Warren Admits Her ‘Free’ Healthcare Plan Could Cost 2 Million American Jobs
Presidential hopeful says it's 'part of the cost issue'
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Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., admitted on Wednesday that the Medicare-for-All health care plan could result in the loss of two million jobs, agreeing with a University of Massachusetts-Amherst economist's conclusions.
Warren referred to the potential loss of jobs as "part of the cost issue."
Robert Pollin of UMass' Political Economy Research Institute said that the majority of the job losses would affect administrative positions, - about half among insurers, and a half in hospitals and doctors' offices, according to Kaiser Health News.
During the interview with New Hampshire Public Radio, Warren was made aware of Pollin's conclusions.
“So, I agree," replied Warren.
"I think this is part of the cost issue and should be part of a cost plan."
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"Although do recognize on this what we're talking about, and that is in effect, how much of our health care dollars have not gone to health care?" she added.
Pollin said supporters of the radical health care overhaul would need to consider a "just transition" and what "it would look like" when implemented.
For Democrats vying for the White House, Medicare-for-All has become a point of contention.
Warren faced criticism from presidential rivals on how she would raise the necessary $30 trillion over ten years to fund the plan.
But the presidential candidate failed to answer whether middle-class taxes would increase under
During this month's Democratic debate in Ohio, Warren failed to answer whether middle-class taxes would increase under her plan.
But the presidential candidate stated she plans to release a detailed plan soon.
CBO Estimates Warren Would Have to Raise Federal Taxes 70% to Pay for Her Healthcare Plan
— Neon Nettle (@NeonNettle) October 26, 2019
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"We will see, most likely, rich people's costs go up, corporations costs go up, but the cost to middle-class families will go down," she said.
"I will not sign any legislation into law for which costs for middle-class families do not go down."
Warren only taxing the wealthiest Americans to fund her plan would be impossible, according to a bipartisan study.
Fellow presidential candidate Bernie Sanders said taxes will increase “for virtually everybody," but would cost less than what workers are currently paying "for premiums and out-of-pocket expenses."
Sanders also said in July that the 'Medicare for all' plan would cost between $30 trillion and $40 trillion over ten years.
The 2020 hopeful rubbished criticisms of his plan's feasibility as “absurd,” arguing that it would save money, according to The Washington Post.
"What the most serious economists tell us, that if we do nothing to fundamentally change the health care system, which is what Joe [Biden] was talking about, keeping it as it is, we'll be spending something like $50 trillion over a 10-year period,” he said.
