That's a massive sum in a state where the entire general fund budget is $125 billion. But now the Legislature wants to consider a 200 percent increase in the state budget. The estimated gap between current spending and the new plan's spending is estimated to be $50 to $100 billion.
That leaves $200 billion required from new taxes. The state-run system would supplant existing employer health insurance in California, as well as coverage through public programs such as Medicaid and Medicare. "How can you say this will be fiscally prudent for the state?"
SACRAMENTO, Calif. (AP) - A California bill that would eliminate health insurance companies and provide government-funded health coverage for everyone in the state would cost $400 billion and require significant tax increases, legislative analysts said Monday. More than likely, this would come through payroll taxes shared by employers with employees, and could deduct as much as 15 percent of an individual worker's income.
At Mondays hearing, many consumers pointed to Medicare as a model for how single-payer works now and urged lawmakers to make California the proving ground for how it can succeed at the state level. The state has never gotten anything right in health care.. As Vox details, "the state would pay for nearly all of its residents' medical expenses-inpatient, outpatient, emergency services, dental, vision, mental health, and nursing home care-and Californians would not have any premiums, copays, or deductibles". The proposal does not have a specific tax proposal in it, which means it could skirt the two-thirds vote requirement necessary for measures that contain a new tax, the Times reported. Until Democrats control the federal government, though, state-level efforts like the ones in NY and California are likely to continue percolating.
Sunday afternoon clouds to bring 50 percent chance of thunderstorms
As of Sunday evening, the forecast is showing clear skies with highs in the low- to mid-80s for Memorial Day weekend. It won't sweep through fast enough to cool things down much as highs will still be in the upper 80s this afternoon.
That's almost as much as the state will collect this year in income and sales taxes with the nation's highest tax rates.
"Needless to say, doubling California's tax burden would give them the highest taxes in the country by far", Joe Henchman, vice president of state projects for the Tax Foundation, told Reason on Tuesday.
Single-payer advocates learned that lesson a year ago in Colorado at the ballot box, as the state turned blue for Hillary Clinton even as 79 percent of voters said "no" to single-payer health care. The California Nurses Association, which is the driving force behind the bill, has commissioned a study to look at options.
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