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Medicare Millionaires Totaling Almost 4,000 Seen In Data

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http://www.bloomberg.com/news/2014-04-09/first-data-in-33-years-shows-4-000-medicare-millionaires.html

Medicare paid almost 4,000 doctors and medical professionals more than $1 million apiece in 2012, including seven who received more than $10 million. Eye doctors were among the highest compensated, including one Florida ophthalmologist paid $21 million in 2012.

The disclosures were gleaned from $77 billion in payment data released by the government this morning that provides the first look at Medicare payments to physicians in more than three decades.

The data file covering 880,000 providers showed a concentration at the top, with the doctors over $1 million receiving at least 13 times the $77,000 average paid by the program. The data showed that cancer doctors specializing in blood work and radiation are those best compensated by Medicare, each averaging over $360,000 in annual payments from the program for the elderly and disabled, which is the largest health-care payer in the U.S.

Luckily this isn't socialism and the capitalists are working hard at getting their rewards from the taxpayer.

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Meanwhile the disillusioned members of HPC are queueing up for the Promised Land across the pond.....£4,000 per annum medicare, £4,000 per annum local taxation and the rest.

Some cheaper life, unless you are extremely profligate on discretionary spend.

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Meanwhile the disillusioned members of HPC are queueing up for the Promised Land across the pond.....£4,000 per annum medicare, £4,000 per annum local taxation and the rest.

Some cheaper life, unless you are extremely profligate on discretionary spend.

We have banksters ripping us off housing, they have doctors ripping them off on healthcare.

Same shite, different area.

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We have banksters ripping us off housing, they have doctors ripping them off on healthcare.

Same shite, different area.

Yup. In both cases the sheer weight of vested interests stifles proper reform. The only way to get it would be to have a president/prime minister of the Roosevelt/Churchill or similar mold. Someone who can shatter those interests. There was some hope, initially at least, that Obama would be that person with his talk of "change". What an utter plutocrat sycophant he turned out to be. The only one that I can currently see on either side of the atlantic that might do it is Elizabeth Warren, but that would be quite a bit into the future, and even she might go native.

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I'm not defending the US healthcare system here since it's truly bonkers. However, a lot of those numbers are not what they seem as they include payment for entire practices with multiple staff, kit, lab tests etc. The really serious money in US medicine is made in the fully private sector, not under medicare.

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Meanwhile the disillusioned members of HPC are queueing up for the Promised Land across the pond.....£4,000 per annum medicare, £4,000 per annum local taxation and the rest.

Some cheaper life, unless you are extremely profligate on discretionary spend.

Given that the UK spends £96Bn (http://www.england.nhs.uk/allocations-2013-14/) on the NHS which is provided by ~30M tax payers (http://www.hmrc.gov.uk/statistics/taxpayers/table1-4.pdf) is healthcare really any cheaper here ?

I'll grant you, it's probably fairer here, as the poorest won't pay £3k a head, but the NHS is far from free - and we can't choose not to pay for it even if we're lucky enough not to need its services.

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Meanwhile the disillusioned members of HPC are queueing up for the Promised Land across the pond.....£4,000 per annum medicare, £4,000 per annum local taxation and the rest.

Some cheaper life, unless you are extremely profligate on discretionary spend.

a) Most employers in America will pay for your medical insurance. Medicare is funded out of taxation, which is a lot lower than in the UK (see below)

B) Income taxation is far lower in America - while you do have both federal and state taxes, but these will only sum up to around 30% or so for a typical person making less than $150k. Compare to the UK where income taxation is 46% on people earning less than £45k, and 56% on those earning above

c) America lets people tax-deduct many of the things associated with living a normal productive life, while the UK tends to hit these people the hardest in order to fund the ever-growing underclass. For example, in America you can deduct the mortgage interest on your primary home from your tax bill, along with the cost of childcare. So most families are paying less than the headline rate of income tax due to deductions. In contrast, things like childcare in the UK are crippling for most middle class working families.

d) After you have been taxed 56% on your income in the UK, you now have a 20% sales tax on everything you buy on top of that. In most American states this is usually around 7% or so, which causes the price of goods to be most cheaper.

e) In most American states, $200k gets you a 2000 square foot 4 bedroom house in the suburbs. In the UK, you might get a 2 bed flat for that if you're lucky.

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a) Most employers in America will pay for your medical insurance. Medicare is funded out of taxation, which is a lot lower than in the UK (see below)

B) Income taxation is far lower in America - while you do have both federal and state taxes, but these will only sum up to around 30% or so for a typical person making less than $150k. Compare to the UK where income taxation is 46% on people earning less than £45k, and 56% on those earning above

c) America lets people tax-deduct many of the things associated with living a normal productive life, while the UK tends to hit these people the hardest in order to fund the ever-growing underclass. For example, in America you can deduct the mortgage interest on your primary home from your tax bill, along with the cost of childcare. So most families are paying less than the headline rate of income tax due to deductions. In contrast, things like childcare in the UK are crippling for most middle class working families.

d) After you have been taxed 56% on your income in the UK, you now have a 20% sales tax on everything you buy on top of that. In most American states this is usually around 7% or so, which causes the price of goods to be most cheaper.

e) In most American states, $200k gets you a 2000 square foot 4 bedroom house in the suburbs. In the UK, you might get a 2 bed flat for that if you're lucky.

Wouldn't help me, I'm self employed, so at 50 I would have to pay the £4,000 per annum insurance myself. In some States local taxation on property is 2% ( New Jersey for example). On our property that would equate to around £5,500 per annum.........we pay £1700 council tax.

Local taxation and medicare is more than I pay out for everything living here. If you are a mortgage free boomer the UK is the cheapest place to live in the world bar none because property taxes and health care are subsidised by the general taxation pool. If you are a high net worth individual with a low income you completely get away with it in this country. The whole system is tailored for wealthy boomers, period. But I am one of the few boomers who cares to admit it.

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Wouldn't help me, I'm self employed, so at 50 I would have to pay the £4,000 per annum insurance myself.

With Obamacare it's not as much as that. The national average seems to be about 305 per month for someone in the middle income bracket:

http://www.csmonitor.com/USA/DC-Decoder/2014/0328/Obamacare-deadline-101-How-much-will-enrolling-cost-me

In some States local taxation on property is 2% ( New Jersey for example). On our property that would equate to around £5,500 per annum.........we pay £1700 council tax.

It varies a lot but don't forget that the housing is generally a lot cheaper too. Also, there are states with little or no property tax to start with:

http://taxes.about.com/od/statetaxes/a/property-taxes-best-and-worst-states.htm

Local taxation and medicare is more than I pay out for everything living here.

Yes, but if you lived in a state with no income tax, then you'd have more money overall quite likely.

If you are a mortgage free boomer the UK is the cheapest place to live in the world bar none because property taxes and health care are subsidised by the general taxation pool.

There's plenty of other places where that's true. It's not so different in parts of Canada and in many parts of Europe for example.

If you are a high net worth individual with a low income you completely get away with it in this country. The whole system is tailored for wealthy boomers, period. But I am one of the few boomers who cares to admit it.

That's certainly true.

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