How to Steal a Billion • Hacker News Board

Re: How to Steal a Billion

#151

Post by xyzzyz » Thu, Nov 07, 2019, 6:57 PM UTC

tptacek wrote: post #129

wycy wrote: post #56

Earlier quoted context omitted.

Lost in points like this, where you’re trying to scare people by saying a large number, is that the distinction between a Medicare for All type of system and the current private system is less about how much it costs and much more about who the middleman is. * In M4A, Americans will pay ~$30T/10yr to providers through the government as a middleman. * In the current private system, Americans will pay ~$30T/10yr to pro…

This is maddening. The problem with the US healthcare system is that we're paying ~$30T/10yr†, not who we're paying it to . The idea that locking those exorbitant costs in would be a win is baffling. The efficiency gains of single payer are overrated. We pay more than other countries do in admin overhead, but admin overhead itself is a small fraction of total costs, and as a percentage of our spend, admin costs would…

Indeed. We already effectively have single payer system for large segments of the population, the Medicare itself. It still didn't push the costs down to European levels for Medicare recipients.

The US needs cheaper healthcare, but single payer won't achieve that.

Re: How to Steal a Billion

#152

Post by wycy » Thu, Nov 07, 2019, 7:13 PM UTC

xyzzyz wrote: post #151

tptacek wrote: post #129

Earlier quoted context omitted.

This is maddening. The problem with the US healthcare system is that we're paying ~$30T/10yr†, not who we're paying it to . The idea that locking those exorbitant costs in would be a win is baffling. The efficiency gains of single payer are overrated. We pay more than other countries do in admin overhead, but admin overhead itself is a small fraction of total costs, and as a percentage of our spend, admin costs would…

Indeed. We already effectively have single payer system for large segments of the population, the Medicare itself. It still didn't push the costs down to European levels for Medicare recipients. The US needs cheaper healthcare, but single payer won't achieve that.

Part of the reason for that is that Medicare is forbidden by law to negotiate prices the way other insurance companies can as a result of the GOP's Medicare Prescription Drug, Improvement, and Modernization Act of 2003.

Re: How to Steal a Billion

#153

Post by nickpp » Thu, Nov 07, 2019, 7:53 PM UTC

Spooky23 wrote: post #93

ksdale wrote: post #38

Earlier quoted context omitted.

It's especially interesting, because although a billion dollars is a staggering amount of money for one person to possess, if you distributed the wealth of the world out to every single person evenly, it would only be something like $50,000 per person (based on some quick Googling), which is a life changing amount of money, to be sure, but it's a one time deal. It's not $50,000 per year of income, it's $50,000, perio…

That’s the wrong way to look at it. Velocity of money creates value. If you have everyone money, they would buy and sell goods and services instead of hoarding it.

You do realize billionaires actually invest their money, not "hoard" it. In stocks they finance companies. In banks they lend to borrowers.

Their money are put to good work. They don’t just put the money under a mattress.

Re: How to Steal a Billion

#154

Post by tptacek » Thu, Nov 07, 2019, 8:46 PM UTC

wycy wrote: post #152

xyzzyz wrote: post #151

Earlier quoted context omitted.

Indeed. We already effectively have single payer system for large segments of the population, the Medicare itself. It still didn't push the costs down to European levels for Medicare recipients. The US needs cheaper healthcare, but single payer won't achieve that.

Part of the reason for that is that Medicare is forbidden by law to negotiate prices the way other insurance companies can as a result of the GOP's Medicare Prescription Drug, Improvement, and Modernization Act of 2003.

It can't be much of the reason, because prescription drugs are, contrary to popular opinion, actually a relatively small component of US healthcare spending.

Re: How to Steal a Billion

#155

Post by lifeformed » Thu, Nov 07, 2019, 9:57 PM UTC

Red_Leaves_Flyy wrote: post #113

lifeformed wrote: post #72

Earlier quoted context omitted.

Really? $5M is $100k a year for 50 years. I can live comfortably off of $35k a year a long as I'm not in San Fransisco or something. With just $1M I could live indefinitely off investment income, which would be like $50k a year. Double those expenses to support a family, and you're still under budget.

$35k pre or post tax and what's your total tax rate?

Either one is fine. $35k post tax is super comfy and easy to do, while $35k pre-tax is a little trickier, and would be 15-20% tax rate depending on your state. Monthly budget of $1100 rent and utils, $300 food, $150 car, $60 entertainment, $300 misc, plus $150 for (bad) health insurance. That's $25k/year. Not exactly a comfortable lifestyle but a few hundred dollars extra in a few categories wouldn't dig into $5M much.

Re: How to Steal a Billion

#156

Post by Red_Leaves_Flyy » Thu, Nov 14, 2019, 10:28 PM UTC

lifeformed wrote: post #155

Red_Leaves_Flyy wrote: post #113

Earlier quoted context omitted.

$35k pre or post tax and what's your total tax rate?

Either one is fine. $35k post tax is super comfy and easy to do, while $35k pre-tax is a little trickier, and would be 15-20% tax rate depending on your state. Monthly budget of $1100 rent and utils, $300 food, $150 car, $60 entertainment, $300 misc, plus $150 for (bad) health insurance. That's $25k/year. Not exactly a comfortable lifestyle but a few hundred dollars extra in a few categories wouldn't dig into $5M muc…

Everyone's situation is different, but I wouldn't be so quick to assume yours is reflective of most.

I take home 20k/30k, etr of 35%.

Everything else seems pretty far under average, or in the case of rent, unrealistic. My prices are reflective of a high tax/cost of living city in the northeast.

Just rent on a studio within a thirty minute drive averages $1k, only including trash, snow.

Add $100 for basic cable internet.

Double that car cost, 150 almost covers gas and insurance. Doesn't include paid parking. Some jobs and Some parts of the area can get public transport to workfor them, I can't.

$60 is pretty low for a decent cell phone plan. Be more like 120 in reality.

health cares an extra $800/mo (after insurance pays) if I were to follow my health care providers reccomendations.