Britain delaying introduction of new cancer drugs because of cost. I’m okay with this because neither I nor any loved ones has cancer, that we know of. Parents of afflicted children, young women with cancer and others with the disease may disagree but regardless of your feelings on the subject, accept it, because the present in England is our future. Paul Krugman, call your office.
(2008):
In Britain, the government itself runs the hospitals and employs the doctors. We’ve all heard scare stories about how that works in practice; these stories are false. Like every system, the National Health Service has problems, but over all it appears to provide quite good care while spending only about 40 percent as much per person as we do. By the way, our own Veterans Health Administration, which is run somewhat like the British health service, also manages to combine quality care with low costs.
NYT, 2011: Court upholds veterans’ complaints against VA
In a sweeping decision released Tuesday, the United States Court of Appeals for the Ninth Circuit ruled that “unchecked incompetence” by the Department of Veterans Affairs had led to poor mental health care and slow processing of disability claims for veterans.
I could go on, but you get the big lie going on here.
The USA has the best healthcare system in the world: the Saudi royals choose the USA, (and they could choose the UK, couldn’t they Mr. Krugman?) New drug development will be among the victims of Obama policies. It takes $500 million to develop a new FDA-approved drug. This money comes from venture capitalists, seeking capital gains (which Obama would tax) and compensated by carried interest (which Obama would tax). The left is making war on prosperity and now health, all in the name of the “oppressed” classes.
There’s a drug that prevents blindness in people with macular degeneration. The only problem is that it costs about $2k for the one time treatment. The British NHS will pay for it, but you have to go blind in one eye, then they’ll save the other one. If it isn’t too late of course.
http://www.dailymail.co.uk/health/article-122995/You-blind-eye-NHS-treat-you.html
Balzac,
VC’s and entrepreneurs will still pursue these endeavors in the USA even if they are taxed at 100%. Where are they gonna go? Historically, The pendulum swings back and forth. The rich are going to have to pay a lot for a while. Period. They have abused their advantages to the detriment of society at large and they are about to be penalized just so that the middle class does not riot.
By the way, we can not rebuild the nation or confidence in our system unless some heads roll and people go to jail. Period. Every politician should be mindful of this (every banker should too). Unfortunately, the kleptocracy is so lost in their own bubble that they may not realize what is going on until it is too late. “The folks” are angry and they are not going to take much more of this BS. This is only a warning.
I refer you to Robert Heinlein. For that matter, you might consider the history of the Jews who, subjected to pogroms, hunkered down, saw their lives and families destroyed and then came to pick up the pieces after it “blew over” as you say. That worked well enough to allow them to survive, until 1936. After that, not so well.
Entrepreneurs will contine to produce and innovate even if taxed 100% because they have “nowhere to go”? Yours is a philosophy opf jack-booted thuggery.I refer you to Ayn Rand.
CF, I am stating an opinion but it is not necessarily my philosophy. I am basing this opinion on history. Typically, the pendulum swings back and forth between unbridled capitalism and complete stagnation due to over regulation and government interference. This cycle has repeated itself over and over again. The goal of people in finance is to make money. That is fine. Entrepreneurs need access to capital and when they are successful they provide new products and services that usually benefit society at large. If they get rich that is fine too. That is what makes capitalism great (and what motivates many people). What is not great is crony capitalism and a system when all of our politicians are bought and paid for. We elect our public officials to protect us from this kind of behavior (rigged markets, insider dealing, large scale fraud, etc.) which certainly is a detriment to society at large. When insiders get all of the sweetheart deals (Pelosi’s brother in law, etc., ad nauseum) and when crooks get off with a slap on the wrist or with no penalty at all, not only is the system not working but it creates an environment that is fueled by both hopelessness and anger. The people in the bubble may not even notice that the majority of Americans are really struggling (for example high end retailers are doing well and Michelle is skiing in Aspen) but there is a majority of the population that feels the game is rigged and I do not think they will just lay down and take it forever. People that think we are in recovery mode are either blind or have never studied history. Cranking up the printing presses is NOT fixing the problem it is just kicking the can down the road. When the system is broken heads have to roll. Politicians eventually get thrown out or the whole system caves in. In many cases, the rich become scapegoats too and many of them get stripped of their wealth. It does not matter if it was earned or stolen. A free society without a functioning middle class can not exist for very long. So, unless things get fixed (and in a hurry) we may live in a very different world than one you have ever considered (possibly one that Mr. Heinlein could have imagined). I hope this is not the outcome but right now i see a lot of storm clouds and no rainbows. Anyway, where are American entrepreneurs going to go if are taxed at usurious rates? The rest of the world is even more screwed up than we are. Have a nice day.