation-by-silence of the lie that we “can’t have nice
> things” unless we squeeze money out of the rich is just further proof of
> her radical establishmentarianism.

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