Comments by "James Adams" (@ExPwner) on "Actual Justice Warrior" channel.

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  8. Sean, here are some more to debunk. 1. The lie that Medicare for All would save money based on a deliberate misreading of the Mercatus study, which the author himself refuted. 2. The bogus notion that Medicare has lower administrative costs than private insurance, wherein they divide administrative costs by total spending instead of looking at per patient administrative costs. Mises has an article up on this going into why this is dishonest: Medicare is old people who have higher total spending which artificially lowers that percentage. Furthermore, they are not comparing apples to oranges because Medicare does not prevent fraud while private insurers do prevent fraud and that benefit is not captured. Lastly, they also leave out the administrative costs associated with collecting payment which is done through the IRS and SSA. 3. The myth of infant mortality being so much higher in the US. This is again apples to oranges. 4. The lie that healthcare quality in the US is low or bad compared to other countries when the criteria used literally includes “access” as a large driving factor of the methodology. It is infuriating that this is being conflated with quality. 5. The denying of reality of waiting lists and shortages as well as people dying from not receiving care in universal healthcare systems. 6. The lie that universal healthcare saves money as evidenced by the only honest metric: before and after within the SAME country. The UK for example did not lower its costs after introducing the NHS. Costs went up and not down. 7. The lie that Obamacare saved lives.
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  126.  @royalpayn4089  yes, I can say that it's a complete lie, and this is revealed by even reading his OWN sources. Go to his video on "self made billionaires" and read the story about the pizza shop. He tries to paint this as some proof that capitalism is evil and "stealing surplus value from workers" a phrase that he uses in nearly every video, yet the actual story wasn't even about the pizza owner giving profits to workers but the entirety of its sales and tips. I shouldn't have to belabor how dishonest this is since it isn't sustainable (a business cannot give all of its revenues to workers since there are nonlabor costs as well), but Second Thought uses this as if it is proof that workers should be paid more. Not only that, but this entire talking point rests on the utterly discredited labor theory of value which if you study literally ANY objections to it you'll find is completely false. That not enough for you? Go to his "billionaires pay less in taxes than you" video where he straight up just reads from the debunked ProPublica piece and treats gains in paper wealth as if they were income, then goes on some nonsense rant saying that they just endlessly borrow from their stocks and never sell (which has no evidence to support it and defies logic since loans have to be repaid with interest). Or you could go to his videos on Cuba where he tries to pretend like Cuba is a bastion of medical innovation. Kirk Wilcox has multiple videos debunking Second Thought, and one of which is on this topic itself.
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  205.  @richardunderwood9683  again, marginal revenue product is a conceptual thing, not a mathematically proven fact. Value is subjective. The employer values the labor more than the wage and the employee values the wage more than the labor, but there is no mathematical proof of employee output. What Marxists like Wolff do is automatically assume that the employer adds no value and then proceed as though all profits were generated by the employee with bad math. In reality, all inputs are valuable if the output is valuable and we're not doing unnecessary things. Take a simple example. Imagine that a business requires 1 million dollars in startup capital which is then spent on building/buying a facility ($250k), buying equipment ($300k), buying raw materials ($200k) and hiring workers ($250k). After a certain period of time (let's say a year for simplicity), all of the raw materials are used up, the labor is paid, and the facility and equipment depreciate to zero. Also at the end of that year of production, the final products are sold to an end consumer for $1.1 million. The owner profits $100k. Properly understood, this is not only a risk premium but also a financing cost. Interest. The input from the capitalist at the beginning of the year in the form of the million dollar investment is not worth $1 million in perpetuity. Instead, his gain comes from the value added by investing money and waiting for the return. Workers are paid every two weeks for their work, but the owner only gets paid when products sell. https://mises.org/library/bohm-bawerks-critique-exploitation-theory-interest
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