Elizabeth Warren STEAMROLLS Meghan McCain on The View

Hey, I have some really interesting video
for you. Elizabeth Warren appeared on the view yesterday. The view is this, a multi host talk show that’s
really become a pretty prominent place for democratic candidates. Really for news makers of all kinds of elected
officials, celebrities, whatever. But the democratic candidates have been stopping
at the view and talking about their campaign platforms and why they believe they should
be the 2020 democratic presidential nominee. The hosts are sort of politically diverse. The notable right-winger on the show is the
daughter of the late Republican Senator John McCain, Megan McCain, and she mixes it up
with some of the left-leaning guests. So yesterday Elizabeth Warren appears a democratic
Senator from Massachusetts running for president. And one of her notable policies, one of her
most well known policy proposals as part of our campaign platform is the wealth tax attacks. That would be a 2% tax on wealth above and
beyond 50 million us dollars. And she was on the view and joy Bay har wanting
to hear about the wealth tax and wanted to say, how will it work? Will it affect the middle class? And Megan McCain kept trying to interrupt
and Elizabeth Warren takes the approach of pretend I can’t hear a word she sang. And as Megan McCain is increasingly and visibly
frustrated with being unable to get a question into Elizabeth Warren. Elizabeth Warren just keeps talking, steamrolling
Megan McCain and Megan McCain becomes visibly annoyed with this. It’s an interesting strategy. So let’s take a look at the video. You’ll be able to get most of what is going
on from the audio as well. You’ll hear Megan McCain continually trying
to talk, so it’ll start with joy Bay. Har asking Elizabeth Warren about the wealth
tax. You will see and hear Megan McCain try to
interrupt multiple times and Warren just keeps on going like a freight train. McCain starts to interrupt about halfway through. It doesn’t go well. Take a look. Yeah, well let’s talk a little bit about the
tax plan. I think it’s time for a wealth tax in America. [inaudible] on the top one 10th of 1% $50 million and
above your fortune. In other words, your first 50 million is free
and clear, but on your 50 millions and first dollar, you’ve got to pitch in 2 cents and
2 cents on every dollar after. What about them? Now, it’s not the middle class one 10th of
1% I don’t have plans to increase taxes on the middle class. Okay. I figured out how to do every plan I’ve done
out there without increasing taxes on the middle-class, but look at what a two-cell
wealth tax would do for us. Universal childcare for every baby in this
country. [inaudible] billion dollars into our public schools make
it a real [inaudible]. So college $50 billion for store black colleges
and universities. [inaudible] Trump just said that we spent
$2 trillion on the military. I said, I don’t want anyone ever to ask Elizabeth
Warren how she’s going to pay for medical [inaudible] Elizabeth Warren straight up pretending that
Megan McCain simply doesn’t exist. Megan McCain ends up sort of like the person
in the corner that nobody’s listening to. Now, I don’t know if this is childish, but
I did find it very satisfying to watch Elizabeth Warren just ignore Megan McCain and you can
agree or disagree with Elizabeth Warren’s plan for a wealth tax, but the handling of
it is just delightful here. Now at the same time, this is a TV show and
I find it compelling the way that it was handled, but I have no problem with challenging Elizabeth
Warren on her wealth tax. There are arguments to be made that it’s politically,
uh, unlikely to become a reality. You can make the argument that it won’t work,
whatever, right? I mean that’s all fine. We can debate that. That’s great. But Elizabeth Warren should be allowed to
at least explain the plan without interruption and a lot of right-wingers, I was looking
online, a lot of right-wingers are just furious with Elizabeth Warren saying, Warren is in
the wrong. Warren won’t let Meghan McCain speak. Warren is the guest joy Bay. Har asked Warren about the policy and Elizabeth
Warren is explaining it and she can’t get through her explanation without Megan McCain
interrupting three or four times. Now, I do think that there’s a lesson here
when people try to prevent you from even explaining your position with bad faith interruption
attempts. Maybe you just talk past them and you don’t
allow them to interrupt you. And Elizabeth Warren running a clinic on that. There was one point at the very end of this
segment which I want to watch again with you were Megan McCain looked so frustrated, she
actually looks off set at someone and looks very awkward. Check it out one more time. I would not be surprised. You know sometimes on these shows that I know
a lot of people who have worked on network and television shows like this and often the
relationships between the hosts behind the scenes get very weird and there are times
where the hosts aren’t even talking to each other except on the show and all communication
between them off the air is happening between representatives. I’m not saying that that’s what’s going on
here, but when I saw you were going to see it here, when I saw Megan McCain look off
to the side, I in a fraction of a second, the scenario that appeared in my mind is she
is disgusted and furious with how she is being treated in terms of how much time she’s being
given or whatever on the show. And she looked to whoever is her representative
or whichever producer has taken her aside and is kind of giving them the, see this is
what I’m talking about. You’ve got to fix this for me. Sort of look, could it be a complete fantasy? But in any case, take a look at the uh, Meghan
McCain reaction here looking off stage. But when that trust just said that we spent
$2 trillion on the military, I said, I don’t want anyone ever to ask Elizabeth Warren how
she’s going to pay for medical care. [inaudible] yikes. I feel like the tiniest bit bad for Megan
McCain, but come on, let Elizabeth Warren explainer plan. Then you can cite whatever talking point you
want to cite in opposition. And please Ken, some Republicans, some right
wing pundits. Please ask Trump, administration officials,
how are you going to pay for the Iran war? Please ask them because when the left tries
to do good things, you can disagree with Elizabeth Warren’s wealth tax approach. You can disagree with Bernie Sanders, Medicare
for all plan or whatever. How are you going to pay for it? We can’t afford it is the, it’s on repetition
from Republicans. And when you want a pointless war to help
Donald Trump get reelected or to distract from impeachment, it may be Rand Paul says,
we can’t afford this, but come on, someone’s stand up on the right and say, how are we
going to pay for this war? Uh, and don’t do it. By the way, in the thinly veiled, xenophobic
way, we’re Tucker Carlson, DHEA. We talked about Tucker Carlson the other night
saying this is totally misguided in Iran and that we have domestic problems to focus on
Tucker’s right, except he wants to focus on all the wrong domestic problems, including
ones that aren’t actually problems. So I would love to see a Republican just stand
up, have a spine, and seriously say, Hey guys, how are we going to pay for this? How are we going to pay for this? And does this make any sense whatsoever? If we believe in checks and balances, I’ve
not seen any serious Republican politician do that so far. Make sure you’re following the David Pakman
show on Instagram at David Pakman. Show continued clips and coverage of all of these stories
and more. There will be back right after the

Warren’s Viral Debate Performance Turns Out To Be Rife with Hypocrisy

Political debate stages can often be a rote
affair. There’s not much that’s redeeming about watching politicians act like children
and snipe at each other while offering empty, pre-written platitudes as “answers” to
debate questions. But those debates do offer some fodder for
social media. And Elizabeth Warren certainly had her Twitter moment during Thursday’s
Democratic primary debate when she slammed fellow 2020 Democratic presidential candidate
Pete Buttigieg for “selling” access and his time. “Billionaires in wine caves should not pick
the next president of the United States,” Warren proudly said. “I do not sell access to my time,” she
later said. The moment was a great soundbite and social
media certainly ate it up. There’s just one small problem with Warren’s
viral line: It’s utterly and completely dripping with hypocrisy. As The Associated Press noted, Warren had
a fundraiser in June 2018, which in and of itself is nothing noteworthy. But some of
the details about that fundraiser are certainly going to raise some eyebrows. Warren, who still hadn’t quite announced
her 2020 candidacy at the time, was charging some eye-popping numbers for some very special
“access” to her “time.” According to the AP, top donors would could
contribute $5,400 per couple, or $2,700 for individuals, would get an exclusive VIP photo
op and premium seating. Anyone who could contribute at least $1,000 would get a souvenir wine
bottle. Nothing about those numbers exactly screams
“everyday American.” The kicker to all of this? Warren’s fundraiser
took place at the City Winery Boston. What’s the old phrase about throwing stones
from glass houses? The hypocrisy may not be all that surprising,
given that this is the same Elizabeth Warren who previously made some good money speaking
to corporations and financial firms, but that doesn’t make it any less pathetic. Warren has characterized herself as some sort
of middle class hero insistent on ridding politics of corporate money. That strategy could backfire, according to
President Barack Obama’s former campaign finance director Rufus Gifford. “Challenge Pete on everything from his age
and experience to his record in South Bend,” Gifford said. “I think that’s totally
fair. “But this is just disingenuous. It implies
a level of corruption and cronyism that is inaccurate and ultimately plays into the hands
of Republicans.” Hate to break this to Gifford, but given the
sheer circus that the Democrats have turned impeachment into, they’ve already played
into the hands of Republicans plenty. Elizabeth’s hypocritical narrative is just
the icing on the cake.

US NEWS | Warren, Gillibrand and Sanders enter 2019 with cash edge Politics

US NEWS | Warren, Gillibrand and Sanders enter 2019 with cash edge Politics Warren reported having over dollar 11 million in the account for her US Senate campaign committee at the end of 2018, per her year end Federal Election Commission report. Gillibrand reported over dollar 10.3 million in cash on hand for her Senate campaign committee, the second highest total among those 2020 contenders filing reports. And Sanders, whose grassroots fundraising strength helped power his 2016 presidential campaign, reported having just over dollar 9.09 million in the bank. No other contender filing a year end report had more than dollar 5 million in cash on hand. Thats money that can be transferred to a presidential campaign. And the same goes for any other potential candidates who currently hold federal office and have funds available in their principal campaign committees, giving them a head start over some of their potential opponents. In a crowded primary field, in a presidential race expected to smash spending records, an initial cash edge can give candidates critical resources to get their message out early. Sen. Kamala Harris flashed robust fundraising potential when she announced that she had raised more than dollar 1.5 million in the 24 hours following her presidential campaign announcement. Separately, the California Democrat reported having just over dollar 1.3 million in the account for her Senate campaign committee at the end of the year. Warrens presidential exploratory committee formed just before the year end reporting deadline didnt report any contributions or cash on hand, but an detailed in ActBlues report suggests Warren raised dollar 299,000 on the platform on the day of her announcement, though that total doesnt capture any funds Warren may have raised outside of ActBlue. Warren, Harris, and any other White House aspirants who announce before March, will file a more complete accounting of their presidential fundraising activities at the end of the first quarter. Former Housing and Urban Development Secretary Julian Castro, who announced his White House bid in mid December, had over two weeks in the year end period to raise funds, and his presidential committee reported raising just over dollar 220,000 and has about dollar 200,000 in cash on hand. Other senators who filed year end reports include Sen. Cory Booker, who reported dollar 4.1 million in cash on hand, the fourth highest total; Sen. Amy Klobuchar with dollar 3.9 million; and Sen. Sherrod Brown with nearly dollar 1.4 million. Rep. Tulsi Gabbard, who is running for president, reported having over dollar 2 million in cash on hand from her US House campaign committee Beto ORourke smashed fundraising records amid his losing Texas Senate campaign in 2018 and launched himself into the presidential conversation, but he spent nearly all of the dollar 80 million he raised in the midterms and reported having just dollar 286,531 in cash on hand. Rep. Eric Swalwell, who said this week he is a decision on 2020, reported dollar 1.67 million in cash on hand. John Delaney, a former House member who has been campaigning for president since July 2017, reported dollar 268,248 in cash on hand for his presidential campaign, and reported loaning his campaign dollar 1 million in the last quarter of 2018. Another key gauge of a candidates strength is their small dollar fundraising support how much money they raised from contributions under dollar 200. Warren 92.7 percent , Gillibrand 81.66 percent , Harris 73.3 percent , Brown 78.9 percent and Gabbard 93.4 percent all benefited from high small dollar support, calculated as the percentage of individual contributions they received that came from those small dollar donors. The year end reports also shed light on the spending activity of 2020 contenders in the period immediately preceding some of their presidential announcements. Warren, just weeks from her announcement, spent the most on transfers to state party committees, staff salary, and internet advertising, while Harris directed the vast majority of her spending to web advertising. Gillibrand spent the most on staff salary and communications consulting, according to her report, while Booker split is spending mostly on a mix of staff related expenditures, advertising and fundraising consulting service.

The Complete Moderate’s Guide to Healthcare

A fake Youtube chef cut his hand in the kitchen…
this is what happened to his wallet. KB is a 25… ish year old Youtuber, presenting
to the emergency room – which was a huge financial mistake. This video was brought to you by CuriosityStream. My original plan for this video was to take
that scenario through multiple different healthcare paths to show you all the options and costs. I very quickly realized that wasn’t going
to work. Even if I had done that, those numbers would
have been completely meaningless to you because of how healthcare works in our country. It’s not like ordering a Big Mac. The numbers I would’ve given you would only
apply to other 25-ish year old men living in [HARM TO ONGOING MATTER], it’s very unlikely
that it would be relevant to you. So there’s really no point in digging up
those numbers. Especially since the cost of a procedure not
only varies widely within the same city, but sometimes on the same block. A few stitches can cost anywhere from $200
to $3000. I picked stitches because it’s pretty universal,
there is no gender, or race, or even class, that is more prone to needing stitches. I’ve personally needed stitches at least
five times that I can remember. The obvious explanation for that wide range
is where on the body were you injured? Stitches on your shin are going to be easier
and cheaper than stitches on your eye. Except… no, some people pay less for eye
stitches. And these price ranges exist across the board
for all procedures, if you walk into a medical facility with a burst appendix, it’s going
to cost you anywhere from $1500 to $180,000. I somehow doubt that one appendectomy could
be 120 times better than another. Some cases are complicated and require extra
imaging or post-operative care, the point is, you don’t know that beforehand. When you get the bill, it could be anywhere
in this range. So rather than just shouting numbers at you
and laughing about how ridiculous things can cost, I want to explain why that range exists. Many of you likely know parts of the answer
already. The most obvious being that urgent care is
almost always cheaper than emergency care. Both with and without insurance. Urgent cares are a relatively new concept
in the US and provide a cheaper alternative for non-life-threatening emergencies. Like stitches. Let me be clear, when in doubt, go to the
emergency room, you will never be turned away, but if you walk into an urgent care with something
more serious, they might send you to the ER, possibly delaying lifesaving treatment. But odds are that if you only need four stitches,
it probably isn’t going to kill you any time soon. Emergency rooms cost so much more because
of the infrastructure and overhead required to keep a large hospital running. But also because of more nefarious reasons. 70% of hospitals in the United States are
privately operated but not run for profit, which is surprising to most Americans. Insurance companies, on the other hand, are
only run for profit. So in order to attract more customers, insurance
companies have to offer better deals. Which is somewhat difficult when a hospital
is non-for-profit. Usually, if you’re not making a profit,
it means your prices are already as low as they can be. Enter the hospital chargemaster. That’s not a chargemaster. Pretend. Every hospital in America has a list of prices
for every good and service they provide, which until this year, was kept hidden from the
public. Which is a huge problem in a capitalist system. You can’t really make an informed economic
decision if there is no price transparency or easy way to compare different costs. Not that you would ever shop around during
an emergency anyway. So the insurance companies went to the hospitals
– Side note, in some cases, the insurance companies own the hospital outright, and while
the hospital is a non-profit… they aren’t. – and said “hey, you’re currently charging
your customers $200 for this service, why don’t you increase your chargemaster price
to $250, but still only charge our customers $200, that way we can tell them we’re getting
them a discount.” This should sound familiar to anyone who has
ever shopped on Black Friday. Repeat that for every procedure or medication,
nationwide, and you have the first piece of the puzzle. When figuring out the cost of healthcare in
the US, you have to look at multiple variables, we’ll add to this list as we go, but we
can start with the base cost. The price of materials, labor, facilities,
and sometimes including those blue light chargemaster rollbacks. As we’ve seen, this base cost can range
from three to six digits depending on where you go. Which is the second variable – location. Not only are we talking about state or city,
but street. Add in provider type – are you going to
an emergency room, urgent care, or just your doctor – and you have even more variation. Since we’re only five minutes in, you probably
figured out that this list isn’t even close to complete. An unfortunate reality of our system is that
it also matters who you are. The Affordable Care Act made it illegal for
hospitals and insurance companies to charge you differently based on your previous medical
history, but they can still charge you differently for basically any other reason – including
gender and perhaps most obviously, your age. For example, stitches on an infant are objectively
more difficult and therefore more expensive. Bet that wasn’t the direction you expected
me to take the ageism argument. Procedures aside, age is one of the biggest
factors that contribute to the cost of health insurance. Alright non-Americans, get your laughs out
of the way now. [Laughs in Foreigner] Health insurance started
as a sort of membership program, known as Health Assurance, you paid a fixed amount
every month and any medical costs you incur were on them. Your health was assured. It didn’t take them very long to figure
out the formula for success. Obvious abuses aside, that simple just model
wasn’t sustainable. So over time, they have shifted more of the
cost of actually using medical services onto the consumer, called it Insurance, and made
the system so complicated that most Americans don’t even bother trying to understand it. Lucky for you… I’m not doing anything, I’ve got time. The health insurance industry didn’t really
take off until World War 2, along with rationing fuel and rubber, prices and wages were also
fixed by the government. So companies had to get creative to attract
talent. The most popular way was to offer benefits
on top of your salary, like paid vacation, housing, or health insurance. Today, 60% of Americans get their health insurance
through their employer. This is thanks, in part to ObamaCare, officially
known as the Affordable Care Act or ACA, which made it so that any company with at least
50 employees has to offer health insurance. Though “offer” is a bit of a loose term. Which is yet another factor – how much your
employer offers to contribute. Your insurance premium might be $500 a month,
but your employer might only pay half of it… or none of it. In order to discuss how insurance actually
works, let’s take a look at something a little more simple – car insurance. In most states, if you own a car, you are
also required to have car insurance. The more people who are paying into insurance,
the lower the cost for everyone – most people accept this reality when it comes to car insurance. But not health insurance, for some reason. The Affordable Care Act did a lot of good
things, like mostly getting rid of pre-existing conditions, allowing you to remain on your
parents’ insurance until you’re 26, and a bunch of other stuff we’ll get to later. But it also required everyone to have health
insurance, through the Individual Mandate. The hope being that the more people who have
insurance, the cheaper it will be for everyone, just like car insurance. But the mandate was just repealed so, never
mind, I guess. Everyone with insurance pays a premium, this
is like your membership fee and you pay this regardless of whether or not you actually
use it. If your premium is $100 a month and you never
get into an accident, that $1200 a year is simply gone. Because of this, a lot of people think of
insurance as a bit of a scam – If I didn’t use it, I should get it back or something. This is what I’m going to call Stage Zero
– you pay your premiums, you don’t use it, and nothing happens. Rinse and repeat, every year. There are two tiers of car insurance, the
lowest being Liability, which only pays out if you are at fault in an accident, and Comprehensive,
which pays for any damage to your vehicle, whether it be a collision or an act of god. But once you actually have an accident, you
enter Stage One, when you pay all costs out of pocket until you reach your deductible. This is the amount you have to pay before
your insurance will contribute. For many car insurance plans, the deductible
is also your maximum out of pocket – or MOOP. Who the hell is Moop? It’s the most you will pay to fix your car
in a given year. After which, you enter Stage Two, when your
insurance pays all remaining costs. Sometimes, there is a maximum annual or lifetime
benefit, after which you would be on the hook for any remaining costs, but that’s fairly
rare. So if you get into an accident that costs
$15,000, you would only pay up to your deductible, say five hundred dollars, and your insurance
company would cover the rest. Congratulations, having car insurance probably
saved you thousands of dollars. But when it comes to health insurance, most
people only focus on the cost, if they never go to the doctor they’re just throwing away
money every month. This is important, so pay attention. Not having insurance is only cheaper, if you
know that healthcare costs without insurance will be less than your annual premium and
your deductible put together. Remember, without insurance, you will be paying
regular chargemaster prices. Some hospitals might be willing to work with
you and give you the “discount” price if you’re uninsured, but you can never count
on that. For our car insurance example, that tipping
point would be $1700. If you know that your car repair costs are
going to be less than $1700, it’s cheaper to just go without insurance. But you literally can’t know that. You can’t predict if some if some random
tire is going to hit you. Just as you can’t predict if you’re going
to cut yourself or your appendix is going to burst. So let’s say you’re playing it safe, you
have health insurance, and something unpredictable happens… Just like car insurance, you started in Stage
Zero. You’ve been paying your premiums and have
been relatively healthy until now. You go to the hospital and you enter Stage
One, you are paying everything out of pocket up to your deductible, so far everything is
pretty simple. But Stage Two is where things become a bit
more complicated – this is when you and the insurance company split the costs of your
care, through two mechanisms. A copay is a flat fee, like $25 every time
you go to the doctor. That’s just to walk in the door, by the
way, if they do anything more than that, it costs extra. Usually through coinsurance, which is a percentage
rather than a flat fee, so for example, 20% of all outpatient procedures. Only copays and coinsurance count towards
your MOOP, premiums, prescriptions, and out of network costs, do not. Once you hit your maximum, you enter Stage
Three – when your insurance company covers all remaining costs. The Affordable Care Act prohibits any maximum
annual benefit or lifetime limits for health insurance, though they can still exist for
dental and other insurance types. So Stage Three has no maximum dollar amount,
but your MOOP is annual limit that resets each year. This is the next variable we’re going to
add to our list – When the healthcare cost occurs. If your appendix bursts with only one month
left to go in the year and you hit your maximum out of pocket, if you still need continuing
care the next month – which is also technically the next year – you will have to pay your
maximum out of pocket again. Effectively doubling the cost of this single
event even with insurance. There are many different types of health insurance
programs, all of which cost different amounts based on what kind of care you want. Or more likely, what your employer chose for
you. The cheapest type is an HMO or Health Maintenance
Organization which operates through smaller networks of providers. Another very important term and concept. Doctors and hospitals sign agreements with
insurance companies to be part of their network and see their patients, sometimes at a reduced
rate, as I mentioned earlier. If you’re on that insurance, you can only
see those doctors and hospitals. If the doctor or the insurance company decide
they don’t want to work together anymore – you don’t get a say. If you like your doctor, or health plan, you
can keep your doctor. He couldn’t legally mandate that your doctor
and insurance company continue to work together forever – this is America. So now your doctor is out-of-network. If you see an out-of-network doctor, you will
very likely be on the hook for the entire, non-discounted bill. And you might not know it until afterwards. It’s not uncommon to go to an in-network
hospital and be seen by a prohibitively expensive out-of-network specialist at that hospital. HMOs typically have lower premiums up front,
but higher out of pocket expenses later. Everything is routed through your Primary
Care Provider, they make decisions about your health and you can’t see a specialist without
a referral or pre-authorization from your insurance company. That doctor acts as a gatekeeper for your
healthcare… which would make the insurance company the keymaster? The other end of the spectrum is a PPO or
Preferred Provider Organization, where you don’t have a primary care provider deciding
on what specialists you see or what care you receive. The premiums are higher but the out of pocket
expenses are lower. They typically have a larger network than
HMOs and out of network care is significantly cheaper, you don’t need a referral or pre-authorization. So it costs more to have more control and
more choice in your healthcare. That’s how capitalism works right? More choices and competition leads to higher-
wait… And then you have all sorts of programs in
between. Like the Exclusive Provider or EPO, which
is similar to a PPO, but out of network costs more and you might need pre-authorization
to see a specialist. Then there’s Point of Service, which is
like an HMO but out of network costs less and nobody abbreviates it. It’s a mess and even the definitions I just
gave you vary from company to company and state to state. But in general, those are your options, yet
another variable to add to the list. But wouldn’t it be great if we could just
cut out the middleman and pay for our own health care? Yeah, or you could- Shut up this is America. Some people have the option of getting a High
Deductible Health Plan or HDHP, which have extremely low premiums and extremely high
out of pocket costs. But it unlocks the ability to create a Health
Savings Account. An HSA is very similar to an IRA retirement
account, any money you pay into it is tax free and as long as you only use it to pay
for your insane healthcare costs, it doesn’t get taxed on the back end either. But wait, it gets better. Just like an IRA, you can invest your HSA
money, growing it potentially infinitely… which you also don’t have to pay taxes on. This is why they call them triple tax shelters. If you’re like me, you’re already googling
how you can open one of these up, and I’ve got some bad news for you. You can only open an HSA if you have an HDHP. If you’re on any other form of health insurance,
or even no insurance, this option is not available to you. And unless you’re perfectly healthy, that’s
probably a good thing. The astute amongst you will have noticed that
I haven’t given you any numbers for these programs… and there’s a reason for that. Not all HMOs and PPOs are created equal. Another good thing the Affordable Care Act
did was to establish a standardized tier system for health insurance, so people looking on
the marketplace can actually price compare and shop around. The absolute lowest level is called Catastrophic
insurance, these are typically your HDHPs, gamblers who are saving up their money and
hoping they never get sick or end up in a car accident. That’s about the only thing these plans
cover – emergency services. In America, all health insurance plans, regardless
of type or tier, cover emergency services in- or out-of-network. Though once you’re stable you better leave
that out-of-network hospital or the bill will give you a heart attack. Which just repeats the cycle. Catastrophic plans are like only having liability
insurance on your car, it really only helps you in the worst of situations, otherwise
you’re on your own. You also have to be under 30 to get it, which
means it doesn’t apply to me anymore so- I mean, it does apply to me for the next five
years. The four main tiers of the Affordable Care
Act are bronze, silver, gold, and platinum. The better the metal, the more you pay in
monthly premiums, but also, the lower your out of pocket costs when you actually receive
care. The ACA defines these tiers by the average
coinsurance for the plan, they call this the actuarial value. For Bronze, the actuarial value is 60%, they
pay an average of 60%, and you pay 40% in coinsurance. In Platinum, you pay 10% and they pay 90%. Again, this is the average, for some services
it might be 92% while others might be 85%. At the end of the year you might find that
you actually paid 11%. The actuarial value is the only definition
for the tiers – premiums, deductibles, and MOOPs can be all over the place. There’s really no way for me to compare
a Platinum HMO to a Silver PPO or a Bronze POS. Making this another determining factor in
your overall healthcare costs. But for the sake of an example, let’s just
pick one: gold. The average monthly premium for a gold-tier
plan is $597 a month for an individual and $1252 for a family. The beauty of family plans is that it usually
costs the same whether its two people or seven. If you’re getting a gold plan through your
employer, they might be paying for some of it. If you got it through the health insurance
marketplace, healthcare.gov, you might be getting subsidies to help. But for our purposes we’re just going to
stick to the base cost. So, let’s say you need those $3000 stitches. An individual gold-plan deductible can range
from $1000 to $5000, but the average is $1320. Remember, you pay that much before insurance
even kicks in. The remaining cost is shared between you and
the insurance company at a 20-80 split, only costing you an additional $336. The average individual gold plan MOOP is $5878,
so we’re not even coming close to stage three. In the end, those $3000 stitches cost only
$1656, just over half, wow, it’s a good thing you had insurance… You forgot ab-
Son of- yeah, as most people do, I forgot about the premiums. On top of the stitches, you paid $7164 in
premiums, bringing your total health care costs for the year to $8820. Here’s the same scenario for the average
gold family plan. As I’ve said, it’s impossible to know
whether an uninsured person with the same $3000 injury would fair better financially… But it is possible. And while the person writing the $1600 check
while paying monthly premiums is going to feel a lot more financially secure than the
person cutting $3000… The economic realities of healthcare costs
in America don’t care about your feelings. Now, I picked gold as an example because it
has an actuarial value of 80%. Which is the exact same as Medicare. Medicare is a socialized health insurance
program that covers 59.9 million Americans, most of which are over the age of 65. It is the largest single provider of health
insurance in America. I briefly covered Medicare and how it’s
funded in my video on welfare, along with another program for poor people called Medicaid. Medicaid is run at the state-level. So while it covers 74 million people, they’re
spread across 54 different state and territory programs that all set their own requirements
and pay outs. A single person in Alabama must make less
than $771 a month to qualify for Medicaid. The average panhandler makes $25 a day begging
for money on the corner – if they’re out there every day this month… Maybe take Halloween off, is all I’m trying
to say. Medicaid benefits depend on your income level,
at the lowest you’re paying single digit copays and at the highest, 20% coinsurance. Just like Medicare. But while Medicaid is a complicated welfare
program, Medicare is not. It’s government-subsidized health insurance. Every American who works pays into it with
a 1.45% FICA tax, which is also matched by your employer. If you contribute for ten years, you get full
Medicare when you turn 65. Medicare is not free, it’s also not simple
– but since it currently covers 20% of all Americans and presumably will cover all of
us once we’re old enough, it’s worth looking into. I need to start by saying that this is just
an overview. Most of my audience is several decades away
from Medicare, so if you’re currently in the process of enrolling, please speak to
a professional, this is just an introduction. There are entire channels dedicated to explaining
Medicare – we’re just going to scratch the surface. Medicare has four parts. Part A is for inpatient services like overnight
stays at a hospital. For the vast majority of people, there are
no premiums for Part A. But there is a $1364 deductible and a complicated copay and coinsurance
table. Medicare Part B is for outpatient services
like regular doctor visits. This does have a monthly premium for most
people, but before I tell you what it is, remember that you’re getting an actuarial
value of 80%. $135.50 a month – regardless of who you
are. But we’ve learned that low premiums usually
equate to a high deductible so- $185 deductible. So because stitches are usually an outpatient
procedure, we can figure out that those $3000 stitches would cost you $748 out of pocket. And $2374 a year in total expenses. There are no family plans in Medicare, it’s
just for the individual retiree, and these are by far the cheapest stitches we’ve come
across so far. But there is a catch. Medicare Part A and Part B, collectively referred
to as Original Medicare, have no maximum out of pocket limit. You pay the same 20% coinsurance to infinity
and beyond. Which is why we need to talk about Medicare
Supplement Plans, also known as Medigap plans. These add a MOOP, as well as reducing your
coinsurance. This is an addon run by a private insurance
company that doesn’t get to decide what or how much they cover, that’s dictated
by Medicare. They do get to decide what to charge you though. Alternatively, you can scrap Original Medicare
altogether and opt for Part C – better known as Medicare Advantage. This is a private insurance plan that takes
the place of Parts A and B (and sometimes D) and acts as its own supplement, so you
get a MOOP. You pay your premiums to them, rather than
Medicare. Now the insurance company gets to make decisions
about your healthcare, instead of the government. And it is required to give you that same 80%
actuarial value… in theory. In practice, the HHS Inspector General recently
found that 56% of people on Medicare Advantage were denied necessary treatment simply for
monetary gain. I know, right? I was just as shocked as you. About 36% of people eligible for Medicare
opt for Medicare Advantage, so when you hear someone complaining about Medicare… There’s a decent chance they’re not actually
on Medicare. And I’ll give you one guess as to which
Part ends up with the most waste, fraud, and abuse… It’s actually Part D, which is your optional
prescription drug coverage – but before you get mad at me for the bait and switch,
both C and D are run by private insurance companies. I’m not kidding, Part C and D waste, fraud,
and abuse is rampant, you can find the powerpoint presentations from HHS online. The problem is that when the news tells you
about Medicare waste, they usually leave out which Parts are causing that. And when they talk about healthcare statistics,
they neglect to mention that a third of the people are actually on private insurance. The 59.9 million number I cited earlier is
Original Medicare and Medicare Advantage put together. There are 44 million people on just Original
Medicare. And 90% of them don’t use Medicare exclusively,
they get a Medigap supplement plan or a Part D Prescription plan, or both. Prescriptions aren’t usually covered by
health insurance. Even in countries with universal socialized
medicine, dental, vision, and prescriptions are usually separate. And prescriptions drugs are even more of a
mess than healthcare. Each Part D plan has a list of prescriptions
they cover called a Formulary, you’ll need to look over that list when choosing your
plan. I hope you accurately predicted what medicines
you’ll need in the future. Americans pay the absolute highest prices
in the world for medications, sometimes by an order of magnitude, and the main reason
is somewhat counterintuitive. The UK has a single payer system known as
the National Health Service or NHS, every British citizen is covered for almost no out
of pocket cost. A total of 66 million people. The government negotiates prices with drug
companies, knowing that they will be the only supplier of that medication to 66 million
people. So they get a pretty good deal. There is no equivalent in the US, the government
doesn’t negotiate or even really regulate prices – the best we have is Medicare with
44 million people. And there’s a reason they pay the least. Counter to the common capitalist perception
that competition and choice drive down prices – at least when it comes to healthcare – market
share seems to have much more influence. The more people you are negotiating on behalf
of, the lower your prices. But also, it costs a lot of money to develop
treatments and medications, so most companies want to make the largest return on investment
as they can. But when you’re selling to the UK and Germany
for such low prices, where are you going to make your money? The country that isn’t negotiating on behalf
of 320 million people and has little to no regulation regarding price ceilings. Why do they charge so much? Because they can. The common argument against adopting a system
like the UK is that they are incredibly overtaxed. So let’s get our calculators back out and
check. The median household income in the United
States is $59,039, assuming just the standard deductions for a single person, you would
be paying $10,804 in federal taxes – both income and FICA. I have a video all about income taxes if you
want to know the actual math behind that. If you took that same income and went to the
UK, after converting to pounds and then back again, you are paying $14,451 in national
taxes. This includes your income tax and the National
Insurance tax, which is like our Medicare tax but, significantly larger. Side by side, if you make the median household
income in the US, you are paying 18.3% in federal taxes, if you took that to the UK,
you’d be paying 24.5%… but remember, healthcare is included. If you want healthcare in the US, the average
annual employer-based premium across all types and levels for an individual is $6896 a year. So in reality, you’re paying 30% of your
income in taxes and health insurance – and that’s not even considering what happens
if you actually get sick. In the interest of being thorough, if you
double the median income to $118,078 and were married with two kids – you would be paying
significantly more taxes in the UK. However, your healthcare expenses don’t
really change, whereas the average employer-based health insurance premium for a family is over
triple that of an individual. So a US family is still paying more in taxes
and healthcare – even if they never go to the doctor. The UK does have a Value-Added Tax, or VAT,
of 20%. But their cost of living is about 7% lower,
so once you consider sales tax in the US, prices are pretty comparable. A Samsung Galaxy S10 costs about $15 more
in London than New York. And a Big Mac is a dollar fifty cheaper. The quality of these products are pretty much
the same wherever you go, but for some reason, we insist that US healthcare is the exception. That has to be the last variable on our list,
American stitches are just inherently better than UK stitches. No, most people already know this, but the
UK, Canada, Australia, and most other industrialized countries beat us in just about every healthcare
metric. Life expectancy, infant mortality, maternal
mortality, the list goes on. But generally, these numbers are close enough
that you can say that the US is basically on par with everyone else. But per capita, we’re paying double what
they are. Objectively, the UK does have longer wait
times, from a few more minutes in the ER to a week or two for a specialist. But I want to challenge your assumptions here. If waiting a little longer drastically reduces
cost, but doesn’t negatively impact healthcare outcomes… How important is it to be seen right now? Can you zoom in and say the US is better in
a specific field like heart transplants or post-op complications? Sure, but overall, we’re not getting what
we’re paying for. Which is why we’ve been arguing about how
to change this system since forever. But we might actually do it this time. I’m obviously not going to talk about all
of the proposals, because you’ll never hear from most of these people ever again. So let’s just focus on two. Mayor Pete is proposing a Medicare opt-in
plan or “Medicare for all who want it.” This is just a reskin of the classic “Public
Option.” This would open up Medicare to anyone, if
you’re uninsured, you’re automatically on it, if you get health insurance through
your employer, you can switch, but otherwise nothing changes. Unless your employer wants to switch to Medicare,
in which case you don’t have a choice. It would also make a few smaller changes like
adding a Medicare MOOP and capping out-of-network costs. Most people wouldn’t see any changes to
their healthcare. Which isn’t very exciting, so let’s talk
about the plan you all want me to – the Medicare for All proposal from Kristen Gillibrand. She’s not even running anymore. You won’t let me just have- Fine, let’s
talk about Bernie Sanders. Bernie’s Medicare for All plan would basically
turn our healthcare system into the UK’s, with a single payer government health service. But with dental, vision, and prescriptions
included. Like the UK, there would be no premiums and
little to no out of pocket expenses. It also abolishes private insurance. No more employer-based health plans, no healthcare
marketplace, no deductibles, no premiums, no channels completely dedicated to demystifying
Medicare. You and your doctor will make decisions about
your healthcare, not a private corporation. Instead, the government would be the third-party
payer. How they would pay for this is always a point
of contention and oftentimes the question is intentionally worded poorly. How much are your taxes going to go up? And you said… How much are your costs going to go down? No, different question, how much will your
taxes go up? No, it’s how much are your costs, because
it’s- This sounds like a dodge because she’s trying
to reframe the question. Taxes will go up, primarily for the wealthy,
but likely the middle class as well. But remember, even if your taxes went up by
50%, the fact that this expense no longer exists means you are still better off – and
you won’t pay much more, if at all, when you need medical care. This would also reduce the overall bloat in
our system that contributes to the high cost. Your HR person has to pick a health plan,
hospitals and doctors need to hire special billing coders, the insurance company needs
claims specialists, and youtubers need to make videos explaining it all. I’m positive we can do better than this. But if you insist on keeping your healthcare
expenses unnecessarily high, even under the proposed Medicare for All, might I suggest
getting into vitamins and supplements? An industry you can learn all about by going
to curiositystream.com/knowingbetter. CuriosityStream is a subscription streaming
service that offers over 2400 documentaries and nonfiction titles from some of the world’s
best filmmakers that you can access across multiple platforms. Learn all about vitamins and the industry
that sprung up around them in this documentary hosted by fellow youtuber, Veritasium. Even though I know most of us don’t really
need to take vitamins, I can’t seem to help myself. You can get access to their entire library
for as little as 2.99 a month, but if you head over to curiositystream.com/knowingbetter
and use the promo code knowingbetter, you can have the advantage of getting your first
month completely free. As well as getting access to Nebula, the new
streaming service put together by youtube creators to have a space to create videos
without worrying about algorithms and demonetization. My channel, as well as many of your other
favorites, can be found there, including several original series. By joining CuriosityStream and Nebula, you’ll
also be supporting the channel. Full disclosure, I have no horse in this race. I am a service-connected, disabled combat
veteran, I get my healthcare through the Veteran’s Affairs hospital – which isn’t a health
insurance program. It’s a self-contained system and a bottomless
well of asterisks. So I’m not complaining about the system
and talking about proposals for change for my personal benefit. I also had no reason to give myself all that
math homework. It took me a month of daily research to figure
all of this out and present it to you and that alone should tell you this is overly
complicated. Luckily, I don’t do anything else with my
time. So now, as you’re watching debates about
taxes and reading news articles about rising premiums, you’ll actually understand what
they’re talking about, because now, you know better. If you hadn’t noticed, I made some improvements
to the set, so if you’d like to add your name to the chargemaster, head on over to
patreon.com/knowingbetter, or for a one-time donation, paypal.me/knowingbetter. Don’t forget to copay that subscribe button,
check out the merch at knowingbetter.tv, follow me on Twitter and Facebook, and join us on
the subreddit.

Who Is Elizabeth Warren? | 2020 Democratic Candidate

An economic populist — “I’m not in Washington to
work for billionaires.” — known for taking on big banks. “Break up
these giant banks.” And for being
a bit of a policy wonk. “I’m a data nerd.” Massachusetts Senator
Elizabeth Warren is running for president. “I am a candidate
for president of the United States
of America.” So, who is she? Warren grew up in Oklahoma, the daughter of a janitor. She later became a law
professor at Harvard. She got into politics
in 2012, when she was elected
the first female senator from Massachusetts. “We’re going to hold the
big guys accountable.” She won on a message
demanding strict regulations on Wall Street. Once she got to Washington, she earned a reputation
for being tough on banks. “Wells Fargo cheated
millions of people. At best, you were incompetent. At worst, you were complicit. And either way,
you should be fired.” And she helped set up the Consumer Financial
Protection Bureau under President Obama. “Elizabeth was
sounding the alarm on predatory lending and the financial pressures
on middle-class families.” So, what’s Warren
campaigning on? She’s been using her
passion for policy as a way to stand out in a
crowded 2020 field. Some of her top priorities: Income inequality, taxing the wealthiest
Americans and reining in
big tech companies. “It is time to break up
America’s tech giants.” So, how has she taken
on President Trump? Warren has called him a: “small, insecure money grubber.” And his administration: ”the most corrupt
in living memory.” Trump has relentlessly
mocked Warren over her claim of Native American ancestry. “Pocahontas, right? They call her Pocahontas. I’ve got more
Indian blood in me than Pocahontas,
and I have none.” She took a DNA test to
try to prove her heritage. It didn’t go over well. “Tonight, the leaders
of the Cherokee Nation are speaking out against
Senator Elizabeth Warren’s campaign video.” Warren later apologized
to the Cherokee Nation. “I told Chief Baker
that I am sorry.” So, what are her chances? Although she got
an early start, she’s polling
in the single digits. And while she initially
struggled with fundraising, those numbers have improved. Warren says she is not
accepting big donations, instead, relying only on
grassroots contributions. “And I’m not out sucking up
to a bunch of billionaires hoping that they’re going
to run a super PAC for me.” It’s a risk her campaign
hopes pays off in 2020.