Speaking of health care, how high would the Medicare payroll tax need to be to cover the Medicare system’s shortfall, depicted above graphically? That’s the reason there will be more health care spending reform. Either we’re going to cut costs, we’re going to borrow without limit, increase personal income taxes, or we’ll raise the Medicare payroll tax and probably all four.
Just read an article, said in California, 1 of every 3 people admitted to the hospital for any reason are found to be diabetic or pre-diabetic. This is a largely immigrant state, finding that just like their Native American cousins go straight from normal weight to diabetic in just ten pounds. Dialysis clinics are springing up all over. Medicare-for-all for the world is going to be impossible to finance. Not just difficult, impossible. And no amount of good intentions will fill that gap.
I predict a continuation of private insurance and of course pay as you go, and then crowded disease-ridden, auditorium sized waiting rooms wait times in weeks for the rest of us. We will have the absolute right to unavailable care.