What About the Displaced Insurance Workers?
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A key feature of Bernie Sanders’s Medicare for All Act is the just transition it promises to the more than 800,000 private insurance industry workers who will be displaced.
While often treated as a perk intended to boost popularity, the PERI study proves that it is in fact a necessary policy component of the bill. Without offering generous benefits to workers from the abolished private insurance industry, the impressive macroeconomic benefits of the plan could be squandered due to a rapid rise in unemployment and income loss.
The Sanders bill provides a broad promise to guarantee assistance to displaced workers. The PERI bill elaborates on this promise with three concrete proposals: pension fund guarantees for all impacted workers; support for near-retirement workers, including 100 percent wage replacement for multiple years; and support for displaced workers, including job training and relocation support and total wage replacement for one year.
This fairly generous approach will cost $61.5 billion per year of transition. As we’ve already seen, Medicare for All can be expected to operate with a $30 billion surplus, which could be used to cover half of these needed funds. The PERI study proposes that the rest be raised through a 0.6 percent increase in the net-worth tax.
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction
April 13, 2019 at 6:52 PM #53837Ohio BarbarianModerator
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Well, I’m sure a number of employees will be able to get nice federal jobs, for the federal bureaucracy would have to be expanded some to effectively manage such a program. They’d get better pay, more holidays, and not have to worry about paying for their private health insurance anymore.
It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs
You can jail a revolutionary, but you can't jail the revolution.--Fred Hampton
April 13, 2019 at 7:09 PM #53843djean111Participant
- Total Posts: 6,571
So – how many deaths and bankruptcies is one of those jobs worth?
Job outsourcing is when U.S. companies hire foreign workers instead of Americans. In 2013, U.S. overseas affiliates employed 14 million workers. The four industries most affected are technology, call centers, human resources, and manufacturing.
The main negative effect of outsourcing is it increases U.S. unemployment. The 14 million outsourced jobs are almost double the 7.5 million unemployed Americans. If all those jobs returned, it would be enough to also hire the 5.7 million who are working part-time but would prefer full-time positions.
According to the US Citizenship and Immigration Services (USCIS), there were as many as 419,637 foreign nationals working in the US on H-1B visas as on October 5.
I think about 700,000 jobs have been lost to NAFTA. The government, IMO, reveled in that.
The only time the US government cares about lost jobs is when it affects Wall Street negatively. If that has ever happened…
America is not a country, it's just a business. (Brad Pitt, Killing Them Softly)
Everything I post is just my opinion, and, honestly, I would love to be wrong.
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