The highest-income Americans don’t need tax-free health insurance, mortgage interest deductions or deferred taxation on retirement funds.
And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it’s going up at the level of inflation, maybe just slightly above inflation, we’ve made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That’s why we did it.
One state retiree, 49 years old, paid, over the course of his entire career, a total of $124,000 towards his retirement pension and health benefits. What will we pay him? $3.3 million in pension payments over his life and nearly $500,000 for health care benefits – a total of $3.8m on a $120,000 investment.
What we know from World War I is that some of our troops had acute symptoms of exposure to chemicals, had bad health and died because of chemical exposure in World War I.