The cost of critical social goods like health care and education in the U.S. are high … far higher than our peers. The average salary for an American worker can no longer cover the basic costs of middle-class life.
To solve this problem, progressive politicians like Bernie Sanders want the government to pitch in to help people afford a better life. But there are two serious problems with this.
First, it means that the debate about social spending and public welfare in the U.S. is all about costs and taxes. That’s a game progressives can never win in our antitax society.
The second problem is that subsidizing outrageously expensive products like health care, education, housing and other social goods without addressing why they’re so expensive means we’ll simply end up shoveling taxpayer money into the accounts of the people and institutions who supply them. And that’ll give them even more of an incentive to keep raising their prices.
Building on my longstanding interest in market structure and public policy, in today’s video — sure to be controversial! — I explain why the most progressive approach to solving America’s problems is in some ways the most conservative one.
Click here to watch.
It’s Time to Pay Attention to Who’s Charging, and How Much
Yes, these problems the Democrats are trying to solve are real. But some of their proposed solutions in the Build Back Better bill will produce exactly the opposite result of what they’re trying to achieve.
If we want to keep taxes low, markets free and society happy, we must address the reasons why basic social goods are out of the reach of so many Americans.
I identify those reasons in today’s video … and what we could do to tackle them once and for all.
Click here to watch or click on the image below:
Editor, The Bauman Letter