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^ on top earners, the rate is 45% and peaks at 57%. if you read the studies from the independent UK institute for fiscal studies, it conservatively estimates the peak to range between 66% -75% range.
Yes, I was referring to the Laffer curve. I agree the rate-revenue relationship drives the inflection point and steepness. If you studied the curve in greater detail however, you would be familiar with the Romer and Romer UB Berkeley study. The study determined the point at approx 33%. I might add this was a study conducted by the leftist UCB. Also, Christina Romer was the former chair of Obamas council of economic advisers.
Lol. A bunch of entitled healthy kids talk about why healthcare system they have never experienced is better. Haha. Love it. VP1 --- you are the fucking man!
VP1 trolling the hypersensitive liberals and they don't even realize it. 👏🏼🤣
Fair point @MS1. @GS1 I'm aware that Obamacare is an awkward way of socialising healthcare. A lot of the problems with it stem from the push backs he got in congress etc that meant he couldn't just make it universal care and had to do this weird private insurance thing. It's better than nothing but it's not what most people think of when they imagine nationalised healthcare.
From Canada here. While I agree that universal healthcare does open up issues of inefficiencies and long wait times, I still champion it's many merits. Aside from treating illness, it also gives individuals and families peace of mind to know that they will be taken care of in any case, and that the burden doesn't fall solely on themselves or their family to pay for treatments. Both my parents have had expensive illnesses (organ failure resulting in transplant and cancer) and neither would be alive today if it were up to us to pay for all of it. It wouldn't have helped anyone emotionally either if they were thinking about money problems, on top of recovery. In other words, consider if the social benefit of universal healthcare might extend beyond physical treatment.
It's not just the unemployed, it's everyone who benefits. The NHS is funded by the govt (which is mostly income taxes) but everyone rich or poor can go and see a doctor for free, or a nurse, is entitled to free hospital treatments and emergency care.
And care "rationing" has nothing to do with socialised medicine and everything to do with the Conservative government specifically cutting costs and not funding it. If the money isn't there, no care could be provided- nationalised or otherwise.
Fyi, I worked in hospitals and healthcare before entering finance. So I know a thing or two. Come back to the table with more experience and reasoned arguments and I'll listen.
The NHS is not perfect. Nothing is. There are a lot of ways to improve it, most related to better funding.
I know that the government gets its income from taxes, I literally already said that. Firstly, the tax rate for individuals in the U.K. - even individuals earning hundreds of thousands a year - isn't 60%, it peaks at 40-50% depending on your income but is much less for people on average salaries.
The 33% thing I assume you're talking about Laffer curves? I don't know where you get the 33% from but assuming one number applies to all situations demonstrates a lack of understanding. The rate-revenue relationship relies on a huge variety of things, including perceived "value" from paying income tax, and how flat the bands are.
OECD report? Seriously? Now you are pulling desperate straws for support 😂
VP 1 - I disagree with nearly everything you say and agree with OP. My experience with the NHS has been good. I also think you're way off on your comments about taxes.
Oh, we don't have money in this years budget for your liver transplant, we will put you as #1235324 - hope you won't die. Good luck
Haha! Always the management. Then why didn't change the management? Oh that's right because government is bureaucracy and there is no such a thing as management - it's only bureaucracy.
^ truth
IBAssoc, GS1, JPMC1- Preach !👍🙌
Had this argument with a Brit the other day. The cost benefit analysis simply isn't there for me. Would cost north of 20 trillion, and there are so many examples of poor nhs systems. Risk/reward not there.
Guys I suggest we push our employees to create safe spaces to discuss issues like these:)
^ good point. And on that note, @OP (and more importantly, Obamacare supporters) should consider the fact that the Obamacare architects EXEMPTED themselves from having to participate. If that doesn't reek of garbage, I don't know what does.
I can't stop laughing at everything following the first sentence of your last post. "This weird private insurance thing" because of push back in congress. LOL. Nancy Pelosi: "we have to pass the bill so that you can find out what is in it."
I think you missed the point...OP trying to draw attention to the fact that the current system in the US for all its compromises (though I'm sure others would use a more colourful term) resulted in a system which is incomparable to a single payer system or the nationalised healthcare systems in other countries.
Because corporations and the rich control our government through propaganda and they don't want to shoulder the costs.
And IBA 1 - saying there are many examples without citing any to backup your funny numbers just makes you a tool. A literal tool for the right's PR machinery.