FORT MYERS, Fla., Oct. 26, 2018 /PRNewswire/ — This write- up is an accessible letter from Roy J. Meidinger, columnist of “The Truth About the Healthcare Industry.”
In adjustment to clean our accomplishment industry, actualize accomplishment jobs, accomplish greater profits, pay college salaries and accord advisers greater freedom, we charge change our healthcare industry and the way we pay for it.
The United States cannot attempt with added automated countries because our accomplishment costs of appurtenances is college than their affairs prices of agnate goods. Our accomplishment costs accept added year afterwards year during the accomplished three decades because our civic healthcare expenditures accept added during these aforementioned periods, while the all-embracing competitors accept maintained low healthcare expenditures. The acumen is they are on a single-payer healthcare arrangement while we are not. Our country’s civic healthcare expenditures are 18 percent of the GDP on bloom care, while added automated countries boilerplate about seven percent of gross calm product. Our manufacturers acquire the costs of bloom affliction into the bulk of bogus goods, while our all-embracing competitors do not.
In the United States, the majority of healthcare costs are paid by employers. Employer healthcare costs appear in two categories: absolute costs, the costs paid for the employees’ benefits, and aberrant costs, the bloom affliction costs included in articles or casework they acquirement from others; and Social Security costs. All appurtenances or casework that are activated accept congenital into its bulk absolute costs of bloom affliction for its advisers and aberrant costs.
All manufacturers charge advertise their articles at a bulk aloft their bulk break-even line. Any bulk incurred by a architect is apparent up a reasonable bulk to set the affairs price, awning taxes, awning artefact over-runs and accomplish a profit. For this discussion, I am activity to use a 40 percent markup.
Our country spends 18 percent of the GDP on bloom care. Back you mark up the 18 percent by an added 40 percent, the absolute bulk of absolute and aberrant bulk goes to about 25 percent.
Since 1982, the healthcare industry added its allotment of the GDP from seven percent to today’s 18 percent. Correspondingly, the manufacturing industry decreased its allotment of the GDP from 34 percent to 23 percent. As the accomplishment bordering costs became greater than the aggressive prices of agnate appurtenances due to added healthcare cost increases, the companies bankrupt and filed for bankruptcy. The Federal Trade Commission and the Department of Justice were behindhand in not acquainted the abuse one industry was accomplishing to addition industry. Our antitrust laws are not alone meant to assure us from one aggregation acceptable ascendant in one industry but additionally to assure addition industry from actuality damaged by a battling industry.
The aldermanic annex of our government got into the healthcare business in 1965 but bootless to ascendancy the costs spent on bloom care. There is an adage that states: Back the government goes into business, it never fails but passes on its losses to the bodies by accretion taxes. This is what happened with Medicare and Medicaid. There was an aboriginal admonishing assurance in 2006. The amounts listed on the beneficiaries’ bills was causing problems. The General Accounting Office was answerable with chargeless the costs for Medicare Allotment B hospital out-patient services. In its address to Congress, it acclaimed that if it would be accustomed to recompute the Medicare Allotment A hospital in-patient services, Medicare could save 72 percent for this program. This actuality was never acted on and absolutely ignored. Today, the could-save bulk would be afterpiece to 85 percent.
To accompany aback our accomplishment industry, actualize new companies and access assembly of bogus appurtenances for export, we charge lower our civic healthcare costs, which are now allotment of and paid beneath the manufacturers’ bulk break-even points, and move them aloft the bulk break-even point; we charge pay for bloom affliction out of profits. Not alone healthcare costs but all costs the employer pays associated with its employees, including Federal Allowance Contributions Act (FICA). Our all-embracing competitors accept already done this and their appurtenances are added competitively priced.
We can aftermath appurtenances at lower prices than our all-embracing competitors. It is a actuality that we still accept a aerial abundance rating due to the adjustment of automation, a acquiescent activity force, a actual able basement acknowledging businesses and low activity costs. We accept been advance in bigger technology and greater automation; our all-embracing competitors accept been advance in new technologies and automation. WE accept trillions of dollars cat-and-mouse and attractive for the advancing of a additional automated anarchy in the United States and a activation of our accomplishment dominance.
Lowering accumulated taxes is a account to absolute businesses, giving them a concise profit. But, blurred taxes does not lower the bulk of accomplishment because it alone affects the revenues aloft the bulk break-even line. The Congressional Budget Office has aloof revised the anticipation bottomward for the conception of new jobs because of the latest tax acquittance legislation and added the access to the civic debt from $11.5 billion to $13.5 billion for the aing 10 years.
When these recommendations are implemented, there will be abounding changes demography place, some acceptable and some bad. On the acceptable side, anybody will be covered for bloom care, bodies with above-mentioned altitude will be covered and bodies will accept their best of healthcare provider. Advisers with absolute illnesses or disabling abilities will be able to get jobs and authority on to them with their abilities to produce. The money allocated to the advisers for bloom affliction will be paid to them in the anatomy of college wages, about $10,000 per employee, additional FICA taxes. The bacon access will be the better recorded in our nation’s history while creating a huge customer accumulation even with money. The 1.7 actor claimed bankruptcies due to healthcare costs will be eliminated. The 25 percent of authoritative healthcare expenditures for announcement and accession will be eliminated. The civic healthcare bulk will be cut in bisected or lower. With accepted bloom care, all advisers will accept a abandon of best of area they assignment and not accept to anguish about alteration jobs with a accident of medical coverage. The state’s Medicaid expenditures will be alone and should anon be confused to account the bulk of chargeless college education, like every added automated country.
On the downside, the bad account is: Based on a allegory with the allowance companies’ advisers per capita of Canada, 250,000 sales jobs will be absent – there is no charge for salespeople; these sales jobs should calmly be confused to the accomplishment industry. Taxes paid for The Federal Allowance Contributions Act (FICA) will be added and a collapsed tax added to the accumulated and claimed assets rates. The absolute FICA tax is 15.3 percent. That allotment is activated to the employee’s gross pay. The employer and agent anniversary pay 7.65 percent. Here is the breakdown of these taxes:
The new bulk of the collapsed tax will accept to be bent by the General Accounting Office and should be added on all acceptable assets tax levels, which will ensure all bodies pay their fair bulk of taxes. The medical allocation should alone acceleration three percent to four percent, adopting anniversary addition to 10.65 percent to 11.65 percent. Included will be the government’s obligation to our aggressive veterans. The acceleration in the bulk calm for the new taxes will be far lower than anniversary person’s access of income.
Our accelerating claimed assets tax arrangement is fair. We apprehend assertive individuals will consistently accomplish added than others and accumulate best of it because it is a able motivator for success. We additionally apprehend that back added is accustomed to an alone beneath our capitalistic system, added has to be accustomed to the government for the aliment of the country, aliment of our capitalistic arrangement and the account of its citizens who accomplish it possible. When the alteration is finished, we charge acquiesce bazaar armament to balance all industries and accumulate government arrest to a minimum.
The country charge accomplish the changes advocated or we will be adverse banking ruin. Accomplishment creates wealth. Without a able accomplishment industry, we will become a third-world country, with our capital industry acceptable agriculture. The bulk of our aftermath will accumulate ascent because added affluent nations will be affairs our aftermath and will aerate our costs.
Every applicant for Congress, no amount what party, charge abutment these changes. Any applicant that does not abutment these changes should not be elected. This is a win-win bearings for anniversary party. It is our albatross to acquaint our assembly what we want. It is our albatross to accomplish abiding these changes are implemented.
Roy J. Meidinger14893 American Eagle Ct.Fort Myers, Fl. 33912Tel No. 954-790-9407
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SOURCE Roy J. Meidinger
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