The title is not hyperbole. The effects of the Republican tax cut scam is quantifiable, and many have done their diligent research including Larry Summers. It is imperative that Americans activate now to ensure this bill does not see the light of day.
Economist Larry Summers, Treasury secretary under Bill Clinton and White House economic advisor under Barack Obama penned an op-ed in the Washington Post and appeared on CNBC where he articulated the real damage the GOP tax cut scam will cause the country.
Larry Summers on the Republican tax cut scam
— Egberto Willies (@EgbertoWillies) December 4, 2017
In his op-ed titled "Lawrence Summers: Yes, the Senate GOP tax plan would cause ‘thousands’ to die" Summers first responds to those who believe his comments about the tax cut scam killing Americans was hyperbole.
In reaching my judgment, I relied primarily on work by Kate Baicker, a former colleague now serving as dean of the University of Chicago’s Harris School of Public Policy. Kate served on the Council of Economic Advisers during a Republican administration, so I felt that any political bias would operate against the conclusions I drew.
He explained her tenets and then pointed out the following.
The Congressional Budget Office estimated that the tax bill could reduce insurance coverage by 13 million people, which to be conservative we can round down to 10 million people. Recognizing all the uncertainties — for example, the fact that the group becoming uninsured as a result of the individual mandate repeal probably is healthier than the group Sommers et al. (2014) studied in Massachusetts — if we treat the 176 to 830 range as implying that it is safe to assume that 1,000 more uninsured means one death, the conclusion would follow that the tax bill would result in 10,000 extra deaths per year.
Summers implies that his prediction is on the conservative side.
So, my current judgment is that if anything, my claim that over an unspecified horizon “thousands would die” takes too serene a view of the health consequences of the tax bill.
That Republican policy kills is nothing new. The problem is many fail to articulate it in the graphic terms one should. To be clear, if your plan kills, it is avoidable, and you know it, you are committing murder.
Also published on Medium.