Deepening Concern over Role of Profit
Trouble with Socialism's Problem with Profit
Every Human Activity Requires a Profit
Profit Margins Vary in Health Care Sectors
Global Pharmaceutical Pfizer 43%
Global Medical Device Medtronics 33%
Hospitals HCA 20%
Health Insurance Aetna 9%
How government would go about regulating those in any given sector can be counterproductive, e.g., Pfizer and Medtronic may move to Ireland to avoid prohibitive U.S. corporate income taxes.
Profits and Economic Growth
Why is this: because the U.S is one of the few countries in the world that taxes earned abroad and because the U.S. has the highest corporate income tax (35%) on profits of any major industrialized company. And it can be argued that ObamaCare, because of its aggressive regulations and high taxes, has slowed economic growth to 2% compared to the usual 3 to 4% following a deep recession, the slowest economic recovery since World War II.
Everybody agrees the U.S. needs a social safety net to help the have-nots in our society, but we do not agree how big should it be. The U.S., if you include Medicare, Medicaid, ObamaCare, CHIP, and the VA in the social safety net, already pays roughly half of the nation’s $3 trillion in health care costs. Given our national deficit, government debts ( 1/3 of which are due to entitlements), hospitals and doctors going out of business due to ObamaCare cuts, how deeply should government cut into corporate and private profits to make government health care spending sustainable. Only one thing is certain. A growing economy and private profits are a necessary evil to pay for government expenditures on the safety net.