The scam carried on by the corrupt Healthcare industry along with its insurance arm in the form of welfare-for- the- rich- socialized- medicine is the main reason why the US government and the state governments are going bankrupt. The healthcare industry is charging every working American the most regressive tax that takes away over 50% of annual income of the poorest families and bankrupt about 700,000 people every year. This punishment on the nation is in addition to about 45,000 people, the healthcare industry is killing every year by not providing adequate healthcare. The major reason there is hunger, poverty and human rights violation in the world is due to the corruption by a handful of ruthless people. In the USA such corruption is being manifested via the deceitful actions of the most powerful healthcare industry lobby holding the major governing institutions hostage as they bankrupt the nation. Let me explain how it is creating over $23 trillion in unfunded liability.
From the time you are born until you are 65 years old (capturing the most healthy and least medically-costly life span of a person) the healthcare insurance companies charge citizens a health insurance premium which is subsidized by the US government and state governments through a tax deduction costing the federal budget about $400 billion per year in deficit and a few more billions to all the state governments. This healthcare insurance premium is the biggest regressive tax imposed in the history of the world. More money you make the lesser the rate of insurance (indirect taxes) you pay. In the case of most working people health insurance is paid by their employers and thus people do not recognize this and think that it is free. But it is not and it is a regressive tax on their income.
None of the senators and the congressmen pays any of the health insurance since the taxpayers pay it for them. In the case with almost all of the wealthy, their corporations pay it and since it is so regressive they don’t feel the effect of it. That is the shrewdness of the healthcare industry. They take care of the most vociferous in the nation for free (welfare for the powerful—the smartest bribe) so they comply by allowing the industry to tax the people most regressively.
If you are poor and cannot pay health insurance companies this tax then the only choice you have is to enter the emergency rooms in a life and death situation (thus about 45,000 die every year) and that cost the taxpayer whole lot more money since the state governments pay such expenses as Medicaid payments. Some state governments are now closing down their police departments not being able to pay all their expenses (The wealthy can afford private security so this is going to affect mostly the middleclass).
When Americans turn 65 reaching the age that is too costly for the insurance companies to pay for their healthcare, the companies shrewdly shift that cost to the federal government through the Medicare program which is bankrupting the nation due to spiraling cost of unaccountable healthcare in the USA. The irony of this welfare scam is that until any American is 65 they cannot get even a medical check-up if they don’t have insurance and even if they have insurance, often insurance companies deny it (hoping that they will die quickly) since the high cost of healthcare has to be borne by the private insurance company but the minute the patient is shifted to Medicare insurance then the same hospitals would grab the person to the hospital and do not let the person die. The longer they keep him alive by any means possible, more money they can squander from the government. The healthcare industry charges about $10,000 per day to keep a dying man alive by hooking him/her up to all the high tech machines. And this same industry will refuse treatment when Americans are under 65 and, insured by their partners, the private Health Insurance industry. Such a scam could not have been perceived in fiction but this is the reality in the USA.
It is not hard to stop the healthcare industry bankrupting the nation. We can do that as follows.
1. Stop welfare-for- the-rich- socialist- healthcare program by disallowing the tax deduction for paying health insurance premiums by employers. This will save the tax payer about $400 billion per year and reduce the government deficit.
2. Stop the taxpayers paying the healthcare cost of congressmen and other government employees but instead make everybody pay for healthcare expenses including insurance premiums from after tax dollars as they pay auto insurance.
3. Breakdown the health insurance cartel and the healthcare industry cartel and increase competition to reduce cost.
4. Encourage not-for-profit healthcare providers and insurance companies to enter the field and compete head on with profitable companies.
5. Get rid of the Medicare and Medicaid programs gradually by easing them out by transferring that cost to not-for-profit healthcare companies. That will save the government this $23 trillion in unfunded liability.
Unless we do this, with over 23 trillion in unfunded liability in Medicare looming over us, we cannot stop the USA from going bankrupt because more money the healthcare industry profiteers make more powerful and greedier they get and will continue bilking the nation till the government no longer can print and borrow money from the rest of the world go pay them. Such an end will lead to a major World War that may cost the lives of millions of people.