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October 16, 2011

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Danube of Thought

What would Ms. Gross recommend?

jimmyk

Per this study, which looked at tax returns from 1999 to 2007, roughly 50% of "millionaires" reported income in excess of $1 million just once in that nine year period.

If we're not going to get back to the relatively flat tax we had after the '86 reforms, we should bring back income averaging. That would presumably eliminate a lot of these cases.

The NYT also ignores the fact that people have already paid taxes on the income that they saved and invested, plus the small point that maybe tax policy was designed not to penalize investment. Whatever.

Forbes

Don't know about some of the claims in the article. My sister in law, permanently disabled with MS, got a gov't paid ($20,000+) motorized wheelchair. Can't say I know the ins and outs of these programs, as they are complex and confusing, but there it is.

Uncle BigBad

Maybe Jane Gross would like for Medicare to trade "heroic procedures" for reimbursement for assisted living and nursing homes. Medicare will not pay for both any time soon.

I know, when the time comes, I want to be placed in a $14,000 per month facility, and I want somebody else to pay for it.

MarkO

Had it been Obama's grandmother, she should simply have died and saved eveyone money. You know, no matter what else we have learned about him, he is a heartless bastard.

Rick Ballard

"Whatever."

Precisely. A compilation of the current trend of propaganda in the NYT would justifiably merit the title of An Ode to Stupidity. It's not just Ms. Gross whining about being suckered into paying $14K per month and thereby blowing more than half the $500K total she claims spent. That's just a Death of CLASS piece), it's also Elizabeth Rosenthal decrying the Death of the Skydragon (that's the CO2 Monster's real name) plus a heartfelt whinge on the high cost of living in a Deep Blue Cesspool.

Whatever squared.

maryrose

How about taking care of MS Gross's mother at home? We did that with both my mother and m-i-l.

~FR

Why not lower the tax rate of Mr. Buffet's secretary? She is more likely to spend the extra money, thus helping the economy.

Or would that threaten the socialist-welfare programs...

Sara (Pal2Pal)

Maryrose:

The point is that Medicare will pay for expensive out of home stranger care, nursing homes, etc., but won't budge a dime if you try to save the gov't money and take care of a loved one at home.

I didn't pay out $14,000 mo to have her at home, but over 6 years, it did cost me personally all my own savings and all of hers plus when she died, I had 10s of thousands of dollars of medically-related, care-related bills to pay off. Most of that would have been covered in a hell-hole in-patient facility.

Forbes: Don't let Stephanie know about your sister's electric wheelchair, paid for by the gov't, as she is convinced that only loser weasels are gaming the system with the electric wheelchair scam.

Trying to avoid gov't care with someone who needs 24/7 care is stacked against you from the git go. They get you coming and going as you not only assume the costs that Medicare would cover with stranger care, but the caretaker takes a bath too if she/he cannot work outside the home and still do the caretaking necessary so not only do you not have a paycheck, but you lose all those quarters toward your own retirement. And then when you do return to work, you are expected to justify why you have a multi-year gap on your resume where you just sat at home being a couch potato, with no credit for the skills you used or learned as a result. I felt like I earned a degree in elder care by the time my Mother died. The problem, at least for me, was that once you've done it once, you never ever want to do it again. I know I must have been running on adrenaline during the time I cared for her, because after she died, I was wiped out, completely mentally and physically exhausted, all I wanted was to sleep (without hearing my name being yelled 8 to 10 times a night) for a year.

Neo

The way to game the Medicare system is to keep having surgeries every 90 days, then the 90 day rehabilitation period is covered. Repeat every 90 days to keep Medicare on the hook.

Freddie Sykes

There are three major forms of investment income: interest, dividend and capital gains.

Dividends get special treatment because they are doubly taxed. I would change this by making dividends tax deductible to corporations but taxed as ordinary income.

Tax revenues from capital gains are somewhat offset by tax deductions for losses especially in a bad economy. This make no sense: we punish those who increase the wealth of our country and reward those who decrease it. Phase out capital gain taxes and eliminated the subsidy for losers.

Tully

Sara, been there done that, and I never ever want to do it again. Sympathies.

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