McCain on Banking and Health Care

Discussion in 'Politics, Religion, Social Issues' started by rdowns, Sep 20, 2008.

  1. rdowns macrumors Penryn

    rdowns

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    #1
    Link

    Yeah, that should work.
     
  2. leekohler macrumors G5

    leekohler

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    #2
    Good god! I guess we shouldn't be surprised. Will the government bail them out too?
     
  3. takao macrumors 68040

    takao

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    brahaha .. he simply can't be serious .. at least i hope so
     
  4. BoyBach macrumors 68040

    BoyBach

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    #4
    I'm waiting for the McCain campaign to spin this into something positive, probably involving his being a POW.
     
  5. jplan2008 macrumors regular

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    #5
    I'm not sure if this is the same article you refer to (your link was Pain in Spain), but there's a NYT article here saying just that.

    http://www.alternet.org/healthwellness/99239/mccain-palin_health_plan_relies_on_the_very_marketplace_strategy_that%27s_crippling_our_economy/

    McCain-Palin Health Plan Relies on the Very Marketplace Strategy That's Crippling Our Economy

    "A recent study from scholars at Columbia, Harvard, Purdue and Michigan projects that 20 million Americans who have employment-based health insurance would lose it under the McCain plan."
    ---
    According to the study: "The McCain plan will force millions of Americans into the weakest segment of the private insurance system -- the nongroup market -- where cost-sharing is high, covered services are limited and people will lose access to benefits they have now."
    ---
    The whole idea of the McCain plan is to get families out of employer-paid health coverage and into the health insurance marketplace, where naked competition is supposed to take care of all ills. (We're seeing in the Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers and Merrill Lynch fiascos just how well the unfettered marketplace has been working.)
    ---
    When younger, healthier workers start seeing additional taxes taken out of their paychecks, some (perhaps many) will opt out of the employer-based plans -- either to buy cheaper insurance on their own or to go without coverage.

    That will leave employers with a pool of older, less healthy workers to cover. That coverage will necessarily be more expensive, which will encourage more and more employers to give up on the idea of providing coverage at all.
     
  6. mactastic macrumors 68040

    mactastic

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    And these guys want to put Social Security in the same basket they say is doing so well for the banking industry.

    I wonder if Phil Graham told McCain to write that...
     
  7. rdowns thread starter macrumors Penryn

    rdowns

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    #7

    Sorry, I fixed the link.
     
  8. jplan2008 macrumors regular

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    #8
    Yeah, I don't have the link but someone from the press asked McCain about his plan and what would have happened with the big drop on Wall Street (before the promise of up to $1 trillion tax dollars boosted Wall St). He's saying it would be over a long period of 30-40 years (what about a crash when you're 71? You don't have any more time to make it up) , and now his spokespeople are saying it would be in conservative bonds.

    I love McCain saying "With the current system, TODAY's worker's pay the OLDER generation's benefits. That's just crazy." He seems shocked. That's the whole purpose of the system. I guess the idea that it's not your exact dollars is troublesome to him. I guess he thinks banks just put your money in a vault with your name on it. And he still doesn't understand the system -- he's talking about younger people opting out but it won't affect current retirees. If today's workers pay today's retirees, as he seemed so shocked to discover, how can today's workers opt out without affecting today's retirees?
     
  9. NT1440 macrumors G4

    NT1440

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    #9
    WTF is wrong with this guy? People can call obama an idealist, but McCain somehow thinks will actually work?

    Theres two things that would destroy this system of his:

    1. Market flucuations.

    2.Corrupt business practices.

    Both will never be under control.


    Then again he probably is thinking short term (seems like he always does) cuz HES personally never gonna have to worry about this kind of stuff.

    I've been trying hard not to have to make this statement but I honestly cannot hold off anymore.

    If John McCain becomes president, it will show once and for all that the american people are stupid sheep.
     
  10. mactastic macrumors 68040

    mactastic

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    But that goes against the whole principle of the freedom that investing your own retirement savings is predicated on. "You're free to put your investment money in bonds that barely pay more than inflation" isn't much of a choice.

    The conservative philosophy is based on the idea that the individual knows better than the government how to spend money. McCain is saying that the individual does not know best how to spend money if he's saying only conservative bonds would be an acceptable investment vehicle for his newest version of the "ownership society".
     
  11. jplan2008 macrumors regular

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    #11
    McCain says "In the long-term, the only way to keep the budget balanced is successful reform of the large spending pressures in Social Security, Medicare, and Medicaid."

    http://www.johnmccain.com/Issues/JobsforAmerica/reform.htm

    Except, the only two areas running in the black are social security, and the fund that incudes medicare. (I won't even bother looking up medcaid, I know it doesn't provide "large spending pressures" compared to other areas of the budget)

    See, for example: http://zfacts.com/p/461.html

    I had said from common senes that if you privatize social security, then current or near-future retirees won't have anything. Here's site showing that social security would go bankrupt in 2025 under McCain's plan, vs. 2042 as early date under current plan. http://zfacts.com/p/461.html

    Also, although the reserves would be gone in 2042 or later under current program with no adjustments, the amts coming in from then-current workers would cover 70-80% of the benefits for retirees. So, by doing absolutely nothing, retirees after 2042 would still receive up to 80% of their benefits. Under McCain's plan, the workers in 2025 would be opting out, so would probably pay a lower percentage. I'm not a huge fan of Obama's proposal of having wages between the current ceiling of 102,000 up to 250,000 not get taxed for social security, then a low amount above $250,000, but at least it would "save" social security without raising the tax for wages under the current cap, instead of truly killing social security under McCain's plan.
     
  12. Iscariot macrumors 68030

    Iscariot

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    #12
    Y'all are missing the genius of McCain's plan. Knowing full well nobody will approve universal health care, McCain is planning to allow the insurance companies own greed to bankrupt them, and then he'll bail them out with taxpayer's money, thereby socializing them! Nothing could possibly go wrong.
     
  13. leekohler macrumors G5

    leekohler

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    #13
    Haha! You are killing me today! That was brilliant! :D
     
  14. takao macrumors 68040

    takao

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    #14
    haha yeah i didn't thought about that for sure...
     

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