10 Reasons Why America Needs a Social Innovation Revolution
You’re paying far too much for healthcare
U.S. spends 18% of its GDP, nearly $4 trillion, on healthcare. By comparison, Canada, Germany, Australia, the U.K., Japan, Sweden, France, the Netherlands, Switzerland, Denmark, and the U.S., on average only spend 12%.
The reasons are many, see articles below for more perspective:
Reuters (29-Jun-19): American caravan arrives in Canadian ‘birthplace of insulin’ for cheaper medicine
Healthcare Dive (29-May-19): US healthcare spending estimated to grow to $3.6T this year
N.Y. Times (10-May-19): Many Americans Will Need Long-Term Care. Most Won’t be Able to Afford It
N.Y. Times (09-May-19): Many Hospitals Charge Double or Even Triple What Medicare Would Pay
N.Y. Times (02-Apr-19): Americans Borrowed $88 Billion to Pay for Health Care Last Year, Survey Finds
CNBC (22-Mar-18): Here’s the real reason health care costs so much more in the US
Washington Post (13-Mar-18): The real reason the U.S. spends twice as much on health care as other wealthy countries
Harvard Gazette (13-Mar-18): US pays more free health care with worse population health outcomes
Washington Post (23-Jul-13): The royal birth cost $15,000. The average American birth is billed at $30,000.
N.Y. Times (16-May-13): New Jersey Hospital Has Highest Billing Rates in the Nation
You’re earning about the same as workers in 1973
Annual incomes of the bottom 90% of U.S. families have been essentially flat since 1973 — having risen by only 10% in real terms over the past 37 years. Over the same period, the incomes of the top 1% have tripled.
And most of that wage growth has come from women. Using 1979 as the basis year, wages have declined by 10% for men, risen by 25% for women, mainly due to educational achievement, and just 3% for all workers.
There is a debate over exactly how much or little wages have increased since the 1970s, but as you will see later, there is no question that the rich have grown far richer since then. Consult these stories for additional information:
Bloomberg (14-Feb-19): Wage Stagnation Is One Disease With Many Causes
Forbes (25-Sep-18): Real Wage Growth Is Actually Falling
Pew Research (07-Aug-18): For most U.S. workers, real wages have barely budged in decades
Economic Policy Institute (06-Jan-15): Wage Stagnation in Nine Charts
For decades, profitable companies have been able to avoid corporate taxes. But the list of those paying zero roughly doubled last year as a result of provisions in President Trump’s 2017 tax bill that expanded corporate tax breaks and reduced the tax rate on corporate income. Article linkSee a list of corporations that paid no taxes: