Updated due to Math Error(s).
Chris Wallace and Peter Orszag (Director of the Office of Management and Budget) are discussing health Care reform. Here is the full transcript.
Chris mentions taxes:
The money line: "that affects a very small percentage of the population, 1 or 2 percent."
Stew's View:
A. As of 22 July, 2009, according to the Census bureau, the population of the United States is 306,975,184.
B. 10% of that is roughly 30.7 million.
C. 47 Million uninsured account for 16% of the population.
Although 9.7 million of the uninsured are non-citizen immigrants (IBD Editorial quoting "Income, Poverty, and Health Insurance Coverage in the United States," a census report), subtracting this number from the uninsured is poor categorization. (Remember the three rules for categorizing things. 1. Independent, 2. Mutually Exclusive, 3. Collectively Exhaustive.)
D. 17 Million live in households making more than $50K per year (same IBD editorial) - implication - they could probably afford some type of health insurance.
E. Leaving 30 million uninsured and probably unable to afford it.
F. That is roughly 10% of the population.
Back to the money line: "that affects a very small percentage of the population, 1 or 2 percent."
Orszag's implication seems clear to me, restated here "why should we care about being just to 1 or 2 percent of the population?" Indeed.
Stew's questions:
1. Why are we redesigning 17% of our 2007 gdp to close a 10% gap in coverage?
2. How many of the uninsured poor qualify for Medicaid and have not signed up for it? SCHIP?
3. How is the health insurance market like the auto insurance market (e.g. State mandates, federal regulation) - resulting in increased costs?
4. Why isn't private health insurance tax deductible, the way it is to employers?
5. Why can't private citizens have Health Savings Accounts?
6. What hidden costs of healthcare are driven by ineffective Government practices / regulations?
7. Tort reform?
Update: Louisiana Governor Bobby Jindal had an editorial in the Wall Street Journal today.
Chris Wallace and Peter Orszag (Director of the Office of Management and Budget) are discussing health Care reform. Here is the full transcript.
Chris mentions taxes:
WALLACE: Let's talk about taxes. The House would raise a half a trillion dollars to help pay for its health care program by imposing a surtax on top earners. As a result, combined with other Obama tax policy and local taxes, 39 of the 50 states would have tax rates over 50 percent.
I want you to take a look at this. The top rate in Denmark is 60 percent. It would be over 57 percent in Oregon, almost 57 percent in New York and California. That's higher than Sweden and Belgium.
Is the president prepared to say that it is unacceptable to raise taxes that high?
ORSZAG: Well, first, look. You were — you were adding in state and local taxes in those calculations.
WALLACE: Well, that's what people are going to have to pay.
ORSZAG: Secondly, that affects a very small percentage of the population, 1 or 2 percent.
The money line: "that affects a very small percentage of the population, 1 or 2 percent."
Stew's View:
A. As of 22 July, 2009, according to the Census bureau, the population of the United States is 306,975,184.
B. 10% of that is roughly 30.7 million.
C. 47 Million uninsured account for 16% of the population.
Although 9.7 million of the uninsured are non-citizen immigrants (IBD Editorial quoting "Income, Poverty, and Health Insurance Coverage in the United States," a census report), subtracting this number from the uninsured is poor categorization. (Remember the three rules for categorizing things. 1. Independent, 2. Mutually Exclusive, 3. Collectively Exhaustive.)
D. 17 Million live in households making more than $50K per year (same IBD editorial) - implication - they could probably afford some type of health insurance.
E. Leaving 30 million uninsured and probably unable to afford it.
F. That is roughly 10% of the population.
Back to the money line: "that affects a very small percentage of the population, 1 or 2 percent."
Orszag's implication seems clear to me, restated here "why should we care about being just to 1 or 2 percent of the population?" Indeed.
Stew's questions:
1. Why are we redesigning 17% of our 2007 gdp to close a 10% gap in coverage?
2. How many of the uninsured poor qualify for Medicaid and have not signed up for it? SCHIP?
3. How is the health insurance market like the auto insurance market (e.g. State mandates, federal regulation) - resulting in increased costs?
4. Why isn't private health insurance tax deductible, the way it is to employers?
5. Why can't private citizens have Health Savings Accounts?
6. What hidden costs of healthcare are driven by ineffective Government practices / regulations?
7. Tort reform?
Update: Louisiana Governor Bobby Jindal had an editorial in the Wall Street Journal today.
