This post was suggested by an article by Mark J. Perry professor of economics at the University of Michigan. In it he lists the profit margins of the top 86 industries in the US. He stops at 86 because that’s the spot occupies by health insurance. If you want to see the complete list you can go here.
It’s become a a popular blood sport on Capitol Hill to demonize health insurance companies. A profit margin of 3.3% seems to suggest only two conclusions – don’t invest in this sector and if you’re in the business consider getting out. Now add to their business model the need to conform to a vast new federal health bureaucracy, new mandates, and a public system of health insurance and what is the likely result? More profits, greater rewards to shareholders, business health and prosperity? Hardly. A public plan will eventually, sooner rather than later, drive the private health insurers out of business.
Here is a quotation from Speaker Nancy Pelosi on the health insurance business.:
They are the villains in this. They have been part of the problem in a major way. They have been doing everything in their power to stop a public option from happening. The public has to know that. They can describe their arguments any way they want, but the fact is they don’t want the competition. They don’t even want anti-trust laws. They have had a good thing going for a long time at the expense of the American people and the health of our country. Our members have to go out there ready to take on a big special interest that has not made our country healthier and have made our cost spiral upward and for whom that is coming to an end.
You’d think that if these malefactors of great wealth were so powerful they’d be able to make a little more money. If they’d made the American medical scene like the plains of Troy during the time of Achilles and Hector why have the spoils of their carnage not materialized?
Then you will know the truth, and the truth will set you free (John 8:32) seems not to apply to politics.