Have you read the Medicare Math? Which category do you fall in?

Question

Here are the numbers:
1. According to Medicare's website, Medicare covers almost one seventh of the population.
2. To be able to do so, it requires 3% of the entire salaries, of every working person in the US.
3. To expand Medicare to cover everyone in the US, you take the rate (3%) and multiply by the 7 (to accomodate the other 6/7 of the population).
4. This means to fund Medicare for all, there needs to be a 21% tax added; a flat tax, the rich pays 3% now and will pay 21% later, so will the poor.

The result by category:
1. You're wealthy, you are going to pay more taxes.
2. You're middle class and currently have health insurance through your work: You just lost that option and pay more for lesser coverage
3. You're middle class and one of the 30 million people who wanted to risk not having coverage: U no longer get that choice.
4. You're one of the six million that couldn't afford health insurance. This plan helps U
5. You're on medicare now, you now pay 21%, not 3%

The above is what would happen if Clinton's Universal Health Care plan, which she promises to be an expansion of Medicare, is implemented.

"I question all your statistics. 3% of my income goes to medicare?"

I'm glad you asked that. Look on your pay stub. You will see a line item that combines Medicare and Medicaid. That line item is 3%, half of which goes to Medicare (1.5%). Your employer is required to match that, meaning that before you get your paycheck, 3% of your gross salary, goes to Medicare. Feel free to hit the medicare website, which will confirm what I just told you.

"nice breakdown RickyTbut the multiplier should be 6, not 7"

No. It is 3% for one seventh of the population. That makes 21% for the entire population, including the sevent that was previously covered. Although the math is correct, I probably should have phrased it better.

Regarding: "One thing you conveniently leave out. The money that your employer currently pays for YOUR healthcare would ..."

1. Do the math and compare your insurance cost to one fifth of your salary. I'm merely giving you the info to decide for yourself.

2. The above assumes no increase in government efficiency as the beauracracy gets 7 times larger. Take a look at the rest of government for examples.

3. Btw, the 3% doesn't fully fund medicare. It funds 54% of it.

Answer 1

If you are right, then holy crap get this on the news.

Answer 2

One thing you conveniently leave out. The money that your employer currently pays for YOUR healthcare would ...

1. stay in the employer's pocket, allowing him (according to conservative credo) to reinvest and grow the economy.

2. result in a large pay raise for YOU, larger than the tax increase you might pay.

3. cause a depression when the CEOs of healthcare companies no longer bring down $10 million (minimum) a year salaries.

Answer 3

I question all your statistics. 3% of my income goes to medicare?

The Universal Healthcare plans add up to less money per person then currently exist. The US pays the most money per person for healthcare. All the socialized and Universal systems pay less.

Also, do you realize that the Iraq war costs multiple times more then Medicare does?

Answer 4

nice breakdown RickyTbut the multiplier should be 6, not 7. Still extremely costly, and this is just one item on her agenda, it's the ones we don't know about that worry me most.

Alright then, I stand corrected.