ECON 375 Lecture 8: Test 3 Reading Notes1
Document Summary
Spend more per person on health care than food and housing. Emergency medical treatment and active labor act and ppaca- assures access to emergency care does not ensure that health care is a right to all people. We must coordinate our healthcare resources right now it is being misused by special interests. Some people get to optimize their health while the rest of us cannot. Tragedy of the commons people will take all of a resource. America hasn"t done this because they value the individual choice. So it becomes individual (right vs choice) and community (tragedy of the commons vs managing common resources) Hire, work, produce must pay full price for healthcare. Marginal tax rate index up to 50% because they are financing everyone else"s healthcare. Higher than the rates during recovery and reinvestment act. The reward for holding a job drops to 17%- only keep 50% of income. Redistribution increases marginal rates and contracts the labor market.
