Among many issues, there are three major issues addressing our nation this year. Maybe instead of thinking about them separately, let’s consider healthcare, revenues, and spending together.
We are on the cusp of working on healthcare, then consider tax reform and finally the mule in the living room, budget. Actually there are really three mules and they are all stubborn which is reasonable. All three are important facets of our way of life.
Let me start with money. Year after year over the long run let’s say our economy grows at 2% and lets say that monied people in our country, billionaires, could earn one percent or $2,000,000,000.00 a year. If 50% of that would be realized after taxes, then that income would be $1,000,000,000.00 (one billion dollars) per year. Or, $192, 307.00 per week. Or, $27,472.00 a day. (You could buy a new car for every day of the year, but parking them all would be somewhat of a problem.) Seriously, hardly anyone can spend, for instance $192,307.00 a week.
If there are a 1,000 billionaires, the revenues would be $1,000,000,000,000.00 (one trillion dollars) per year. Remember there would still be revenues from others earning less. These persons could be bracketed down similar to contemporary percentages.
Healthcare. There are many considerations of healthcare. Healthiness of our people would be the issue, not money. Isn’t that the idea of healthcare, to keep people healthy? The second is how to pay for it. If we had real healthcare for all and think about this on a long term situation, which it is, the cost of healthcare would be less in the long run. There is a whole plethora of reasons that this is a worthwhile goal.
Spending. Overall, in our next budget imagine that our spending in all programs would be the same. Using that idea as a base, it is a given that we would have problems financially; however, revenues of one trillion dollars per year would solve, or come close to solving, this financial problem. Starting with a Universal HealthCare program that would encompass our present Medicaid program, here is what we could do. Take a significant portion of revenues from the one trillion dollars and the Medicaid budget and allocate them to a Universal HealthCare program. There should be a considerable sum left available for reducing the national debt and adjusting all the other programs as needed.