Wow. Just wow. As an Australian, I cannot fathom having to include $530 into my monthly budget just to ensure I don't end up homeless (or heavily in debt) if I get really sick. I'm not a socialist (I'm quite a centrist when it comes to economic policies), but something about the US system absolutely must change.
Pension is 20% from the total. (used to pay the current pensions)
Healthchare is 13% from the total.
This comes out at around 990€/month for "health insurance". There are advantages and disadvantages to both systems, but I'm pretty sure you're paying something as a tax for you health insurance and it's probably similar to what they're paying.
To be fair, i'm well paid and a person with an average salary would pay around 250€ monthly. It's just the way our system is setup with a fixed % which automatically creates tax brackets.
For example, a routine doctor's office visit can cost hundreds in addition to the monthly fee you pay.
Last year I paid $300/month for my medicine, in addition to other costs.
I can't complain :)
Someone making 100,000
On average you pay 2% of annual salary to health levy which gives you medicare 2000.00
If you are over 90k you pay 1.5 unless you have private insurance On average $2000. Plus on average $800 in extra like someone driving you to the hospital
$4800 aus to usd = $3312.41
It looks like you are paying half.
But the government is spending 7800 a year per person. So the additional cost comes from general tax revenue which you pay.
On average you are paying an extra 10000-15000 in taxes on that 100,000
I think it suggests that the healthcare barrier to entrepreneurship is much higher in the US than in Australia.
There is no minimum tax payable before accessing healthcare services: if you have no income, or are unlucky, you won’t die or be debt ridden for the rest of your life.
(Not that this is enough! I am absolutely on the side of everyone having access to good public health care.)
https://ca.db101.org/ca/programs/health_coverage/medi_cal/pr...
and like others said you would qualify for either free or subsidized insurance if you were low income
So not only are you being taxed more in the US, you also have to pay for healthcare on top of it. Insane.
if you're self employed then your health care premium is 100% tax deductible
