Look Out the Window Economics

Index
1. Everyone is On Welfare    2. Federal Debt Has Not Been a Problem    

3. The Good Old Days Were Expensive

4. Government Helps the   Poor   Elderly    Middle    Wealthy

5. While Good Jobs Are Disappearing, Wellbeing is Up

Return to Current U.S. Political Economy Controversies   Updated 12/09/17       Please  

 

 
 

Everyone is On Welfare
Are You Getting Your Fair Share?
Check from 1 to 12 items to qualify as a welfare recipient. 

 You receive/received health care and retirement  benefits from an employer that were not taxable income.   _____
    Why? Determining what is taxable income is arbitrary.

 The top 20 percent of income earners receive over half the value of major tax expenditures

 
 

 

You are associated with Social Security (pay or receive) and have/had a family. _____
     Why?
Single people pay the same as those with a family and receive no social security family benefits.  

SOURCE: Congressional Budget Office, CBO 2015 Long-Term Projections for Social Security, December 2015. Compiled by PGPF.

 

 
 

You/your family are not covered by health insurance      ______
     Why?
You have the security of knowing society will pay when sickness occurs. Just go to the hospital.

 "In fact, their results suggest that each additional uninsured person costs local hospitals $900 per year.                

That means hospitals are effectively serving as “insurers of last resort” within the American healthcare sector by providing care to uninsured patients who cannot afford to pay their medical bills. " “People are still going to the emergency room,” Garthwaite says, “and they are still receiving treatment—so the cost is still there. When governments do not provide health insurance, hospitals must effectively provide it instead.”

Interestingly, nonprofit hospitals end up absorbing the bulk of this care. A majority of private hospitals in the United States—more than 70 percent—are nonprofit firms and therefore expected to provide a “community benefit” in exchange for tax relief Source

 

Editor's Note: In 2001 the Total Uninsured cost for full and part year recipients was

 

"It also doesn’t mean that hospitals won’t try to bill someone without insurance. And the bill they send will be higher than for an insured patient because there’s no carrier to negotiate lower prices.

As a result, the uninsured are more likely to be contacted by collection agencies, as they face problems paying both medical and non-medical bills. One study, published in 2016 by the National Bureau of Economic Research, found that someone who goes into the hospital without insurance doubles her chances of filing for bankruptcy over the next four years."

$83.1 billion $ 1,335 per person

 

For all 12 qualifiers see Everyone is on Welfarem

 
 


Federal Debt Has Not Been a Problem

In the Beginning There Was Revolutionary War Debt

 
   

More Wars, More Debt But
More Growth Meant Lower Debt Burden

Because spending on entitlements, education and the military are not contracts, 
we can expect cut backs when the dollar loses its Exorbitant Dollar Privilege

 

 

The Good Old Days Were Expensive

1964 TV's Were Small, Expensive
and Poor Color Gave Everyone Sunburn

 

 

 

Today's TV Screens are Bigger, Set Is Smaller With a Better Picture
and Look at All the Extra Stuff You Get Today With the Saved Money!

the-magic-of-the-global-marketplace-and-the-miracle-of-global-manufacturing-christmas-1964-vs-today/

 

Poverty Drops to 4.8%
 

This chart "...provides a first approximation of how correcting the 2013 poverty rate for noncash food and housing benefits, refundable tax credits, and not using the upward [inflation] bias of the CPI-U would change the 2013 poverty rate. This adjusted poverty rate falls from 14.5 to 4.8 percent, making the 2013 rate roughly a quarter of the 1964 rate (19.0 percent). Source

 

 

If we were to lower the poverty threshold for cohabiting couples to match that for married couples the 2013 poverty rate would have fallen even more." Examples of noncash benefits include food stamps SNAP), discounted school lunches, subsidized rent, Medicaid, and Medicare. See Source

 

 

 

Elderly

 

Middle Class

 

Wealthy

Good Jobs Are Disappearing

 

For More and More College is Not the Answer

Source

 

Wellbeing is Up

 

 

Safety Net is Better

 

 

 

But Inflation May Not "Save the Day"

 

Click to View