Chapter 3 - Media Article
Bush unveils health care tax breaks
http://money.cnn.com/2007/01/20/news/economy/bush_healthcare.reut/index.htm?postversion=200712012
President Bush announced a plan to use tax-code changes to encourage more people to buy health insurance. His answer to the problem, which many Americans lack it, was that he would emphasize private health insurance coverage rather than expanding government provided programs. Healthcare is the top concern among many Americans as the cost for private insurance rise. His proposal would use tax breaks to make it easier for people who do not have employer-provided health insurance for interest on their mortgages. Bush said the current tax code unfairly penalized people who want to buy health insurance on their own while offering incentives for expensive employer-provided health plans raising costs through the system. The proposal is trying to encourage the expansion of health-savings accounts that allow people to save tax-free for out of pocket health care expenses. Other states have been trying out their own proposals.
In chapter 3, we learned about the role of government in the market economy where we learned about why and how the government is involved. Part of the chapter discussed about how the government deals with healthcare, which this article is about. In Canada, healthcare is publicly and privately funded. While in the U.S., health is funded privately. In this article, it confirms that the Americans really are concerned about their health and private healthcare is not the best option. There are also third party effects. Canada follows public healthcare for the community’s benefit. Diseases won’t be spread because everyone can afford health care, while the U.S., some cannot. By making tax-code changes, people’s health will improve with benefits. In this situation, the government is trying to help the market by changing the tax code so that more people can buy health, which Americans lack. This is Bush’s way to balance the high cost of healthcare insurance.
Health is the most important thing in this world. The solution to high price healthcare will be to make it a public service, however Bush’s government still believes in private healthcare is best for the U.S. Therefore, their only solution to make things better is to make tax-code changes. If the U.S. followed Canada with public healthcare, it would eliminate the country’s biggest concern.
http://money.cnn.com/2007/01/20/news/economy/bush_healthcare.reut/index.htm?postversion=200712012
President Bush announced a plan to use tax-code changes to encourage more people to buy health insurance. His answer to the problem, which many Americans lack it, was that he would emphasize private health insurance coverage rather than expanding government provided programs. Healthcare is the top concern among many Americans as the cost for private insurance rise. His proposal would use tax breaks to make it easier for people who do not have employer-provided health insurance for interest on their mortgages. Bush said the current tax code unfairly penalized people who want to buy health insurance on their own while offering incentives for expensive employer-provided health plans raising costs through the system. The proposal is trying to encourage the expansion of health-savings accounts that allow people to save tax-free for out of pocket health care expenses. Other states have been trying out their own proposals.
In chapter 3, we learned about the role of government in the market economy where we learned about why and how the government is involved. Part of the chapter discussed about how the government deals with healthcare, which this article is about. In Canada, healthcare is publicly and privately funded. While in the U.S., health is funded privately. In this article, it confirms that the Americans really are concerned about their health and private healthcare is not the best option. There are also third party effects. Canada follows public healthcare for the community’s benefit. Diseases won’t be spread because everyone can afford health care, while the U.S., some cannot. By making tax-code changes, people’s health will improve with benefits. In this situation, the government is trying to help the market by changing the tax code so that more people can buy health, which Americans lack. This is Bush’s way to balance the high cost of healthcare insurance.
Health is the most important thing in this world. The solution to high price healthcare will be to make it a public service, however Bush’s government still believes in private healthcare is best for the U.S. Therefore, their only solution to make things better is to make tax-code changes. If the U.S. followed Canada with public healthcare, it would eliminate the country’s biggest concern.
posted by MarcoLeung at 12:24 PM
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