John Edwards has a health care plan
And it represents the best thinking nineteenth century economics can provide
Of all the potential presidential candidates vying for the Democratic nomination, none have taken a more active role in depleting the available resources of the health care system than John Edwards. Besides enriching himself and his clients to the tune of more than twenty million dollars, Edwards’ long on drama short on science courtroom antics have contributed to out of control malpractice insurance premiums. But don’t worry, John Edwards has a plan.
Essentially, this walking justification for professional juries intends to inflict a form of universal insurance with a government plan as the insurer of last resort. As usual, we are told that there will be reductions in cost while no details on how increases in demand accompanied by increasing regulation will result in lower costs.
Demonstrating a bit of self loathing and proving that misery really does love company, Mr. Edwards proposes tax increases of $120 billion a year on the nations wealthiest citizens and businesses. I guess he feels guilty for paying himself in dividends for years escaping the mandatory payroll taxes everyone that cashes a paycheck can’t avoid.
It might be a good idea for Mr. Edwards to get off of his considerable wallet and buy an economic text book. He might then realize that he would be hard pressed to come up with a plan that would inflate healthcare costs more. It will place massive new demands on existing resources while restricting the return on new investments. Note to John, when demand goes up and supply goes down, prices rise.
Let’s face it. Either John Edwards is a rich guy that is spectacularly ignorant of economics or he is pandering with new social programs that will place a tremendous burden on future tax payers. The only upside to his presidential bid is that it keeps him out of the courtroom.