David Sirota is a Guardian US columnist and Jacobin editor at large who served as Bernie Sanders’ presidential campaign speechwriter.
He’s also the bloke who praised Chavez and Maduro as doing pretty well.
And it’s Mr. Sirota who tells us this:
Moreover, corporate health insurance has far higher administrative costs than single-payer programs like Medicare, and even the much-vaunted Affordable Care Act allows insurers to siphon up to 20% of customers’ premiums to corporate profits rather than actual medical care.
No, It allows up to 20% to go to corporate costs. Of, you know, running the company? 80% must be spent on actual medical care. And if someone who wants to tell us about the economy doesn’t know the difference between revenue and profit then we can ignore everything else he says, can’t we?