the united states government already pays more than the canadian government per capita for health care. What? yes you read that right, we don't even have universal healthcare, and our government still pays more. that cost doesn't even include the billions that private citizens pay for it.
as nebbiolo was saying, early detection can drive costs down, and early detection comes from routine care. some estimates show that a universal healthcare system really isn't all that much more expensive.
as for you not wanting universal healthcare, i'm going to guess you're not on an hmo? because i am, and while mine isn't terrible, i know plenty of people on them who are far from satisfied with the costs.
i agree though, social security should be a top priority at the moment. i say we should raise the salary cap on it, or possibly graduate it heavily, to generate more revenue. thoughts?
My company has me on a PPO.
Good question on Social Security because I honestly don't have an answer for you.
The system wasn't designed to be used as it is today.
Back in the 60's and 70's, people would retire at 65 and die on average around 73 so their money would only have to last them 8+ years, including Social Security.
However with the advancement in medicine and technology, people are now retiring at 55 to 60 and living until age 80 to 85. Now their savings (and Social Security) has to potentially last them 30 years vs. 8 years.
I would be for a partial privatization of Social Security contributions. I'm guessing 25% or something like that. Let the long term returns of stocks and bonds work for a portion of the account. That way the government doesn't have to do all the heavy lifting. I don't know if you could raise the tax and/or cut the benefits but the gov't might have to if they don't find a solution.
I certainly think one issue is that our country has become a country of consumers rather than savers. Rather than people saving for retirement, they're sacrificing the future for the latest car, big screen TV, or other wants. I'd rather see our country start to move it's way back down the spectrum of saving rather than spending. Learn what compound interest can do over a long period of time when not only saving, but adding to that savings on a regular basis (through a 401k or other means).
Back in the day, people could rely on three sources to get them through retirement.
1) Social Security
2) Pension Income
3) Qualified Plan (401k/IRA) savings.
Today, I think we can really only rely on what we save in option 3 as we have issues with option 1 and very few companies now are offering pension benefits. And even if they do, they aren't guaranteed.
What do you think?
