A Libertarian's No-Nonsense Health Care Reform Proposal
Effective immediately, all health care premiums will be 100% deductible from the Federal Income Tax.
Effective January 1, 2010, all earnings of health care doctors, nurses, and other licensed providers of medical services will be exempt from paying Federal Income Tax.
Effective immediately, all medical expenses currently allowed to be deducted from the Federal Income Tax (subject to the greater than 7.5% of income requirements) shall be 100% deductible from the Federal Income Tax.
Effective January 1, 2010, all for-profit hospitals shall have their corporate tax rates reduced to 0.
Effective January 1. 2010, those restriction on the sales of across the border health plans shall be prohibited under the Interstate Commerce Clause. If someone wishes to purchase health insurance out of state, they shall be allowed to do so without restriction, if it meets their needs.
What do the above proposals do?
Proposals 1,3 and 5 will reduce the cost of health care for all Americans immediately. Paying for premiums, procedures, and insurance with pre-tax dollars means that the dollars will go further when buying insurance and services. The ability to purchase health insurance from providers outside of your state market increases competition and provides consumers more choices.
Proposals 2 will increase the supply of doctor's, nurses and other medical professionals. If the current proposal was prepared to spend trillions of dollars, certainly forgoing billions in tax collections would be better for the Federal Deficit.
Proposal 4 will reduce the cost of opening new medical facilities for the treatment of patients. Consequently, more facilities open and competing for patients will drive down the costs for those patients in the long run.
If you increase supply, and give people greater purchasing power with their dollars, then supply and demand will adjust itself as needed as we move forward.
We already are facing a severe nursing shortage in many areas of the nation. Doctors near retirement are considering early retirement if the Obama Plan wins approval. We cannot afford to add 47 million to coverage and reduce the number of doctors.
Instead, we need to keep those doctors in the office for more patient visits, not fewer. And we need to give potential doctors a reason to enter the medical profession. What better motivation could one have then the ability to keep what you earn. This increase in supply will keep competition alive in the medical profession, and keep a check on costs. It's how free markets are meant to work.
At 147 words, the above proposals could change Health Care in America for the better forever.
What are your thoughts? Would a tax-free zone for medical care be a workable solution to the “crisis” we have been told we have? Let me know what you think. And if you agree, forward the proposal to your Congressman and Senators.Tweet