Sunday, October 25, 2009

Obscene And Immoral Profits

"I'm very pleased that (Democratic leaders) will be talking, too, about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years." -House Speaker Nancy Pelosi
It should be more than evident by now that the socialist mindset has stepped from the shadows and boldly thumps its chest in the bright glare of the sun. For elected politicians in a capitalist republic to utter such phrases should be cause for alarm in every American but sadly, far too many have bought into the lies that will ultimately be their own ruination.

By fostering a deep-seated hatred of those who do business for profit, Democrats have initiated a dangerous spiral which has begun to take on the damaging traits of a huge vortex from which we may find it difficult, if not impossible, to escape. When the argument is made that health care providers and insurers are greedy, heartless cretins who shamelessly make money, people have a detached propensity to simply nod in agreement. When the claim is "bolstered" by false statements, few bother to check their veracity.

Nancy Pelosi's quote above is but one of many examples. There is also this from Congressman Chris Van Hollen (D-MD):
"Keeping the status quo may be what the insurance industry wants [since] their premiums have more than doubled in the last decade and their profits have skyrocketed."
The problem is, both statements are simply not true. According to the Associated Press, health insurers as a whole posted an anemic 2.2% profit margin last year. While it is true that premiums have doubled since 2003, that increase hasn't translated to "profits skyrocketing" for the industry. On the contrary, according to Calvin Woodward of the AP, "Profits barely exceeded 2 percent of revenues in the latest annual measure. This partly explains why the credit ratings of some of the largest insurers were downgraded to negative from stable heading into this year, as investors were warned of a stagnant if not shrinking market for private plans".

The truly disturbing aspect in all of this, however, is not so much the treachery involved in trying to ram socialized medicine down our throats but more to the vilification of capitalism in and of itself. We constantly hear of the "obscene profits" of the oil industry and the health care industry has now joined that parade. It is simply disgusting, we are told, that someone would have the temerity to actually benefit from the sale for profit of life's necessities. But let's examine another industry that eludes a similar scrutiny.

Water is without a doubt the number one necessity for the survival of man, and it is abundant and easily accessible for most. Yet there is a very lucrative market where corporations sell water in bottles and make a fortune. The bottled water industry enjoys profit margins of anywhere from 50 and 200 percent. Yet, politicians do not consider this immoral or obscene, most likely because there is no political capital in attacking an industry that is off the radar of the citizenry.

It is frightening when Marxist vernacular emerges in those we choose to run this nation, and "immoral profits" is typical of a Marxist mentality. It should never have crept into the American lexicon at all.

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Edisto Joe said...

There's so much I would like to say on this subject but it turns my gut inside out just thinking about it. So I'll say this, GOD THESE PEOPLE PISS ME OFF!

Willi said...

I happen to be involved in the health care industry from the insurance end of things. I am experiencing a dramatic downswing in health insurance sales for two reasons. First. No one has any money to spend. Second, everyone else is waiting for the government handouts to begin. I have one client who complained about the premiums because she was accustomed to paying European premiums. The equivalent of $16 monthly. And that covered everything from womb to the tomb. Unfortunately for this concept, her husband quickly came to the rescue and mentioned the outrageous personal income taxes there and the whole concept took shape. Once there is a public option, there will soon no longer be a viable private option at all. And the current private option is driven not by actual cost nor greed of insurance companies and medical institutions, but by the costs of malpractice insurance due to frivolous malpractice lawsuits. I see both ends of this spectrum. I also sell professional liability insurance. It's called malpractice for medical and E&O insurance for everyone else. t is compulsory, not voluntary as hospitals and practices insist you have it if you want to work with them. This ensures that they are shielded from lawsuits concerning your liabilities.
If any red blooded American should ever want to know why their healthcare cost so much, all they have to do is follow the money. It leads right back to the same people who are trying to force this public option upon us. If I was a conspiracy theorist, I would venture to say that it has been the Marxists among us who first saw the opportunity in driving up the cost of everything imaginable in our society by waging the frivolous lawsuit campaign against American business and healthcare especially. There, the emotional factors run deep and blood red.

Anonymous said...

The problem with you defending profits in the healthcare industry isn't the amount of profit, but the fact that these companies put profit ahead of human life. They make decisions all the time to deny treatment that would save a patient's life, just because it costs too much. They even pay bonuses to employees that deny the most claims. Didn't you see the doctor testify before Congress years ago that said she routinely denied claims to get her bonus? She gave a very typical example where a $500,000 proceedure could have cured a patient, but she denied it and he died...but she got a bonus. If a health insurance company posts $100 million in profits, that means hundreds of people were allowed to die to make those profits. Only a pathetic excuse for a human being would put profits above human life. I don't know how you (and the insurance companies) can live with themselves. Your love of money is greater than your love of fellow human beings. We already have "death panels" in the US, and they are operated by insurance companies, and supported by people like yourself. Truly evil!

Woody said...

"Anonymous" is a funny name for someone who is obviously engaged enough to be commenting here, on an obscure blog. I am glad that you stopped by and I will address your concerns.

While I fully understand the concept you offer, I ask you to imagine who would heal the sick if the doctors were left to starve themselves. Life IS about earning and eating.

Remove the "evil, greedy insurance" industry and leave the money aspect to the poor doctors. If they heal their patients, but their children subsequently die of malnutrition, Sainthood may be on the horizon while mental anguish prevails.

Further, you seem to suggest that the federal government may as well supplant the private industry in the death panel business. I must ask a relevant, albeit fictional, question of you.

In an old "All In The Family" episode, Gloria was complaining to Archie over the number of people killed annually by handguns. Archie responded, "Would you feel better if dey was pushed outta windows, little girl"?