A Working Mother Making $5.15 per hour Can Build Large Savings

With a health savings account a working mother making minimum wage can build a large savings account by purchasing a Health Savings Account…..it works very simply by not using the account to pay for health care for herself and her children…each dollar she saves by not going to the doctor is rolled over. After she receives a substantial amount in the account she then converts that to some stock, say Enron…then it grows and grows until she is one of the top one-half of one percent of the population. This scenario needs to be qualified through the understanding that she may very well lose one or more of her children due to untreated illness….but look at how wealthy she will be if Enron stock continues to grow.

The battle cry of the Americans should be, “ Let’s fix the health care problem, its time to get the bankers involved!”

minum wage. Than I'd like to have an honest chat about working poverty with thim.

I saw both Sens Levin and Stabenow last weekend. They mentioned the Michigan Dems' effort to get minimum was on the statewide ballot in November. I like the strategy of; if you can't get it done at the federal level we can do something about it within our state. We are working on getting enough petitions signed to make sure it's on ballot and my Senators urged us to make this a top priority.

Julie

I'll never know how one can make more money than the people they represent. It's like the one Seinfield episode where George's secretary made more money than him.

That's a lot better than what I used to say--that they should all make exactly AVERAGE once you add up everyone in America and divide by a head count. I used to think that'd encourage them to want everyone to do better, but now I understand math slightly better and realize that bumping the pigs on top would increase the average too. I'm switching to your camp here. Minimum wage, permanently. No bonuses and NO VOTING FOR YOUR OWN RAISES. And any evidence of making more money than that gets your happy ass thrown in jail. Now that would get them really interested in raising that minimum--and it would chase out a lot of the bloated hogs interested in the bottomless trough instead of actual public service.

Ah, it's good to fantasize sometimes. (sigh) (imagines four or five Senators in a two-bedroom slum arguing over who ate whose mac and cheese) (sigh)

edit: typo

a hangnail.

:shrug:

This is the problem (only ONE of them) with this admin and what seems to be the whole Pub Party. They simply can't relate to $5.15 an hour!!!!!

I'd stretch that to a lot more than that! How about even $10.00/hr for that same woman and only 1 child? Yes, she should be able to survive, but SAVINGS?????

I think the Dems need to go back to the "It's the economy stupid" speeches!

Great Depression, how in the hell are they suppose to save for medical costs? The kicker here is that it encourages people NOT to go to the doctor (something we all just love to do). So we can guarantee the spread of TB, flu and other contagions.

college for the kids, then save for nursing home care should it be needed, then save for a catastrophic event to rebuild our homes, then we buy car insurance, death insurance, home insurance(plus save for this)also still carry health insurance because your savings may not be enough,after this there should be plenty of money left over for food, mortgage(or rent) transportation, heating, electric, etc.

but otherwise it is a nightmare. Your premium goes down, for sure, but....most people need that extra money to live--they can't put it in a saving account. Then you have to pay out at least $1000 for your deductible before the insurance kicks in. How easy is it for someone making even $10 an hour to save $1000 in a timely manner. What is going to happen is people will not be going to the doctor so they will end up sicker. And unfortunately by the time they do go, it may be too late. You are going to see sicker parents working and spreading stuff and sicker children in schools spreading stuff. Again, it is a great plan for the wealthy but not for most of us.

"It's their own fault. This will work just fine so long as everyone does their part by forever staying healthy."

you must have an existing High Deductible Health Plan (HDHP) before you can "take advantage" of a Health Savings Account. So, these HSA's do nothing for those who are currently uninsured.