Cancer. That is a word with the power to strike a lightning bolt of fear and dread through anyone, a word that compels one to hold onto their life, and the lives of their loved ones, a little tighter.
The diagnosis of a potentially fatal illness, such as cancer, is not an uncommon occurrence—I, throughout my mere 16 years in existence, have seen it five times, in all cases a tumor invading the body of a family member. Fortunately, in these instances, my relatives were able to conquer the disease, chiefly because of their access to quality health insurance that enabled them to afford life-saving treatment.
However, in the United States, health insurance is not a guarantee; it is a utility that about 8.6% of the population does not have. If one of those 28 million individuals is suddenly sick or suffers an accident, they may have to choose between their life or bankruptcy, this risk made much more likely in the midst of a resilient pandemic.
So what is necessary to ensure that all have access to resources that preserve their health—their life?
In short, money. Various governmental policies and programs have been suggested to mitigate this crisis, such as Medicaid, Medicare for All, and the elimination of medical debt, but they all require funding. And though it must seem obvious that the funds essential in implementing any one of these solutions cannot be taken from the groups previously mentioned, those who can’t even pay for reliable health insurance, our current tax system is not intuitive.
Most corporations and extremely wealthy individuals, three of which hold more wealth than the bottom 50% of the population, pay almost no taxes, while income tax rates imposed on middle and lower-class Americans are absurdly high, exacerbating the already colossal income inequality in the US. While the IRS mandates that corporations on average pay 21% of their earnings in federal income tax, there are several loopholes to this policy, called corporate benefits, of which companies make frequent and liberal use. This, in combination with the fact that the IRS lacks funding to rigidly enforce tax laws, prevented the government from collecting about 630 billion dollars in tax revenue this past year.
Some argue that this is justified, that protecting the extravagant wealth of corporations will create employment opportunities, benefitting the rest of society. But why would companies use extra profits for the greater good when they could just pocket them?
Thus, legislators must work to amend the process by which taxes are collected, ensuring that the rich pay their fair share and fund essential government services, such as health insurance, that can safeguard the wealth and well-being of all Americans.
Works Cited
Keisler-Starkey, Katherine, and Lisa N Bunch. “Health Insurance Coverage in the United States: 2020.” United States Census Bureau, United States Census Bureau, 18 Oct. 2021, https://www.census.gov/library/publications/2021/demo/p60-274.html.
Collins, Chuck, and Josh Hoxie. “Report: Billionaire Bonanza 2018.” Institute for Policy Studies, 2 Nov. 2018, ips-dc.org/report-billionaire-bonanza-2018/.
Scott, Michelle P. “What's Wrong With the American Tax System.” Investopedia, Investopedia, 1 Dec. 2021, https://www.investopedia.com/articles/personal-finance/082415/whats-wrong-american-tax-system.asp.
Ryu, Marcus. “Why Corporate Tax Cuts Won't Create Jobs.” The New York Times, The New York Times, 9 Oct. 2017, www.nytimes.com/2017/10/09/opinion/corporate-tax-cuts-entrepreneur.html.
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