THE USEFUL IDIOT accuses a fellow Dem of the same!
Paul Krugman, THE USEFUL IDIOT of the left, writes a column on the the Wyden-Ryan Plan to fix Medicare, calling Wyden a useful idiot. You can read it here. His ignorance astounds!
I'll just explain one of the many misconceptions in the column and let you figure out the rest.
He has become THE USEFUL IDIOT of the left by buying into the deamonizing of big business, in this case insurance, and having no conception of how they work, only feeling the jealousy of the ignorant of the money the executives make!
Take a deep breath and follow my logic: if I am a big insurance company I do not want to insure only healthy people to maximize profits - if you give it 1/2 a minutes thought you would see that my goal would be to insure as many sick people as possible which would cause rates to go up and increase sales and maximize profits! 5% profit on a million dollars is $50,000. 5% profit on five million dollars is $250,000. Which scenario would you want?
Now in fact insurance companies do not go to either extreme but try to service a random base of people to allow them to run a successful and profitable company.
What doesn't work is to get the Government involved with their inefficiences and corruption thereby forcing the insurance companies to effectively take more of our money from the Government coffers because of the ease of doing so. And the Government is much too involved, even .without Obamacare.
UNINTENDED CONSEQUENCES is the result of all leftist thinking. The FREE MARKET minimizes unintended consequences!
I'll just explain one of the many misconceptions in the column and let you figure out the rest.
He has become THE USEFUL IDIOT of the left by buying into the deamonizing of big business, in this case insurance, and having no conception of how they work, only feeling the jealousy of the ignorant of the money the executives make!
Take a deep breath and follow my logic: if I am a big insurance company I do not want to insure only healthy people to maximize profits - if you give it 1/2 a minutes thought you would see that my goal would be to insure as many sick people as possible which would cause rates to go up and increase sales and maximize profits! 5% profit on a million dollars is $50,000. 5% profit on five million dollars is $250,000. Which scenario would you want?
Now in fact insurance companies do not go to either extreme but try to service a random base of people to allow them to run a successful and profitable company.
What doesn't work is to get the Government involved with their inefficiences and corruption thereby forcing the insurance companies to effectively take more of our money from the Government coffers because of the ease of doing so. And the Government is much too involved, even .without Obamacare.
UNINTENDED CONSEQUENCES is the result of all leftist thinking. The FREE MARKET minimizes unintended consequences!
posted by Jim | 8:30 AM
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