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1 year agoBanking sector regulations require financial reserves that can be used to cover emergencies.
The EU revised the rules recently that meant banks could count the cost of its software as part of its cash reserves, increasing them by € billions each year.
You try and sell your copy of windows 10 and Norton anti virus to make ends meet.
Did you have healthcare before Russia invaded Ukraine and started murdering babies? Was it even on the cards?
It’s not an economic factor either. US health costs are much higher than other developed nations. It spends 17% of GDP, almost double of Germany (next highest).
Spending is without the positive outcomes. Infant mortality of 5.4 deaths per 1,000 live births (17,000 extra dead babies a year Vs an average.rate), for context you are worse than Russia with 4.9 but better tha Chile 5.9). 23.8 maternal deaths per 100,000 births being 3 times higher than most wealthy nations.
The economic considerations are that you have a lot of heath businesses. If you socialised medicine and reduced spend, you may improve health outcomes but how would they pay for the very nice buildings they have loans for?
Finally, US doesn’t want universal healthcare as a society. Whilst they may be financially wrecked by costs and live shorter more painful lives, that is far preferential than seeing the low income family get the same free cancer treatment for their child.