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Just Adopt Just Health Care

Here's How
To Pay For It


The Labor Party's Plan
For Financing Just Health Care

Paperwork (H.L. Delgado photo)

Just Health Care will eliminate many administrative jobs. Just Transition will ease the way for these workers. Photo ©2000, H.L. Delgado, Impact Visuals

How much would it cost to insure the nation’s 45 million uninsured; eliminate all deductibles and co-pays; and insure everyone for nursing home and other long-term care, mental health and occupational health services, dental and vision care?

Under our current health care system — the one Al Gore and George Bush want to preserve — it would cost a fortune. But under the Labor Party’s Just Health Care plan, we can do all that without paying a cent more as a nation for health care. The key is eliminating the wasteful bureaucracy and profit-taking of insurance companies — and the institution of global budgeting.

The Labor Party, in collaboration with leading economists and health care analysts, has released a plan detailing just how we would pay for Just Health Care. Under the plan, the U.S. would continue to spend the same amount on health care as now: $1.213 trillion. The budget is outlined below. (For the full plan, please see LP Briefing Paper: Financing Just Health Care).

Government: $533.3 billion

Federal, state, and local governments would contribute the same amount they currently pay for Medicare and other federal and state programs.

Employers: $155.1 billion

We would impose a modest tax of 3.303 percent on employers’ payroll. The tax would be substantially less than what most employers now pay for health insurance.

Income Taxes on the Wealthy: $161.9 billion

Between 1982 and 1995 alone, the wealthiest one percent of Americans saw their household net income rise about 17 percent while the bottom 40 percent saw a drop of nearly 80 percent. The Labor Party proposes to close that gap a bit with an extra 5 percent income tax on taxpayers with average incomes of $183,200. We would also impose a 10 percent income tax on the richest one percent of Americans.

Tax on stock and bond transactions: $128.4 billion

We would impose a tax on all stock transactions equal to one half of one percent of the stock’s purchase price. The tax would be minimal for those who hold onto the stocks, but expensive for speculators.

Budget Surplus: $100 billion

Democrats and Republicans want to spend the nation’s massive federal budget surplus on tax cuts and measures benefiting the wealthy. We propose to spend a small portion of the surplus on something worthwhile: health care for all.

Corporate Tax Shelter Loophole: $60 billion

For every dollar of profit reported to shareholders by corporations back in 1990, 91 cents was taxable by the IRS. By 1997, that number had fallen to 70 cents. We propose to close some of the loopholes that made this rip-off possible and apply the money to health care.

Individuals: $44.6 billion

Under Just Health Care, individuals would no longer have to pay health insurance premiums, co-payments, Medicare Part B or any out-of-pocket costs for dental, vision, or prescription drugs. As a result, total household expenditures on health care would drop from $327 billion to $45 billion.

Other Revenues: $33.2 billion

Donations from individuals and foundations would continue to make up a small part of the national health care budget.

Total Budget: $1.213 trillion

Just Transition

We estimate that some 1.25 million workers will lose their jobs as a result of the transition to Just Health Care. These workers, who staff insurance companies and provide other administrative services under our current health care system, should not have to shoulder the burden of the nation’s necessary transition to a sane health care system.

The Just Health Care financing plan creates a $171.5 billion fund to help these workers make the transition to other work or retirement. The fund would come from the windfall we will realize as employers move toward paying significantly less for health insurance.

Just Transition would provide every worker who loses his or her job because of the transition to Just Health Care with full take-home pay and benefits for up to four years or a wage subsidy for any worker who takes a job paying less than the old job, and full tuition for up to four years if the worker chooses to attend school.

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Labor Party Press
Labor Party
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September, 2000
Labor Party
Press Index

MAIN STORY
LP Challenges
the Candidates:

Just Adopt
Just Health Care


Here's How to Pay For It

Where Do the Candidates Stand on Just Health Care?

Conversation
with Neal Bisno

(vice pres., Dist. 1199P/SEIU)

Also:
Just Health Care on Ballot in Two States
No LP Presidential Endorsements

Related:
Labor Party
Briefing Paper:
Financing Just
Health Care


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