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Or look at Canada, where physicians make a comparable amount (they have far lower taxes due to the way their businesses are structured).
It can be done well, not that I trust our government to pull it off at all. We have a government that can’t even remain open. A Medicare system that still legally cannot negotiate drug prices. In the face of this people think Medicare for all is the solution. Amazing.
The state currently provides healthcare to 40% of Americans right now. Why are people acting like this isn’t already the case?
And if healthcare is a “right”, why not housing? Why not water? Why not food? Should the government provide free food water and housing as well?
And what level of service constitutes healthcare? Is cosmetic breast surgery after mastectomy guaranteed? How many weeks of waiting is acceptable? Should older patients not be eligible for otherwise standard procedures like it is in the UK? Are Americans going to accept rationing of drugs like the UK does?
People tend to gloss over the many European countries with health systems that are not provided to everyone for free. Like Switzerland.
I frankly don’t see America embracing such a collectivist system (with the required rationing - yes, rationing - of care).
As much hype as there has been about taxing income > 10 million at 70% it wouldn’t generate much money. Few people make that much income. You would generate about 15B a year. For reference our defense budget is about 600B to 800B a year, and Medicare currently has a budget around 600B. 15B is a drop in the bucket. I’m not opposed to it, but I also think the fact the (far) left thinks this would somehow allow for any of their expansions of government benefits is truly scary. They simply don’t know what’s going on.
We agree Medicare should be able to negotiate drug prices -- why do you think that isn't the case now? Because of insurance lobbying. They spend hundreds of millions of dollars lobbying for this, why would they do this if they didn't expect a return on their money?
And yeah, I think a basic amount of housing, food, and water should also be a right. There are more unoccupied houses and apartments than there are homeless people in the US. There is no reason whatsoever that anybody in the wealthiest country on the planet should go hungry or without shelter. But these are separate issues that deserve their own discussions.
And I think 70% is far far too low. Personally, I'm in favor of something like a logarithmic tax rate. Get rid of all the complicated brackets and tax code and make it simple. Is your argument that since a 70% tax rate wouldn't generate enough money for whatever we are proposing we should just scrap it altogether? 70% is too generous already, in my opinion. Jeff Bezos has a 160 billion. Leave him with 1 billion and his quality of life would not be appreciably different and we just got 159 billion more to fund healthcare for the uninsured. Billionaires like Bill Gates and Warren Buffett have openly called for higher taxes.
I agree that the US is unlikely to embrace these ideas and the reason is because the ultra wealthy have spent a mind-boggling amount of money convincing the lower classes that it would be ineffective. Medicare For All, or whatever your favorite flavor of single-payer is, is not a radical idea. Medical bills are the number one reason for bankruptcy in the US -- we can prevent this, why not try?
The point of capitalism is voluntary and mutually beneficial exchanges based upon the subjective priorities of both parties, don’t strawman basic economics
There is nothing wrong with someone wanting to stockpile their money like smaug, light cigars with it or buy gold foil toilet paper.....it is their money
If income is to exist it should be a flat rate from the first dollar to the last for the general govt with no welfare (corporate or individual)
I am not strawmanning basic economics, that is literally how capitalism works as explained by Adam Smith. Wealth is not generated in a vacuum. How well would Amazon (or any other major enterprise) work if the US hadn't used taxes to create a massively useful infrastructure to allow its growth? Do you believe a police force or firefighters should be private and only available if you can personally pay for it? You de facto cannot have voluntary and mutually beneficial exchanges between a billionaire and a worker making 15$ an hour, the bargaining power is entirely in the hands of the wealthy. That is the entire point of having a robust labor politics -- can you guess why unions were neutered and dismantled throughout the 20th century? The funny thing is I think you would agree that hospitals should be run by doctors and not administrators and yet the ideals you are espousing directly contradict that notion.
If you seriously think a flat rate tax is a good idea you are being hopelessly idealistic. How is taxing a single mother making 20k a year at the same rate as a billionaire a remotely rational or compassionate perspective? Let me repeat it for emphasis, the money that billionaires in the US have was not created by them and instead was stolen (to use your language) from the workers who actually spent their time and labor generating it.
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