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> You know why many Americans are on the edge of medical bankruptcy? It’s nothing to do with the tax rate, and entirely to do with the insane insurance system
by jen20 4y ago
> You know why many Americans are on the edge of medical bankruptcy?
It’s nothing to do with the tax rate, and entirely to do with the insane insurance system that does not even try to keep costs reasonable. The UK gets this correct with the same tax rates (when you include property tax) as the US.
- rayiner 4y agoThat might be a plausible explanation if it wasn't for the fact that many government services in America cost vastly more than their equivalents in Europe: public education, public infrastructure construction, etc. Even advocates of universal healthcare like Elizabeth Warren don't argue they could achieve universal coverage without a trillion+ in annual spending increases. Also, the UK does not have similar taxes to the US: https://www.oecd.org/tax/revenue-statistics-united-states.pdf https://www.oecd.org/tax/revenue-statistics-united-states.pd.... US taxes, at all levels, are 25.5% of GDP. UK is 32.8%. And those taxes in the UK fall much more heavily on the middle class. That's partly because the brackets are tighter (the 40% rate kicks in at 50,000 pounds, and the top rate of 45% kicks in at only 150,000 pounds). But also because a huge fraction of revenues is from the 20% VAT.