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Friday, October 25, 2013

Obamacare

Chateau Heartiste resurrected a post of mine from April 2011, most of which was actually written by an anonymous commenter on iSteve.

Over two years after my original post, I am very sorry to report that there is still no such thing as free medical care. Canadian acquaintances never tire of telling me about their great and glorious "free" system. When you press them on the details, it turns out in addition to the higher taxes they pay for all the "free" medicine everybody also buys supplemental policies so they don't have to worry about a tumor metastasizing while they're in the queue for an MRI. Switzerland has a modified insurance model. Singapore has high deductibles. Most countries, your doctor is going to be a middle class professional, not a genius whiz-kid making well into the six figures. Few if any hospitals will be qualified for things like organ transplants. Few if any patients will ever get organ transplants.

The dynamics of the welfare state cannot be superseded. If you pay for people to be poor and sick, more of them will be poor and sick. Net consumption increases, and the State must resort to mass immigration and sheer money-printing to make the books balance. The newer, r-selected population is unable and unwilling to pay the taxes necessary to fund entitlements for ethnic strangers, and the productive sector shrinks as the State's deficit financing soaks up capital. At some point, the State must either cut off entitlements or default outright.

I know few details about Obamacare; nobody I know can provide a comprehensive explanation. So far, it appears to be the worst of all worlds. Socialized insurance, since there aren't enough tax dollars, and since the insurers can't price risk, then everybody has to pay for everything. Therefore, costs and premiums will continue to spiral upwards.

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