There have been many articles published and lotīs of webpages written
about asbestos related diseases like Mesothelioma cancer within the last
few years. The discussion is on and the focus of the information provided
about asbestos diseases has been targeted on three major topics:
1. The unfortunate victims of industrial asbestos use, such as former
employees of asbestos mining companies suffering from Mesothelioma Cancer.
They have caught the deadly disease whilst being faithfully engaged in
their jobs. We have seen images of these people on TV, mostly all of them
in their retirement years, gasping for breath and suffering tremendously.
2. There is a hot discussion going on relating to Mesothelioma cancer
and asbestos related lung cancer. This discussion is trying to bring some
light into the question on whether the mining companies had been aware of
danger to health and life of their employees being in contact with
asbestos fibres within the critical years.
3. The Multibillion dollar class actions that victims have filed
against their former employers seeking for just compensation.
However there have been two issues that have not or have been very
rarely discussed:
1. This is the financial cost to society being directly or indirectly
realated to asbestos related diseases such as Mesothelioma Cancer and
others. And: who is going to pay for the costs?
2. Should the asbestos mining companies not only pay compensation to
their former employees suffering from Mesothelioma or other asbestos
related diseases but also to the society in regards to the high
consequential costs and losses as well?
In general, there are two types of costs to society that can be
identified. Firstly, the tremendous costs to the public health system. And
secondly, the loss of tax revenue. Why that? Because the asbestos mining
companies are claiming for tax reduction in regards to their compensation
payments that are made to asbestos cancer victims.
The Asbestos Diseases Foundation of Australia (ADFA) has raised the
fact, that by the year 2020 there will be about 13.000 cases of
mesothelioma cancer and 40.000 asbesots related lung cancer diseases. This
means about 53.000 people will need to have permanent medical treatment
and attention within the next 15 to 20 years. And these are the figures
for Australia only, not to mention the United States, South Africa, Europe
and the rest of the world! So, besides these dreadful facts, it should be
allowed to ask the question: Who is going to pay for the costs?
As it seems, the answer to this question is as usual in such cases: The
taxpayer is going to pay. And the next generation of tax payers as well.
It is all that easy. The bill again is being presented to all of us, to
society!
Well, bad enough, but it is even worth. As the asbestos companies are
claiming their mesothelioma and asbestos cancer related compensation
payments for tax reduction, society is loosing even this amount of money
from the asbestos industry. Letīs assume that an asbestos mining company
is paying about 150 Million Dollar per year for a period of 5 years to the
asbestos victims. Let us also assume that the corporate tax rate is 30%.
This calculation reveals, that within these 5 years, the government is
losing 150 Million Dollar in tax revenue. And this is from our fictive
single asbestos mining company only! This means, they are simply sharing
the costs with society. They do pay 70% of the cancer compensation and the
taxpayer pays the balance.
I guess, most people would regard this as totally unacceptable.
To put this just and right I can only see two possible solutions:
1. Governments and Health Insurance Systems should also go to court and
join class actions with Mesothelioma and Lung Cancer victims against the
asbestos mining companies in order to seek for compensation for medical
treatments and future medical costs. When we compare this idea with what
had happend in similar threats against the American tabacco industry
raised by various state governments, we can see that chances for
compensation are not that faible. Tobacco companies have already been sued
to pay at least for part of the medical cost of citizens that had been in
need for medical treatment due to the unfortunate health effects of
smoking.
2. Governments simply refuse tax deduction for Mesothelioma and Lung
Cancer related compensation payments, made by the asbestos industry.
Either way, it will be the taxpayer taking unfair burden with the
financial costs of asbestos related diseases such as Mesothelioma or Lung
Cancer. Bad enough, but the solutions as presently being targeted do not
seem to be the correct and righteous answer. The discussion is on. What do
you think about this issue?
