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View Diary: Answer to anti-Obamacare decision? Medicare for all (171 comments)

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  •  What bbb said (22+ / 0-)

    They're already doing that.

    And what could shore up Medicare finances more than bringing in the premiums from a younger, healthier cohort? That takes one big argument away from the Republicans who want to privatize it "for its own good."

    "There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning." —Warren Buffett

    by Joan McCarter on Wed Jun 27, 2012 at 11:03:52 AM PDT

    [ Parent ]

    •  I'm aware that they're already doing it (2+ / 0-)
      Recommended by:
      chimpy, Joan McCarter

      I agree that we should have extended Medicare to everyone years ago...but given how effectively the Right has propagandized this, I can't see it having much traction.

      Sucks all around :(

    •  It's the ultimate risk pool (1+ / 0-)
      Recommended by:
      Joan McCarter
    •  But only if you require everyone to be covered (1+ / 0-)
      Recommended by:
      Joan McCarter

      If it is simply an option to buy Medicare covereage, it really is no better because the young and healthy will still say "I'll keep my $25 a month, I don't need insurance". There is no way that the current 2.9% tax could cover full funding for the entire population.

      •  Australian individual income taxation (3+ / 0-)
        Recommended by:
        mconvente, ybruti, Chi
        Income tax on personal income is a progressive tax.

        The current tax-free threshold is $6,000, and the highest marginal rate for individuals is 45%.

        In addition, most Australians are liable to pay the Medicare levy, of which the standard is 1.5% of taxable income.[1]

        Individual income tax rates (residents)Financial years 2010-11, 2011-12[2]

        Taxable income Tax on this income
        0 – $6,000 Nil 0%
        $6,001 – $37,000 15c for each $1 over $6,000
        $37,001 – $80,000 $4,650 plus 30c for each $1 over $37,000
        $80,001 – $180,000 $17,550 plus 37c for each $1 over $80,000
        $180,001 and over $54,550 plus 45c for each $1 over $180,000

        The Low Income Tax Offset (LITO) is a tax rebate for individuals on lower incomes. From 1 July 2010 it provides individuals earning less than $30,000 with a tax rebate of $1,500. The full offset is reduced by 4c for every dollar of taxable income above $30,000, meaning incomes greater than $67,500 do not receive any benefit.[4] The LITO creates an effective tax-free threshold of $16,000 for low income earners. For the 2011-2012 tax year, 70% of the LITO entitlement is received as reduced withholding tax, the balance is received when a tax return is lodged.
        In 1999 indexation on capital gains ceased and subsequently gains on assets held for more than one year are usually reduced by a discount of 50% for individuals, and 33% for superannuation funds. Due to inflation, a capital gains tax can be due even when no gain in purchasing power was achieved. However, in some cases where an indexed cost base applies (where an asset was acquired before indexation ceased) applying the old indexation rules gives a better tax result. Capital gains realised by companies are not discounted. Capital gains made by trust structures are usually taxed as if they were made in the hands of the ultimate beneficiary, though there are exceptions.

        The disposal of assets which have been held since before 20 September 1985 (pre-CGT assets) is exempt from CGT.

        http://en.wikipedia.org/...

        In Australia, Medicare is for all ages.

        •  also (1+ / 0-)
          Recommended by:
          ybruti
          State governments in Australia levy a payroll tax on the wages outlay of employers. Typically the tax applies to all wages above a threshold. Groups of companies may be taxed as a single entity where their operations are significantly integrated or related.

          Current Payroll Tax Rates and Thresholds

          State Annual Threshold Tax Rate
          New South Wales[8] $658,000 5.55%
          Queensland $1,000,000 4.75%
          South Australia $600,000 4.95%
          Australian Capital Territory $1,200,000 6.85%
          Victoria $550,000 4.95%
          Western Australia[9] $750,000 5.50%
          Tasmania[10] $1,010,000 6.10%

          Some companies are eligible for deductions, concessions and exemptions.

          Family Tax Benefit

          For families with dependent children the income tax system includes a supplementary set of rules known as Family Tax Benefits (FTB) that are applied in a more complex way by different departments. The benefits and thresholds vary depending on the number of children, and which of the married partners earns the additional income.

          There are two parts, FTB-A and FTB-B.

          For FTB-A each family receives a payment for each child. In 2008/9 this was

          Value Age
          $4,631 under 13
          $5,818 13..15
          $1,945 16..17
          $2,379 18..24 (if still dependent)

          These payments are reduced by 20% for total family income over $42,559 ($45,114 for 2010/11). It plateaus at roughly $1,300 per child until income over $94,000 is reached, at which point it is reduced by 30%.

          FTB-B pays about $3,358 if the youngest child is under 5, $2,339 if 5..15. Only one payment for the youngest child is made. The payment is means tested on the income of the parent with the lower income, reducing by 20% for income over $4,526 ($4,745 for 2010/11).

          Income is calculated more strictly for FTB purposes. For example, investment losses are considered to be income for the purpose of FTB, and salary sacrifice superannuation contributions are also counted as income.

    •  Sky is falling and Medicare is going bankrupt. (0+ / 0-)

      "We can't expand a program that is already going bankrupt." In fact, I've even seen a fair block of people here saying this, though not recently, but certainly back in 2004-2008.

      That will the Repub Party response to Medicare expansion.

      24/7, it's all 'Great news for Romney!'

      by doinaheckuvanutjob on Thu Jun 28, 2012 at 12:27:35 AM PDT

      [ Parent ]

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