Sunday, January 22, 2012
Saturday, June 25, 2011
My Living Will
LIVING WILL JAMES D LYNCH
I, James Daniel Lynch] ("Declarant" herein), being of sound mind, and after careful consideration and thought, freely and intentionally make this revocable declaration to state that if I should become unable to make and communicate my own decisions on life sustaining or life support procedures, then my dying shall not be delayed, prolonged or extended artificially by medical science or life sustaining medical procedures, all according to the choices and decisions I have made and which are stated here in my Living Will.
It is my intent, hope and request that my instructions be honored and carried out by my physicians, family and friends, as my legal right.
As a Roman Catholic, I fervently believe that all humans will have a life after death. Furthermore, for those of us who approach the point that we are consuming more of the earthly riches and well being than what we are contributing, we should welcome the opportunity for a quick and inexpensive death. We should consider that perhaps an unconscious state that will result in pending death without expensive medical intervention might well be an invitation from our creator. Thus the final best lesson that can be taught to our offspring and other loved ones is the acceptance of this invitation.
Thus, if I am unable to make and communicate my own decisions regarding the use of medical life sustaining or life support systems and/or procedures, and if I have a sickness, illness, disease, injury or condition which has been diagnosed by a licensed medical doctors or physicians who has personally examined me, (or more than one (1) if required by applicable law), as being either (1) terminal or incurable certified to be terminal, or (2) a condition from which there is no reasonable hope of my recovery to a meaningful quality of life, which may reasonably be referred to as hopeless, although not necessarily "terminal" in the medical sense, or (3) has rendered me in a persistent vegetative state, or (4) a condition of extreme mental deterioration, or (5) permanently unconscious, then in the absence of my revoking this Living Will, all medical life sustaining or life support systems and procedures shall be withdrawn, unless I state otherwise in the following provisions.
Unless otherwise provided in this Living Will, nothing herein shall prohibit the administering of pain relieving drugs to me, or any other types of care purely for my comfort, even though such drugs or treatment may shorten my life, or be habit forming, or have other adverse side effects.
I am also stating the following additional instructions so that my Living Will is as clear as possible:
Resuscitation should never be administered even when I had been completely free of any disabilities other than age prior to the need for resuscitation.
Intravenous and Tube Feeding should only be given when I specifically ask for it.
Life Sustaining Surgery will only be requested by me if procedure cost less than my prior annual earned income and I am expected to be completely whole and independent of others.
New Medical Developments should only be used if cost is within limits in above paragraph and expectation the same.
Home is my preferred place for death if any of my family is available.
In the spring of 2011 I completed and submitted the paper work necessary tofir an Anatomical Donation of my body in the event od death. This is held by the Anatomical Board of Nebraska; however, should I die in another jurisdiction anywhere this donation can be executed by any willing local board that has same intent.
It is my intent to post this Living Will to my blog at www.jdl3705.blogspot.com for reference if ever needed.
In the event that any terms or provisions of my Living Will are not enforceable or are not valid under the laws of the state of my residence, or the laws of the state/province where I may be located at the time, then all other provisions which are enforceable or valid shall remain in full force and effect, and all terms and provisions herein are severable.
IN WITNESS WHEREOF, I have read and understand this Living Will, and I am freely and voluntarily signing it on this June 25, 2011 in the presence of witnesses.
Signed: James D Lynch
Street Address: 3705 S 112th Street County: _____Douglas_________________
City and State: Omaha Nebraska, 68144
Thursday, April 29, 2010
More on Immigration Reform
If you are like most Americans, when you fill your tank at a gas stations and pay with a credit card it only takes a few seconds for the card to be authorized and payment completed. Even while you are days away from your home a minimum additional input of your zip code can be quickly imputed to confirm a high probability that you indeed own the card submitted. This control feature is highly successfully administered by the private sector. So why couldn’t the same concept work in monitoring and controlling guest workers as well as all Americans with a tamper proof Identification card. It could be in the form of a temporary guest worker permit, Drivers license or social security card. The most important aspect would be that the data base that contains that digitized verification data would be under the control of a quaisi governmental or private entity and not the federal government. This to me would be the most important feature of an acceptable immigration reform bill.
The next crucial feature would require all currently undocumented workers to get in line in their respective countries of origin. The only ones who could get to the head of the line would be those who carry a letter confirming that they have work waiting for them by an employer who currently has work for them. Our State Department could set up in embassy offices (or outsource the function to private employment agencies) where the paper work could be completed in accordance to the reasonable regulations.
The third feature of a good bill will enable or empower the states with a roll as the States are the best judges of the needs for workers and they should be given the responsibility of setting the numbers of guest workers needed, Then they should also have the responsibility of tracking these guess workers and making sure they depart upon expiration of their guess worker permit. This would limit the guest worker to the state of sponsorship which could also accept transfers to another state wishing to accept him. The states should be compensated either directly by employers or a surcharge on the income tax or unemployment tax under their jurisdiction. (Let them decide).
Forth element is to have licensed bounty hunters who would be authorized by the US Marshall’s office with a capture fee. This fee would be a flat amount of $250 per head and $ 2.00 per hour for each conscription hours that an undocumented individual would be sentenced. The fine would be a minimum of six months hard labor with compensation paid that would equal the minimum wage of their country of origin. The states could assign these inmates to work for private entities at amounts above the wage set and conscription fee to recover their cost of providing room and board.
These four provisions abbreviated above do not address all the problems and injustices of our current immigration fiasco but are essential for creating a workable solution of an ever out of control problem.
The next crucial feature would require all currently undocumented workers to get in line in their respective countries of origin. The only ones who could get to the head of the line would be those who carry a letter confirming that they have work waiting for them by an employer who currently has work for them. Our State Department could set up in embassy offices (or outsource the function to private employment agencies) where the paper work could be completed in accordance to the reasonable regulations.
The third feature of a good bill will enable or empower the states with a roll as the States are the best judges of the needs for workers and they should be given the responsibility of setting the numbers of guest workers needed, Then they should also have the responsibility of tracking these guess workers and making sure they depart upon expiration of their guess worker permit. This would limit the guest worker to the state of sponsorship which could also accept transfers to another state wishing to accept him. The states should be compensated either directly by employers or a surcharge on the income tax or unemployment tax under their jurisdiction. (Let them decide).
Forth element is to have licensed bounty hunters who would be authorized by the US Marshall’s office with a capture fee. This fee would be a flat amount of $250 per head and $ 2.00 per hour for each conscription hours that an undocumented individual would be sentenced. The fine would be a minimum of six months hard labor with compensation paid that would equal the minimum wage of their country of origin. The states could assign these inmates to work for private entities at amounts above the wage set and conscription fee to recover their cost of providing room and board.
These four provisions abbreviated above do not address all the problems and injustices of our current immigration fiasco but are essential for creating a workable solution of an ever out of control problem.
Tuesday, March 23, 2010
Let The Second Revolution Begin
While the attorneys in our midst plan an attach over the “obamacare” fiasco using the courts as their weapon of choice. I am advocating herein a second alternative to turn the tide of galloping socialism. (Previously known as “creeping socialism”). Hopefully if either of these first two approaches works we will not have to use the ultimate tactic of civil armed revolution.
My suggestion is to use Uniform Legislation with the aim of starving the federal government. A good source for understanding this approach is the link below. http://www.law.cornell.edu/uniform/uniform.html
The legislation I suggest is already in a form that can be quickly modified to achieve our ends. It is known as HR 24 “The Fair Tax”. Once A state has adopted this legislation their citizens and any business entities profits within these borders would be exempt from federal income tax. The only two services that are needed from the federal government are National Defense and State Department activities. Both of these federal divisions could be funded on a per capita basis based upon a running five year average of the departments initionally. The federal debt likewise could be frozen and a per capita assessment would be assessed to liquidate. All federal properties within the borders would be turned over to the states for their respective management and use.
Each state could modify their tax rate and monthly prebates as their own social tendencies dictate. The people who reside within their borders will either collectively through the voting booths prevail with common sensical regulations and laws or with their feet find a state more in line with their beliefs and values.
I realize that the above idea will need a lot of scrutiny and enhancement. But I have confidence in my motto that “ideas beget better ideas” and perhaps someone who comes across this paper will take hold of this idea and run with it. I for one am tired of preaching my conservative message as I see only regressive declination in the younger generation that follows. I was blessed with an education that taught me how to think on my own and appreciate traditional values. Evidently the institutions of learning that shaped my consciousness have all choked on their own liberalism.
My suggestion is to use Uniform Legislation with the aim of starving the federal government. A good source for understanding this approach is the link below. http://www.law.cornell.edu/uniform/uniform.html
The legislation I suggest is already in a form that can be quickly modified to achieve our ends. It is known as HR 24 “The Fair Tax”. Once A state has adopted this legislation their citizens and any business entities profits within these borders would be exempt from federal income tax. The only two services that are needed from the federal government are National Defense and State Department activities. Both of these federal divisions could be funded on a per capita basis based upon a running five year average of the departments initionally. The federal debt likewise could be frozen and a per capita assessment would be assessed to liquidate. All federal properties within the borders would be turned over to the states for their respective management and use.
Each state could modify their tax rate and monthly prebates as their own social tendencies dictate. The people who reside within their borders will either collectively through the voting booths prevail with common sensical regulations and laws or with their feet find a state more in line with their beliefs and values.
I realize that the above idea will need a lot of scrutiny and enhancement. But I have confidence in my motto that “ideas beget better ideas” and perhaps someone who comes across this paper will take hold of this idea and run with it. I for one am tired of preaching my conservative message as I see only regressive declination in the younger generation that follows. I was blessed with an education that taught me how to think on my own and appreciate traditional values. Evidently the institutions of learning that shaped my consciousness have all choked on their own liberalism.
Sunday, January 31, 2010
Corporate Tax Reform
At the risk of sounding like a liberal, I am advocating a major overhaul of our corporate income tax system with some minor changes to our individual tax system. Recent history of corporate growth has demonstrated that failure of Corporations can have a devastating effect on all stakeholders, thus the notion of too big to fail. The solution I advocate is to encourage some of them not to exist.
The affairs of state should be financed by all and accordingly be borne proportionately to each entities means or abilities. Think of a small town or city living on a river bank when a devastating flood is imminent. Would you not expect every able body to help with a new dyke. Would not the 250 pound muscular football player be expected to fill more and bigger sandbags than the feeble elderly wheelchaired or infant child. This is why we have a progressive tax system and hopefully will remain so for some time as long as both sides of the equation are fair and not too cumbersome. Our income tax system has generally followed the simple formula of I x R = T (Income times Rate equals Tax). The clearest part of the formula for both Corporate and Individual tax is the Rate side and only requires a few pages in the tax code. The complex side is the “I” side. Volumes of codes are expended here and inconsistencies further included as the “soak the rich” crowd inflict their disdain for prosperity.
Currently, federal tax revenues come from Individuals about 79% Corporations 19% Estate taxes 1%. Within the 79% individual portion there is an undetermined percent attributable to sole proprietors and Subchapter S Corporations. I see no reason to change this overall distribution burden but we need some long term tinkering that would help economic growth and fairness. However, the current provisions for the alternative minimum tax for both corporations and individuals should be eliminated.
My Suggested Corporate Brackets
Bracket Over But not Over The Tax Is Of the Amount Over
1st $0 $500,000 5% $0
2nd $500,000 $5,000,000 $25,000 + 15% $500,000
3rd $5,000,000 $25,000,000 $700,000 + 25% $5,000,000
4th $25,000,000 $100,000,000 $5,700,000 + 40% $25,000,000
5th $100,000,000 $1,000,000,000 $35,700,000 + 55% $100,000,000
6th $1,000,000,000 $530,700,000 + 70% $1,000,000,000
Present Corporate tax brackets:
1st $0 $50,000 15% $0
2nd $50,000 $75,000 $7,500 + 25% $50,000
3rd $75,000 $100,000 $13,750 + 34% $75,000
4th $100,000 $335,000 $22,250 + 39% $100,000
5th $335,000 $10,000,000 $113,900 + 34% $335,000
6th $10,000,000 $15,000,000 $3,400,000 + 35% $10,000,000
7th $15,000,000 $18,333,333 $5,150,000 + 38% $15,000,000
8th $18,333,333 $6,416,667 + 35% $18,333,333
The proposed new definition of corporate taxable income would allow for the deduction of dividends paid to investors. At the same time all interest earned on federal securities would be exempt from taxation for all investors. This change would encourage a reasonable return of 2% +/- plus inflation rate on federal securities driven by a free market as opposed to an irrational discounted rate as is currently offered. Our debt would be less attracted to foreign investors who pay no taxes but this country should have the wealth to finance our own debt. Furthermore, the 70% exclusion of dividends should be ended except for wholly owned (or consolidated) corporations and those entities that required funded investments for ongoing long term liabilities or reserves for unearned premium and losses such as insurance companies or funded warranties. These changes would enable the dropping of the 35% excess accumulated earnings provision which is never enforced in the first place probably due to vast array of loopholes.
The proposed 4th through 6th brackets could be adjusted up or down once the Congressional Budget Office scores the over all impact on federal revenues The amounts within each bracket could be changed every 5th year based upon the cost of living index or inflation. If the above bracket system is adopted the following changes should occur as the business community understands the impact.
First, most Sub S corporations will elect (and should be allowed to immediately elect) to be treated as a regular (Chapter C) corporation.
Second most new jobs, innovation, research come from the small and medium size companies who are in the first four brackets, Generally the management in these companies understand their products, processes and service far better than the super large multinationals and can react to change much quicker as the latter group become too bureaucratic and as governmentally inflexible. Some of this group like GE liken themselves as partnering with the world governments. Business has to have confidence that reasonable regulations and tax policy will continue not only in the current administrations but beyond before committing to expand the workforce and to make capital commitments. When this confidence resumes in our capitalistic sector unemployment will shrink to the lowest level realistically expected.
Thirdly, the stockholders and directors will, see that spinoffs of unrelated activities is in the best interest of all stakeholders. Just as the breakup of AT&T resulted in many new successful enterprises even while letting the weakest new entities like Agere and Lucent fail, the results was an explosion of new consumer products and no bailouts or governmental recues were required.
Fourthly, corporate governance will start thinking long term again instead of quarterly results. Sadly, the powers that be in large corporations like GM convinced themselves that they could operate best by turning their workforce over to unions. Most successful new companies see the value of treating their employees well. They then try new approaches like automation first by studying the best practices of those like the Asian auto makers. They avoid unsound accounting practices like booking as an asset future tax savings from unrealistic operating loss carryovers. These companies do as little research as possible preferring to grab like vultures the assets of start up companies like Oni Medical Services, Inc (Maker of innovative MRI for extremities that will cost about 1/4th their own MRI). What is GE protecting? They surrender to political correctness as opposed to educating the public on products that will benefit society as a whole, while making big profits on both extremes (Wind and Nuclear energy)
Finally, companies like Berkshire Hathaway will on their own cease to exist. Mr. Buffet likes to stress that his secretary’s combined income and payroll tax rates is greater than his own. Indeed that is true, for his game through Berkshire is like a mutual fund that isn’t required to pass through to investors earnings and realized capital gains. His entity exist to accumulate wealth that will be passed on to the investor heirs or causes that they supports. Few jobs are created or consumer prices decline because of that kind of growth. Yes Berkshire does pay taxes about 29.7%, and his stockholders can use their investments with him as collateral for low interest loans if they have the need for leveraged funds. They do not pay taxes on Berkshire dividends as none are ever paid. The original founders of the small closely owned organizations like Nebraska Furniture Mart & Borsheims Jewlery will always be able to cash in by either going public or find other deep pockets willing to invest or even Employee Stock Ownership Plans (Peter Kiewit & Co) Burlington Railroad will not have to pay any dividends and I doubt if our nation will sees any reduction in fright cost due to this latest megapurchase.
The Estate and Inheritance taxes are about to expire in 2011. Some advocate that this tax should cease all together. I would prefer that it continue but with much higher exclusions for individual beneficiaries . Either index for inflation or using a multiple of 60 times the individual poverty level for each named beneficiary. Restricted Foundations should be limited to $10 Billion. Then the taxable estates should be taxed using the last three brackets of 40%, 55% and 70%. These funds would be ear marked to fund retired Medicare recipients who will need to be weaned from that ill begotten program and who start their own Medical Health Savings accounts by accepting 75% of average current Medicare Advantage plan contracted “subsidy”!.
On the individual side the same last three brackets should be applied to individuals whose income reached those levels. I am sure George Soros and his fellow hedging managers would not missed the tax or perhaps they would rather have the 91% bracket reinstated. Ownership of domestic corporations could be encouraged by allowing these savers to exclude dividends for the initial amount equal to the current poverty level.
The affairs of state should be financed by all and accordingly be borne proportionately to each entities means or abilities. Think of a small town or city living on a river bank when a devastating flood is imminent. Would you not expect every able body to help with a new dyke. Would not the 250 pound muscular football player be expected to fill more and bigger sandbags than the feeble elderly wheelchaired or infant child. This is why we have a progressive tax system and hopefully will remain so for some time as long as both sides of the equation are fair and not too cumbersome. Our income tax system has generally followed the simple formula of I x R = T (Income times Rate equals Tax). The clearest part of the formula for both Corporate and Individual tax is the Rate side and only requires a few pages in the tax code. The complex side is the “I” side. Volumes of codes are expended here and inconsistencies further included as the “soak the rich” crowd inflict their disdain for prosperity.
Currently, federal tax revenues come from Individuals about 79% Corporations 19% Estate taxes 1%. Within the 79% individual portion there is an undetermined percent attributable to sole proprietors and Subchapter S Corporations. I see no reason to change this overall distribution burden but we need some long term tinkering that would help economic growth and fairness. However, the current provisions for the alternative minimum tax for both corporations and individuals should be eliminated.
My Suggested Corporate Brackets
Bracket Over But not Over The Tax Is Of the Amount Over
1st $0 $500,000 5% $0
2nd $500,000 $5,000,000 $25,000 + 15% $500,000
3rd $5,000,000 $25,000,000 $700,000 + 25% $5,000,000
4th $25,000,000 $100,000,000 $5,700,000 + 40% $25,000,000
5th $100,000,000 $1,000,000,000 $35,700,000 + 55% $100,000,000
6th $1,000,000,000 $530,700,000 + 70% $1,000,000,000
Present Corporate tax brackets:
1st $0 $50,000 15% $0
2nd $50,000 $75,000 $7,500 + 25% $50,000
3rd $75,000 $100,000 $13,750 + 34% $75,000
4th $100,000 $335,000 $22,250 + 39% $100,000
5th $335,000 $10,000,000 $113,900 + 34% $335,000
6th $10,000,000 $15,000,000 $3,400,000 + 35% $10,000,000
7th $15,000,000 $18,333,333 $5,150,000 + 38% $15,000,000
8th $18,333,333 $6,416,667 + 35% $18,333,333
The proposed new definition of corporate taxable income would allow for the deduction of dividends paid to investors. At the same time all interest earned on federal securities would be exempt from taxation for all investors. This change would encourage a reasonable return of 2% +/- plus inflation rate on federal securities driven by a free market as opposed to an irrational discounted rate as is currently offered. Our debt would be less attracted to foreign investors who pay no taxes but this country should have the wealth to finance our own debt. Furthermore, the 70% exclusion of dividends should be ended except for wholly owned (or consolidated) corporations and those entities that required funded investments for ongoing long term liabilities or reserves for unearned premium and losses such as insurance companies or funded warranties. These changes would enable the dropping of the 35% excess accumulated earnings provision which is never enforced in the first place probably due to vast array of loopholes.
The proposed 4th through 6th brackets could be adjusted up or down once the Congressional Budget Office scores the over all impact on federal revenues The amounts within each bracket could be changed every 5th year based upon the cost of living index or inflation. If the above bracket system is adopted the following changes should occur as the business community understands the impact.
First, most Sub S corporations will elect (and should be allowed to immediately elect) to be treated as a regular (Chapter C) corporation.
Second most new jobs, innovation, research come from the small and medium size companies who are in the first four brackets, Generally the management in these companies understand their products, processes and service far better than the super large multinationals and can react to change much quicker as the latter group become too bureaucratic and as governmentally inflexible. Some of this group like GE liken themselves as partnering with the world governments. Business has to have confidence that reasonable regulations and tax policy will continue not only in the current administrations but beyond before committing to expand the workforce and to make capital commitments. When this confidence resumes in our capitalistic sector unemployment will shrink to the lowest level realistically expected.
Thirdly, the stockholders and directors will, see that spinoffs of unrelated activities is in the best interest of all stakeholders. Just as the breakup of AT&T resulted in many new successful enterprises even while letting the weakest new entities like Agere and Lucent fail, the results was an explosion of new consumer products and no bailouts or governmental recues were required.
Fourthly, corporate governance will start thinking long term again instead of quarterly results. Sadly, the powers that be in large corporations like GM convinced themselves that they could operate best by turning their workforce over to unions. Most successful new companies see the value of treating their employees well. They then try new approaches like automation first by studying the best practices of those like the Asian auto makers. They avoid unsound accounting practices like booking as an asset future tax savings from unrealistic operating loss carryovers. These companies do as little research as possible preferring to grab like vultures the assets of start up companies like Oni Medical Services, Inc (Maker of innovative MRI for extremities that will cost about 1/4th their own MRI). What is GE protecting? They surrender to political correctness as opposed to educating the public on products that will benefit society as a whole, while making big profits on both extremes (Wind and Nuclear energy)
Finally, companies like Berkshire Hathaway will on their own cease to exist. Mr. Buffet likes to stress that his secretary’s combined income and payroll tax rates is greater than his own. Indeed that is true, for his game through Berkshire is like a mutual fund that isn’t required to pass through to investors earnings and realized capital gains. His entity exist to accumulate wealth that will be passed on to the investor heirs or causes that they supports. Few jobs are created or consumer prices decline because of that kind of growth. Yes Berkshire does pay taxes about 29.7%, and his stockholders can use their investments with him as collateral for low interest loans if they have the need for leveraged funds. They do not pay taxes on Berkshire dividends as none are ever paid. The original founders of the small closely owned organizations like Nebraska Furniture Mart & Borsheims Jewlery will always be able to cash in by either going public or find other deep pockets willing to invest or even Employee Stock Ownership Plans (Peter Kiewit & Co) Burlington Railroad will not have to pay any dividends and I doubt if our nation will sees any reduction in fright cost due to this latest megapurchase.
The Estate and Inheritance taxes are about to expire in 2011. Some advocate that this tax should cease all together. I would prefer that it continue but with much higher exclusions for individual beneficiaries . Either index for inflation or using a multiple of 60 times the individual poverty level for each named beneficiary. Restricted Foundations should be limited to $10 Billion. Then the taxable estates should be taxed using the last three brackets of 40%, 55% and 70%. These funds would be ear marked to fund retired Medicare recipients who will need to be weaned from that ill begotten program and who start their own Medical Health Savings accounts by accepting 75% of average current Medicare Advantage plan contracted “subsidy”!.
On the individual side the same last three brackets should be applied to individuals whose income reached those levels. I am sure George Soros and his fellow hedging managers would not missed the tax or perhaps they would rather have the 91% bracket reinstated. Ownership of domestic corporations could be encouraged by allowing these savers to exclude dividends for the initial amount equal to the current poverty level.
Thursday, December 24, 2009
Is A tax Revolt Forthcoming?
I wonder what would happen, if all taxpayers file their own tax returns reporting all income as usual but include a new or additional form. This form would be a Schedule C showing business income or loss. However, the net would be a loss sufficently large enough to bring taxable income to ZERO! One might call his new company “Geitner Insolvency Group” Business Code 523900, He might be tempted to show income of Zero but deduct as taxes all taxes he paid or had withheld for the year. Then he might deduct as a Bad Debt all Social Security taxes he had paid in since he started working as an other deduction. (At the rate the socialist are going anyone under 55 mostlikely will never collect what was taken from them) I as a tax professional would never suggest this tactic to any of my clients , but I see how anyone who files their own tax return using the free e-file tax section of WWW.IRS.Gov might be tempted to do in that way. If one was so brazen as to try this they might also be smart enough to deposit those funds in a special account and have ready to access if feds storm in!>
The Change That Destroyed America
In four years from now, the Healthcare legislation that was passed by our legislators was like a patient getting a flue shot for H1N1 and pleased that he didn't become ill. However in 2013 he discovers that the shot was laced with the Ebola virus that gave him a cruel and agonizing death. The patient however was the USA whose electorate bought into an idiotic message of change.
The Only Way to have a Just Public Option
If indeed this country can not deliver a good health system without involvement of insurance let’s broaden the options to include not only private insurance companies and the so called public option but a private option as well. This private option would be self insurance or funded Health Savings Accounts (HSA) that could buy high deductible Catastrophe Insurance with tax treatment compared to the so called Cadillac plans. This feature should soften the objection of the libertarians who opposed mandated purchase. Low income people who elect to have the private option could be granted health stamps to fund their HSA’s.
Then, continue the states authority to monitor all health insurance sold or issued in their respective jurisdictions. Continue the states obligation to see that all insurance companies issue policies that have a fair and adequate premium (this will include any public option) as well as have the financial strengths to pay all current and future claims arising out of current claims and newly discovered catastrophic conditions. This would also apply to any federal plans or their sponsored co-ops or other schemes. The states already through their respective insurance departments have the infrastructure necessary to regulate this system thus the time frame could be moved up to 2011 the same year when all new taxes and fees begin.
Individual risk that our deemed to be so adverse that no premium is adequate could be pooled and assigned to carriers. The assignment similar to auto assigned risk would be based upon each insurer’s prior three year average premium written in the particular state and further factored based upon the quintiles of profitability. These quintiles would be assigned a number of zero through four with zero the least profitable to four the most profitable. To determine profitability 100% minus the loss ratio (claims incurred divided by premiums earned) minus .12 for overhead(12% of premium maximum standard for all) would equal percent of earnings of 3%. Note, income taxes would not enter into the profitability equations as all health Insurance carriers should be exempt from income tax just as the public option schemes would be. The 12% allowance for administrative cost should be adequate to cover reasonable expenses and motivate efficiencies and innovation. The loss ratios which state insurance examiners will verify every three years will hold steady at 85%+/- if the growth in utilization and hypochondrias holds at current rate which is highly unlikely. In the event that this country’s health care cost as a percent of the Gross National Product does not decrease by two percent by the tenth year of this law then all health insurance programs (including Medicare) except HSA’s should be terminated and a direct repayment of Medicare tax to all wage earners who have paid into the Medicare trust fund.
Then, continue the states authority to monitor all health insurance sold or issued in their respective jurisdictions. Continue the states obligation to see that all insurance companies issue policies that have a fair and adequate premium (this will include any public option) as well as have the financial strengths to pay all current and future claims arising out of current claims and newly discovered catastrophic conditions. This would also apply to any federal plans or their sponsored co-ops or other schemes. The states already through their respective insurance departments have the infrastructure necessary to regulate this system thus the time frame could be moved up to 2011 the same year when all new taxes and fees begin.
Individual risk that our deemed to be so adverse that no premium is adequate could be pooled and assigned to carriers. The assignment similar to auto assigned risk would be based upon each insurer’s prior three year average premium written in the particular state and further factored based upon the quintiles of profitability. These quintiles would be assigned a number of zero through four with zero the least profitable to four the most profitable. To determine profitability 100% minus the loss ratio (claims incurred divided by premiums earned) minus .12 for overhead(12% of premium maximum standard for all) would equal percent of earnings of 3%. Note, income taxes would not enter into the profitability equations as all health Insurance carriers should be exempt from income tax just as the public option schemes would be. The 12% allowance for administrative cost should be adequate to cover reasonable expenses and motivate efficiencies and innovation. The loss ratios which state insurance examiners will verify every three years will hold steady at 85%+/- if the growth in utilization and hypochondrias holds at current rate which is highly unlikely. In the event that this country’s health care cost as a percent of the Gross National Product does not decrease by two percent by the tenth year of this law then all health insurance programs (including Medicare) except HSA’s should be terminated and a direct repayment of Medicare tax to all wage earners who have paid into the Medicare trust fund.
Saturday, November 28, 2009
First State Diner
Everyone one, especially the media, is all in a dither about Michaele and Tareq Salahi successful crashing the White House first state dinner. Does not their outwitting the Secret Service pale in comparison to the couple who fooled the American Electorate with the help of the blind media?. Michaele and Barak Obama will stay for four years not just one evening dinner! Now that is what’s outrageous!
Wednesday, November 11, 2009
Yesterday, home of the free and the brave: Tomorrow, home of the wheeps and the slave!
http://en.wikipedia.org/wiki/Yucca_Mountain_nuclear_waste_repository
For anyone who has an ounce of faith in developing technology and reducing reliance on foreign oil to avoid the pending global climate change illusion, I suggest that you become familiar with the Yucca Mountain project. (see link above) Then ask yourself, do we really want to become a third world nation? What will it take to open the eyes of the masses as to where the current administration is trying to take us?
For anyone who has an ounce of faith in developing technology and reducing reliance on foreign oil to avoid the pending global climate change illusion, I suggest that you become familiar with the Yucca Mountain project. (see link above) Then ask yourself, do we really want to become a third world nation? What will it take to open the eyes of the masses as to where the current administration is trying to take us?
Tuesday, November 10, 2009
Some Thoughts About Insurance Options!
If indeed this country can not deliver a good health system without involvement of insurance let’s broaden the options to include not only private insurance companies and the so called public option but a private option as well. This private option would be self insurance or funded Health Savings Accounts (HSA) that could buy high deductible Catastrophe Insurance with tax treatment compared to the so called Cadillac plans. This feature should soften the objection of the libertarians who opposed mandated purchase. Low income people who elect to have the private option could be granted health stamps to fund their HSA’s.
Then, continue the states authority to monitor all health insurance sold or issued in their respective jurisdictions. Continue the states obligation to see that all insurance companies issue policies that have a fair and adequate premium (this will include any public option) as well as have the financial strengths to pay all current and future claims arising out of current claims and newly discovered catastrophic conditions. This would also apply to any federal plans or their sponsored co-ops or other schemes.
Individual risk that our deemed to be so adverse that no premium is adequate could be pooled and assigned to carriers. The assignment similar to auto assigned risk would be based upon each insurer’s prior three year average premium written in the particular state and further factored based upon the quintiles of profitability. These quintiles would be assigned a number of zero through four with zero the least profitable to four the most profitable. To determine profitability 100% minus the loss ratio (claims incurred divided by premiums earned) minus .12 (12% of premium standard for all) would equal percent of earnings. Note, income taxes would not enter into the profitability equations as all health Insurance carriers should be exempt from income tax just as the public option schemes would be. The 12% allowance for administrative cost should be adequate to cover reasonable expenses and motivate efficiencies and innovation. The loss ratios which state insurance examiners will verify every three years will hold steady at 85%+/- if the growth in utilization and hypochondrias holds at current rate which is highly unlikely.
In the event that this country’s health care cost as a percent of the Gross National Product does not decrease by two percent by the tenth year of this law then all health insurance programs except HSA’s should be terminated and a direct repayment of Medicare tax to all wage earners who have paid into the Medicare trust fund.
Then, continue the states authority to monitor all health insurance sold or issued in their respective jurisdictions. Continue the states obligation to see that all insurance companies issue policies that have a fair and adequate premium (this will include any public option) as well as have the financial strengths to pay all current and future claims arising out of current claims and newly discovered catastrophic conditions. This would also apply to any federal plans or their sponsored co-ops or other schemes.
Individual risk that our deemed to be so adverse that no premium is adequate could be pooled and assigned to carriers. The assignment similar to auto assigned risk would be based upon each insurer’s prior three year average premium written in the particular state and further factored based upon the quintiles of profitability. These quintiles would be assigned a number of zero through four with zero the least profitable to four the most profitable. To determine profitability 100% minus the loss ratio (claims incurred divided by premiums earned) minus .12 (12% of premium standard for all) would equal percent of earnings. Note, income taxes would not enter into the profitability equations as all health Insurance carriers should be exempt from income tax just as the public option schemes would be. The 12% allowance for administrative cost should be adequate to cover reasonable expenses and motivate efficiencies and innovation. The loss ratios which state insurance examiners will verify every three years will hold steady at 85%+/- if the growth in utilization and hypochondrias holds at current rate which is highly unlikely.
In the event that this country’s health care cost as a percent of the Gross National Product does not decrease by two percent by the tenth year of this law then all health insurance programs except HSA’s should be terminated and a direct repayment of Medicare tax to all wage earners who have paid into the Medicare trust fund.
Wednesday, November 4, 2009
Medicare(less)
The current healthcare bills offered in the house and senate appears DOA (dead on arrival) and should go away. However, the current bill foes not only are failing to offer a package that addresses the cause for out of control escalating healthcare cost, they are insulting the intelligence of the seniors of this country with adds that imply they we are entitled to the current Medicare system and thus should not be touched. WRONG! It is our age group that voted in the FDR “new dealers” and the LBJ ‘great society” Medicare program without regard for actuarial funding. Now we expect our offspring to pay the bill; how selfish indeed!
I am sickened while listening to many of my fellow old age coots who sit around comparing their aches and pains and anticipate their next visit to the doctors as the highlight of their dull existence. They should be instead educating their offspring and harping how our generation lost its greatness by surrendering our independence for entitlement. Our age group on average incur five times more resources than the youngest tier, Yes, we allowed our politicians to fool us into thinking our healthcare needs would be funded by inadequate payroll tax. But at some point we as a group need to bite the bullet and act like grownups!
I am sickened while listening to many of my fellow old age coots who sit around comparing their aches and pains and anticipate their next visit to the doctors as the highlight of their dull existence. They should be instead educating their offspring and harping how our generation lost its greatness by surrendering our independence for entitlement. Our age group on average incur five times more resources than the youngest tier, Yes, we allowed our politicians to fool us into thinking our healthcare needs would be funded by inadequate payroll tax. But at some point we as a group need to bite the bullet and act like grownups!
Saturday, October 17, 2009
Friday, October 16, 2009
Hubble Spacecraft & Healthcare
The other night I watch a program on PBS about the rejuvenation and fix of the Hubble Telescope. What an inspiration this success story portrayed of what we can accomplish in this country when the right minds are directed to the task. Contrast that to the feeble attempts our politicians are trying to accomplish on health care.
We should demand that are congress empower some commission to apply the fix that health care needs. We all know that the cost of health care is increasing and out of control. This cost escalation as a percentage of our Gross National Product can like the Hubble be fixed and decreased. Once it is controlled we can export this service through out the world. But it cannot be done by the lobbyist and politicians as they will only make it worse.
So let’s appoint a group of experts with diversified backgrounds in economics, healthcare, computer services, and any other related field who share a vision for improvement in the delivery system at less cost. I would think a group of 15 +/- individuals could adopt a plan of action that could be written up in legislative form in no more than 20,000 words or about 50 pages. There task should be expected to be concluded in six months and have an 80% consensus on the recommended plan of action. The membership of this committee should swear to be free from any lobbyist and supportive of our free historical democratic republic and not looking to run for any public office or expect any public appointment. In other words, be a competent true American. Our healthcare system can be fixed and be the “Hubble” of the world.
We should demand that are congress empower some commission to apply the fix that health care needs. We all know that the cost of health care is increasing and out of control. This cost escalation as a percentage of our Gross National Product can like the Hubble be fixed and decreased. Once it is controlled we can export this service through out the world. But it cannot be done by the lobbyist and politicians as they will only make it worse.
So let’s appoint a group of experts with diversified backgrounds in economics, healthcare, computer services, and any other related field who share a vision for improvement in the delivery system at less cost. I would think a group of 15 +/- individuals could adopt a plan of action that could be written up in legislative form in no more than 20,000 words or about 50 pages. There task should be expected to be concluded in six months and have an 80% consensus on the recommended plan of action. The membership of this committee should swear to be free from any lobbyist and supportive of our free historical democratic republic and not looking to run for any public office or expect any public appointment. In other words, be a competent true American. Our healthcare system can be fixed and be the “Hubble” of the world.
Saturday, September 26, 2009
ACORN Housing Corporation Statistics
AHC Stats 1986-2006
Clients counseled
250,226
Mortgages created
79,539
Mortgage Amount
$10,080,912,633
Clients educated
284,758
29 offices nationwide
The information above was copied off ACORN Housing Corporation website. Note the average mortgage $126,742
For the 21 year period from the 29 offices. That computes to nearly 11 loans per month assuming all 29 offices were operational over that period of time. But notice In that same period they also educated 284, 758 and counseled 250, 226.
I sure would like to know what percent of these loans were forfeited or renegotiated. Also, prudence would dictate that
the principal breadwinner of each home should have an income equal to or more than 1/3rd of the amount borrowed.
It would be interesting to see how close the actual number was.
http://www.acornhousing.org/index.php
Clients counseled
250,226
Mortgages created
79,539
Mortgage Amount
$10,080,912,633
Clients educated
284,758
29 offices nationwide
The information above was copied off ACORN Housing Corporation website. Note the average mortgage $126,742
For the 21 year period from the 29 offices. That computes to nearly 11 loans per month assuming all 29 offices were operational over that period of time. But notice In that same period they also educated 284, 758 and counseled 250, 226.
I sure would like to know what percent of these loans were forfeited or renegotiated. Also, prudence would dictate that
the principal breadwinner of each home should have an income equal to or more than 1/3rd of the amount borrowed.
It would be interesting to see how close the actual number was.
http://www.acornhousing.org/index.php
Obama Health Insurance Reform?!
So the Obama administration does not want insurance companies who offer the only worthwhile Medicare program available (Advantage Plans) to express their disagreements concerning their omniscient health plan. Good, I too would just as soon see all health insurance (including governmental) abolished. The solution is simple: Health Savings Accounts (HSA’s). Then honor the contractual obligation the Government forced upon the citizens since 1966 & remit 80% of the so-called “subsidy” now paid the Advantage Plans to seniors who elect to be self-insured.
Let me and my doctor decide how to spend my HSA, and allow me to give funds out of my HSA to others for their medical needs and ultimately pass on this HSA to my heirs. I can join with other like HSA members to form an Alliance whose dual purpose will be to gather electronic historical medical information and encourage health providers to publish their fee structure and discounts.
This approach will let the government concentrate on only those concerns we expect of them as outlined in our constitution.
Let me and my doctor decide how to spend my HSA, and allow me to give funds out of my HSA to others for their medical needs and ultimately pass on this HSA to my heirs. I can join with other like HSA members to form an Alliance whose dual purpose will be to gather electronic historical medical information and encourage health providers to publish their fee structure and discounts.
This approach will let the government concentrate on only those concerns we expect of them as outlined in our constitution.
Wednesday, September 23, 2009
Tax Exempt Organization
Tax Exempt Foundations:
http://www.irs.gov/instructions/i1023/ar01.html
If you click on the above link and scroll down half way on the page, you will see the QUALIFICATIONS of a Section 501 ( C ) (3) Organization. It should be clear that for years now the IRS, probably with congressional restraint, has been turning their heads when it comes to Organizations such as Acorn, NEA et al whose mission is to destroy our freedom loving capitalistic society. Maybe we should call or write to our representatives and ask them to review all these organizations with assets greater than $100,000. An annual pamphlet listing these organizations should be published for dissemination to a vigilant public upon asking for same.
http://www.irs.gov/instructions/i1023/ar01.html
If you click on the above link and scroll down half way on the page, you will see the QUALIFICATIONS of a Section 501 ( C ) (3) Organization. It should be clear that for years now the IRS, probably with congressional restraint, has been turning their heads when it comes to Organizations such as Acorn, NEA et al whose mission is to destroy our freedom loving capitalistic society. Maybe we should call or write to our representatives and ask them to review all these organizations with assets greater than $100,000. An annual pamphlet listing these organizations should be published for dissemination to a vigilant public upon asking for same.
Wednesday, September 16, 2009
The Wrong Train Ride
Let’s assume you have been offered a great job in Chicago, but as you hate to fly you decide to take the train to move to your new location. Down to the depot you go, hop on the train which immediately takes off and you settle down in a window seat to view the scenery. Suddenly you realize that the train is headed west to California. Now is the time for decision and action. THE BIG QUESTION... When are you going to get off this train?
Well, fellow Americans, you got on the wrong train back in 1965 when Medicare was adopted, now the politician-porters are trying to convince you that you’ll enjoy for ever the fairyland in the horizon. Since you didn’t do your homework then you have just enough time to get a dose of reality by reading a paper by Steven Hayward and Erik Peterson “ The Medicare Monster” January 1993 Reason Magazine www.reason.com/news/show/29339.html . See how the good intentions then led congress to believe that Medicare deficit would only be $12 billion by 1990 adjusted for inflation but actually became $107 billion.
Now, the new senate plan is only projected to be $880 billion. Get off your duff and off this train: go to the exit door now for the next stop, and do us all a favor and throw out the window immediately any politicians you see on your way!
Well, fellow Americans, you got on the wrong train back in 1965 when Medicare was adopted, now the politician-porters are trying to convince you that you’ll enjoy for ever the fairyland in the horizon. Since you didn’t do your homework then you have just enough time to get a dose of reality by reading a paper by Steven Hayward and Erik Peterson “ The Medicare Monster” January 1993 Reason Magazine www.reason.com/news/show/29339.html . See how the good intentions then led congress to believe that Medicare deficit would only be $12 billion by 1990 adjusted for inflation but actually became $107 billion.
Now, the new senate plan is only projected to be $880 billion. Get off your duff and off this train: go to the exit door now for the next stop, and do us all a favor and throw out the window immediately any politicians you see on your way!
Wednesday, August 26, 2009
A Senior's Take On Medicare
As a seventy-one year old retiree I believe Medicare as we know it today should be phased out. The total that each individual has thus far contributed has been tracked by the social security administration. These funds with no allowed accrued interest should be considered vested at various rates based upon age. The government should issue zero coupon bonds which would mature at age 65 to all individuals who choose to have an MSA. Vested percentages would start at age 25 at 3% increasing proportionately to 75% by age 50. Those individuals over 50 at the time of inception of this plan would have the option to receive Medicare benefits at age 65 at today’s rate with no future cola allowances. Current recipients now receiving Medicare could be phase out as they reach room temperature.
The only feature under the current Medicare model that is worthwhile is the Advantage plans where by some insurance companies assume the contractual liability for workers Payroll taxes that have been incurred for Medicare since 1965. Current retirees on these plans should be allowed to redirect 80% of this premium (No Obama, it’s not a subsidy) to their own Health Savings Accounts. This feature alone could save $17 billion dollars a year.
The only feature under the current Medicare model that is worthwhile is the Advantage plans where by some insurance companies assume the contractual liability for workers Payroll taxes that have been incurred for Medicare since 1965. Current retirees on these plans should be allowed to redirect 80% of this premium (No Obama, it’s not a subsidy) to their own Health Savings Accounts. This feature alone could save $17 billion dollars a year.
Tuesday, August 18, 2009
Is Common Sense Dead
Yesterday, I finally got up the energy and determination to get my tri-annual check up with Dr O’Bama (he’s 1/8th Irish). The good doctor told me that I was grossly overweight, sluggish and immobile and a victim of that evil profit making fast food industry. His prognosis was either liposuction or a visit to his associate Dr Kervokian down the hall. I was not comfortable with his assessment and decided to get a second opinion. I decided to see Dr Du Quack whom my eccentric neighbor assured me he would look at more than my symptoms and get at the cause of my problem. Whoa, after a brief review of my background and daily routine he told me that if I followed a recommended diet and start an exercise program I could slowly regain my youthful physique. The cause of my health problems was my own overeating. Then he said that you did not just get in your condition overnight you’ll need to get back where you should be with a slow and methodical approach.
Signed’
Americus Commonie Sensical.
Signed’
Americus Commonie Sensical.
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