Advocates for a California-only single-payer program must have swallowed hard Monday when they read a legislative staff report that placed the annual cost at $400 billion, given that the entire $184 billion state budget wouldn’t cover even half of that.
Roughly $200 billion of that price tag would come from a new tax, which would be the equivalent of 15 percent of earned income, says the staff report issued in advance of the Senate Appropriations Committee hearing. Some costs to employers and employees would fall, but new spending would be, oh, $50 billion to $100 billion a year.
Besides the matter of how to pay for it, no one knows how the state, which would be entrusted with managing the brave new health care system, would curb health care costs.
Source: The Sacramento Bee