The Myth of the Medical Bankruptcy - Bloomberg View:
So really, Megan doesn't really know if it's a myth or not.
I do know that for many of the working class people around me, losing everything to the health care system is a real thing. Since most people have insurance, the loss doesn't necessarily go to the medical establishment but instead to long term care.
If you're rich enough to afford good legal work or can tie farm assets up in a trust, you can avoid it but most working people will spend there last days in some type of long term care while the system slowly absorbs their life's savings.
That is the real "Death Tax" and it is targeted directly at middle/working class people. The rich can avoid it through the legal system and the very poor really have nothing to lose.
The middle class gives everything they have back to the system in the last few months of their lives.
Again, that is the true "Death Tax".
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