GOP Tax Reform is Worth $39,000 to Georgia Families

Because of lower taxes and higher wages, the average Georgia household will enjoy more than $39,000 in economic benefits over their lifetime thanks to the 2017 federal tax cuts. That’s the conclusion of a Goodman Institute study by Boston University professor Laurence Kotlikoff. An earlier study by Kotlikoff and economists at the Federal Reserve Bank of Atlanta, also partly funded  by the Goodman Institute, estimated the gain at $22,676 because of personal income tax cuts. The new study adds the impact of lower corporate taxes. More

Q & A on the Labor Market

Forbes

Finance and accounting are probably the easiest health care services to outsource. But the potential list is growing. It’s estimated that one-third of all physician visits could be replaced by consultations using Zoom, Skype or Facebook – and the incidence of such remote consultations is soaring.

In the future, your doctor could be in India. So could your accountant, your lawyer and dozens of others who produce goods and services you consume. More

Bipartisan Health Reform

Forbes

Avik Roy’s think tank, the Foundation for Research on Equal Opportunity (FREOPP), has produced a health reform proposal that has been introduced as a bipartisan bill in Congress. There is a lot of overlap with proposals you will find in the Health Care Choices document (endorsed by more thatn 70 representatives of think tanks and public policy organization) and many of these ideas are being implemented buy the Trump administration. More

Q & A on Prescription Drugs

Forbes

Until recently, every patient with the coronavirus in the United States for the past ten months has been treated with a non-approved drug. What allows doctors to do this? They have always been able to do it.

In medicine, the use of non-approved drugs is ubiquitous. In fact, medical science couldn’t progress without it. In treating a patient with a brand-new condition (like Covid), for example, doctors often experiment with drugs that have worked for related conditions. They compare notes. They trade data on outcomes. They discard less-promising therapies for more promising therapies – in a trial and error process. More

Biden tax plan hurts workers

Biden Tax Plan 2020

One of the intellectual architects of the 2017 tax cut legislation says the Joe Biden proposal to reimpose higher tax rates will be harmful to the economy and to working families. Earlier studies by Boston University professor Lawrence Kotlikoff and his colleagues found that “the United states had one for the highest corporate tax rates in the world.” As a result of lowering the top corporate rate from 35% to 21%, the US became competitive and more than $1 trillion has been repatriated by US firms. In a new study, Kotlikoff finds that the Biden proposal to undo half the cut in the corporate income tax rate will lower wages and cost jobs. MORE

How Trump is Changing Health Care

Writing at National Review, Marie Fishpaw (Heritage Foundation) and John Goodman say that little noticed health policy changes are revolutionizing the health care system. These are changes that are almost never mentioned in the mainstream media, are largely ignored by the heath care media and are rarely mentioned by the candidates themselves – including the President and the Vice President. They include virtual medicine, allowing employees to have around the clock primary care from a doctor of their choice and allowing employees to obtain individually owned health insurance with employer money. MORE

Public Option health plans don’t save money

Presidential candidate Joe Biden and other Democrats have proposed creating a government-run plan to compete with private insurers in the (Obamacare) health insurance exchanges. They say the result will be lower premiums. Yet writing at National Review, Ed Haislmaier and John Goodman say there are several public options” available already in some exchanges and they are not saving consumers any money. Similar to public options, 23 health insurance cooperatives were created under Obamacare, and supported with government subsidies. Of those 23 co-ops, only four still survive — a 79 percent failure rate. MORE

Kotlikoff and Mina on Home Testing for Covid

Writing in the Wall Street Journal, Goodman Institute Senior Fellow Lawrence Kotlikoff and Harvard epidemiologist Michael Mina say the new point of care test developed by Abbott Labs is the right test at the right time.

Here is the disappointment. To conform with government regulations, this test has to be administered in the presence of a medical professional (such as a nurse). That means its value will be limited to schools, large companies, hospitals, etc. It won’t be useful for people who most need to be tested. We don’t insist on having a nurse present when a woman conducts her own pregnancy test. How is a Covid test any different?

What we really need are 150 million tests a day. In the home. MORE

Solutions for Pre-Existing Conditions

Forbes

The best position on pre-existing conditions is not to argue that the problem is small, although it certainly is, writes John Goodman at Forbes. Our argument should be that many – perhaps most – people who come to the individual market with a pre-existing condition are worse off because of Obamacare than they would have been under the old system. And that there is a conservative approach that is much better. More

WSJ endorses our view on pre-existing conditions

Joe Biden claimed at Tuesday’s debate that “100 million people who have pre-existing conditions” will lose insurance if the Trump Administration wins an Affordable Care Act case at the Supreme Court. Democrats have terrified voters with this fiction for years, and Republican confusion has helped keep the fear alive. So let’s explain the reality one more time.