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If capital gains were taxed like income, huge amounts would be raised for traditional Medicare, prescription drugs under Part D, Medicaid, and other social programs. Instead, they're on the chopping block for big cuts before privatization en route to eliminating them altogether.
In contrast, under a universal single-payer system, Medicare would be sustainable long-term. Eliminating private insurer middlemen alone achieves dramatic cost savings.
In its September 2007 report to Congress, the Congressional Research Service (CRS) compared 2004 US healthcare spending with other OECD (Organization for Economic Cooperation and Development) countries.
It found America spent $6,102 per person (today it's over $8,000), well over double the $2,560 average for other OECD countries. Much of the difference comes from insurer administrative costs providing no care. Other OECD countries deliver better overall services at less than half what Americans spend.
Premium support and similar plans are steps toward destroying Medicare altogether, first by privatizing it for profit. Breaux's plan set federal premium subsidies at 88% of the nationally weighted average.
Beneficiaries choosing plans costing less than 85% of the average would pay no premium. Those selecting higher benefit plans would cover extra charges.
Plans (allegedly) would have to provide benefits equal to current Medicare coverage, though they could offer additional benefits. They'd also be updated annually based on individual choice.
Savings are alleged to come from beneficiaries selecting lower cost options, price competition to attract enrollees, and letting recipients purchase Medigap coverage for added benefits.
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