Tuesday, September 22, 2015

Socialized healthcare since 2010

This is the second New York Times article I’ve read recently that reports on the socialist dystopia of American healthcare:

It may not seem like much—just an extra hundred dollars or so a year.

But the steady upward creep in health insurance deductibles has easily outpaced the average increase in a worker’s wages over the last five years, according to a new analysis released on Tuesday by the Kaiser Family Foundation.

Kaiser, a health policy research group that conducts a yearly survey of employer health benefits, calculates that deductibles have risen more than six times faster than workers’ earnings since 2010.

Let’s see, what happened in 2010? Oh, that’s right. Obamacare—or the more ironic, official title, Healthcare Affordability Act.

The political director of a nurses union, National Nurses United, tweeted a link to the article, including the hash tag “#Medicare4All.”

Why would nurses want Medicare, a form of socialized medicine, for everyone? Because it subsidizes poor people to buy services they otherwise could not afford. It pumps up demand, giving nurses income security. That’s why one of their unions supports it, even if it means inferior care for the patients they ostensibly serve. Such a tragedy to see a noble profession be claimed by greed.

Demand overreaching supply is the definition of inflation, which is what the Times article highlights. The prescription for seemingly insufficient supply is freedom to innovate to broaden healthcare options and bring costs down. The political establishment, however, is blind to the realities of market supply. Obamacare, an insane Rube-Goldberg device of healthcare delivery, removes unpredictability, especially creativity, closing off new supplies of goods and services while subsidizing and artificially raising demand. This entropic healthcare equation will continue to age and atrophy until it is overthrown for a market-based system.

Related: “Socialism incentivizes price gougers.”

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