Obscene Profits

First of all, let me say that I don't have a problem with profits. I enjoyed economics from the time I was in high school. I remember hearing someone at my school say something about Hollywood actors or Major League sports figures. The implication was that it was ridiculous that these people, whose talents were so unimportant, could make such enormous sums of money when teachers, and even doctors, weren't even close. Even as a child who didn't really understand the trade off between services and freedom, I thought this was silly. They make more because people demand their services more. If you disagree with what an actor makes, don't see his film. If you don't approve of what they pay sports figures, don't go to, listen to, or watch sports. When enough people devalue these abilities, they will not be able to demand high salaries.

And so, I now hear that insurance companies are making windfall profits while people are dying after being denied services. That sounds really sad. Too bad it's not true. I want to share this article with you.

FACT CHECK: Health insurer profits not so fat

Basically, based on this assumption of "evil" insurance companies, the government is suggesting that it swoop in and save us. The senate is, once again, drafting legislation that includes a public option. This means that the government will start its own insurance company to compete with the ones that now operate. Except that "compete" isn't the word. After all, they government doesn't have any accountability. They don't have to answer to shareholders. They don't have to turn a profit. Rather, they can just take the money they need from us and our children.

Would this lower health care costs? Let me ask you this...when someone holds out a basket of Halloween candy that includes both full-sized candy bars and dum-dum suckers, which do you take? The person who doesn't have to pay, takes the candy bar. The insurance company says, "Now wait a minute, let's look at the facts. There's calories and cavities to consider. Which of these option is really better?" Take accountability out of health care and you will watch costs skyrocket. And it seems to me that taking accountability away is what the government does best.