Minimum Wage

Over the past several months, I've heard it over and over again: ."Minimum wage is too low;  A family of four (or six or eight or two) can't survive on minimum wage;  The minimum wage MUST be increased;  Minimum wage should go from $8/hour to $15/hour".  On and on and on....

What about the other end of the equation??  Aren't high prices just as much a part of the problem?  Could I live on $8 an hour if hamburger was $0.49/lb..... gas was $1.20/gal..... a loaf of bread was 20 cents... etc??

Why do we always talk about the wage side of the equation.  Why don't we REDUCE PRICES so that people can afford to live on minimum wage??????

NY Property Taxes

I just read an article lamenting the fact that 25% of NY property is exempt from taxes.  This is due, to a large extent, to properties such as universities, churches, government buildings, etc.  In some counties (e.g. Tomkins County) the tax exempt percentage is as much as 40%.  To this, the Tompkins County Administrator states: "You do try to pay 100% of your bills with 60% of the tax base."

HANG ON A MINUTE!!!!  These tax exemptions are not new!!  You, the government, decided to grant the tax exemptions in order to encourage whatever "business" you granted them to.  You should have based your BUDGET (and therefore your bills) an the tax base of ACTUAL non-exempt property.  Don't blame high property taxes on tax exemptions that YOU agreed to.  You are trying to pay 100% of the bills with 100% of the tax base you knew you had.

GOP takes a hit in CNN Poll; Do they care??

A recent CNN poll showed that the majority of Americans blame Republicans for the Government shutdown and the loss of billions of dollars to the US economy.  But do they care?

The hard line conservative Republicans come largely from congressional districts that are so carefully gerrymandered that it doesn't matter what the general population thinks.  These guys are going to get re-elected no matter what.

Isn't it time to get rid of the gerrymandering process and have an independent agency define congressional districts based on population and geometry rather than politics?

President: "Sign up; it will save you money"

During a speech in the Rose Garden today, President Obama expressed his frustration regarding the problems with the healthcare.gov website developed to allow people to sign up for health insurance under the Affordable Care Act.

While President Obama acknowledged that the website was experiencing problems at the moment, he encouraged us to be patient and consider other means to enroll; e.g. by phone or in person.  The main thing, he said, was to sign up, IT WILL SAVE YOU MONEY.

The President obviously doesn't understand how insurance works.  EVERYONE can't save money. Everyone pays premiums and claims get paid to those who are sick.  For the sick, it saves money IF and only IF their illness results in expenses that are greater than the premiums they paid.  The un-sick never save money.

Money = Free Speech

I'm not sure exactly when spending money became an expression of free speech.  The Citizens United case was the first time I remember and now the Supreme Court is considering removing limits on individual campaign contributions as well.

Could you not make a case that paying a prostitute is an expression of free speech and therefore laws against prostitution are unconstitutional?

Obamacare

One of the big advantages of the Affordable Care Act is that previously uninsured people will now be able to afford coverage.  One big benefit is that conditions can be treated in the early stages instead of after they get out of hand.  Let's think about this a little.

I don't have any health insurance and I'm not feeling very well.  Something's just not right.  A doctor visit costs $100  and I just can't afford to go.  I put it off for a month.... maybe 2.... maybe a year.  The next thing I know, I've had a heart attack when I could have started taking a statin a year ago and avoided the whole thing.

Along comes the Affordable Care Act to save the day.  Because I don't have much income, I qualify for a subsidy, which means I can get coverage for $60/month.  It won't be easy, but I"ll find a way to pay for it.  Now, here we go again... I'm not feeling well, I really should go to the doctor.  But guess what.  My $60/month Bronze plan has a $3000 deductible.  It still costs me $100 to go to the doctor and not only couldn't I afford it before, now certainly can't afford it with a $60/month insurance payment.  I still don't go to the doctor and I still have a heart attack.  The difference now is that I have insurance to cover part (maybe only 50%) of the hospital bill.  Seems like I'm just as sick and just as bankrupt either way.

I don't see how the "early stage detection" outcome is going to be achieved.  Perhaps some will be discovered during a covered yearly physical exam, but from my experience: a) other than the routine blood work, there really isn't much depth to an annual physical exam, and b) if something is discovered, any likely required follow up is NOT covered until the deductible is reached. I couldn't afford $100 for a doctor visit, how am I going to afford $200 to see a specialist?

What Happens When The Money Runs Out

In a typical scenario, when I am no longer to care for myself due to illness or old age, and I have assets available, I check into a nursing home and pay the bills. When the money runs out my family can go through the arduous process of applying for Medicaid, and if I have followed all the rules over the past 60 months, the cost of my care from that point on will be covered by Medicaid.

What if I had no family?  What if I didn't want to go through the Medicaid process?  What if my family was incapable or unwilling to go through the paperwork.  What if I didn't follow the rules?  Maybe I bought new houses for my children 2 years ago.  The money is no longer mine so the nursing home or government can't get it, but I didn't follow the rules, so I don't qualify for Medicaid.  What would happen to me?  Would they load me in an ambulance and take me..... where?  Would they wheel me out to the curb and leave me? Would they put me in jail?  Who will take care of me there?  Will they administer a deadly drug?  Or, would the state actually pay for my care in the end, regardless of if I followed the rules or not? What actually happens when the money runs out?

Long Term Care Expenses

I was just at a seminar about how to fund long term care expenses conducted by a LTC insurance broker.   Obviously this guy has a product to sell and he used all the typical scare tactics to convince the audience that his product was the only way out.

One of the things that absolutely turned me off about this guy was his attitude about Medicare and Medicaid.  Basically, if you depend on programs such as these, you are expecting someone else to pick up the tab for your expenses, while if you buy his product, you are taking care of yourself.  This is pure bullshit.  ALL insurance is based on expecting someone else to pick up the tab for your expenses.  All insured people pay premiums and claims are paid to those who need it.  Medicare and Medicaid are no different.  All people pay premiums (included in their taxes) and benefits are paid to those who need it.