Quote:
Originally Posted by whogo
The only real problem is health care costs and neither party is willing to do what it takes to get that under control.
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That's because it's a State issue and not a federal issue.
The Supreme Court has repeated ruled for more than a century that medical care and insurance are intra-State commerce and Congress has no authority.
The States enacted laws enabling hospitals to operate as monopolies under the guise that the free healthcare provided to low-income patients outweighs the negative economic consequences of monopolies.
Only the States can repeal those laws.
Unless and until the States repeal those laws, then pursue anti-trust actions against hospital monopolies, you will always pay more than the rest of the world, regardless of the system you use.
It is the high cost of medical care that causes insurance to cost more.
If you want cheaper insurance, then you must lower the cost of medical care.
Quote:
Originally Posted by lovecrowds
To keep the current programs solvent there will have to be huge tax increases, yet they keep offering more goodies for votes.
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That's false propaganda and disinformation.
The FICA Payroll Tax only needs to be increased 1.8%-2.2%.
The Silent Generation suffered a 520% increase in FICA taxes to make sure Social Security will be there for them.
That is a huge tax increase.
The Boomers endured a 72% FICA payroll tax increase to make sure Social Security will be there for them. That is a large increase, not a huge increase.
If Generations X, Y and Z can't handle a 35.5% maximum increase to make Social Security is there for them, then might I suggest 100 feet of 5/16" cotton braided cord or Gillette Silver Blues.
Quote:
Originally Posted by lovecrowds
I have read about all the unfunded liabilities for Social Security liabilities, Medicare liabilities, state and local pension liabilities and it certainly seems like alot of promises have been made that there isn't an adaquate revenue stream for.
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You haven't read anything.
Social Security and Medicare operate on the same principal using basic 6th Grade Math:
Revenues = # of Workers * Tax Rate * Wages
We know from our 6th Grade Math that if we increase any multiplier, then the product increases and if we decrease any multiplier, the product decreases.
Increasing Wages will not solve Social Security's problem, since benefits are based on Wages. Increase Wages and you simultaneously increase benefits.
Increasing Wages will only work if you also cut Social Security benefits by at least 15%.
Increasing the # of Workers is impossible.
You're short 11 Million workers.
If the 5.5 Million currently unemployed workers all had jobs by 8:00 AM tomorrow, and your military invaded and bombed foreign countries, kidnapped 5.5 Million people, brought them back to the US and got jobs for them by 8:00 AM tomorrow, and your Unemployment Rate was 0% for the next 100 years, then your problem is solved.
Seeing how you'd have to spend $TRILLIONS to invade foreign countries, it would just be easier to raise the FICA tax rate 1.8%-2.2%.
The would be the last tax increase ever needed and it would be funded for the next 200 years.
Why?
Because when Social Security started in 1940 there were 159.4 workers for each beneficiary.
Now you only have 2.8 workers for each beneficiary. That will drop to 2.2:1 to 2.0:1 but the good news is it will be that way for the next 100-200 years.
Medicare is different, because medical technology is inherently expensive, since there is no Economy of Scale.
There are no assembly lines around the World mass-producing parts for MRIs and CAT scanners or mass-producing MRI machines or CAT scanners.
They are made to order, like a Bentley, or the components for your electrical grid, and they're very expensive because of that.
Government and union pension plans are all Ponzi-schemes. The only way to fix them is have a forensic accountant analyze them, then file legal action for a judge to rescind or modify the plan so that it is no longer a Ponzi-scheme.
Quote:
Originally Posted by craigiri
As a financial guru, ...
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No one takes you seriously.
Quote:
Originally Posted by craigiri
If one was able to understand numbers, they might look at this Big Picture and understand why money from all over the world heads this way:
"The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP) as of Q1 2014."
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That is not why and I certainly hope you're not suggesting the US will put the White House and the Capitol Building up for sale, or any of the federal parks or federal lands.
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