The government goes out of its way to develop ideal body weight tables and to promote the health benefits associated with normal weight. According to the CDC website, overweight and obesity increase the risk of developing heart disease, type 2 diabetes, cancer, high blood pressure, high cholesterol, stroke, liver and gallbladder disease, sleep apnea, osteoarthritis, and fertility problems.
Yet Americans keep on ballooning. And it's costing us. CDC says that according to a study of national costs attributed to both overweight and obesity, medical expenses accounted for 9.1% of total U.S. medical expenditures in 1998 and may have reached as high as $78.5 billion ($92.6 billion in 2002 dollars). Approximately half of these costs were paid by Medicaid and Medicare. No wonder the president wants a reform.
Here's my solution: a body weight tax. Mandatorily weigh all US citizens and permanent residents once a year and impose a tax of $1.00 per pound above the ideal body weight. How much are we overweight on average - 20, 30, 50 pounds? If it's at least 25 on average, that's $25.00 x 300,000,000 people = $7.5B dollars right there. Billions, with a "B"! And I am sure some citizens will be able to contribute a lot more.
Since weight gain is not associated with any particular class or group, and does not discriminate based on age, sex, or national origin, the weight-based tax is much fairer.
If the government can find the money to pay people for old clunkers or provide tax credits to first time home buyers, why not for first year weight loss?
Now, if you don't want to pay the tax, you have a choice: lose weight.
If we lose weight, our healthcare costs associated with the above deceases will go down accordingly. Healthier lives, lower taxes, lower health insurance premiums; and the dreaded IRS audit as nothing more than an annual weight check.
Private business can benefit too. My bank recently installed secure double doors that let customers in and out one at a time. You enter the outer door on the green light, stop (the light on the inner door in front of you is still red). The system waits for the outer door behind you to shut before giving you the green light on the inner door to proceed. Some technology! What if a similar system installed at restaurants and eateries tells you your weight on the way in, and on the way out? Do you think it will help?
I realize that some people do have a problem with weight: some have a hard time losing it; others can't gain enough no matter what they eat. We can capitalize on that too. If we can trade carbon credits, why not excess weight? Say, in the form of weight loss certificates or BMI credits? Just a thought.
Published by Slav Fedorov
Full-time stock trader and founder and managing member of TradingZoom, LLC, a provider of timely stock picks to part-time traders. Former banker, stockbroker, financial planner, with over 20 years market ex... View profile
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- Tax Deductions
- Introduce a weight-based tax: $1.00 for each pound above the ideal weight.
- Introduce a tax credit for first year weight loss.
- Trade excess weight like carbon credits.
