The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Democrat Wants to Ban All Private Health Insurance

Posted by iusbvision on August 19, 2009

This is Congressman Anthony Wiener and he is a good Democrat to watch because he makes the most outrageous policy positions sound so good and so reasonable, but when the surface of his rhetoric is examined you realize that it all falls apart.  This is a great lesson on how a genuine anti-capitalist can make the most destructive policies seem so seductive.

While you watch Joe Scarborough interview this guy keep a few things in mind.

Medicare has a 4% overhead Wiener says, but since there is no incentive to keep it lean to make a profit their bureaucratic overhead costs are much higher than that of an insurance company. And since the government regulations have taken most of the market forces out of the system the costs rise at twice the rate of inflation. When a government has a monopoly, costs go up which means debt and rationing will go up.

Wiener says that the profits that insurance companies make means fewer health care dollars for you. It is just this simple, even with making a profit, the cost of private health insurance bureaucracy is cheaper than a government bureaucracy.

Joe Scarborough correctly asks (but blows the follow up). So should we only have Social Security and not private pension plans??

Great question Joe, Democrats are already saying that Social Security may default in two years (LINK). FDR intended Social Security to be a government program for only a few years and then wanted to roll it over into something like private annuity plans for every citizen. FDR never got his wish. Instead of investing that money and pre-funding our retirements the money was used for political reasons and now its broke when it didn’t have to be.  The simple truth is that even with the few crashes we have had since the founding, there has never been a 25 year period even on a market as volatile as the stock market where if you invested your money in a diversified way that money would not have grown nicely for you. That includes the time of the great depression.

The private sector was able to grow costumers wealth and make a profit at the same time. Should we ban the IRA or the annuity or the trust fund and just have Social Security because “every dollar in profit the investors made was another dollar you didn’t get”? …Of course not and if you made such a comparison you would be laughed out of the room.

A SUMMARY OF THE 2009 ANNUAL REPORTS
Social Security and Medicare Boards of Trustees

http://www.ssa.gov/OACT/TRSUM/index.html

That report tells just what bad shape Medicare and Social Security are in.

A poster at hotair.com put it this way:

Wiener: I’ve asked you three times. What is their value? What are they bringing to the deal?

Whatever value they have lost is due to government intrusions into their business that you have always supported. You have created the very inefficiencies you now blame the insurance companies for. I know you don’t get that because you’re an economic ignoramus, but that’s the reality.

Wiener: Time out. Let’s focus on one thing at a time. This isn’t a commodity, Joe. Health care isn’t a commodity.

Yes it is and just because you say it isn’t does it make it so. I’d like to think that the LAWS of Gravity wouldn’t apply if I fell out of a window. It’s just as stupid to think that the LAWS of Supply and Demand don’t apply to health care.

Wiener: Correct. I want Medicare for all Americans.

Great. We’ve run out of beer and you want to invite more people to the party so we can drink their beer. That’s going to make for one hell of a brawl when all the beer runs out.

Well said.

Another poster at hotair.com makes another important point for doctors and the elderly:

Congressman Weenie and Joe, as usual, missed the point entirely. The problem is not what the insurance companies offer: but that they don’t and can’t offer the one thing thing inherent in every governmental action – the threat of coercive force.

Remember the federal health care police with GUNS in the HillaryCare plan?

By all accounts, Fannie Mae and Freddie Mac, both Government Sponsored Enterprises (GSE) should have made a killing while serving the public. Instead they were ran and abused for the purpose of making Democrat appointees rich and we have seen the result.

Private companies are made to deliver by force of contract law, the government can do what ever it wants. Where would you put your money?

End game; do you want the government to do for health care what they have done for social security.

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