Ron Paul’s solution to the healthcare crisis, not surprisingly, is to get the government out of healthcare altogether.
We agree wholeheartedly with one part of that: Funding healthcare shouldn’t be an employers’ problem. Employer-provided healthcare is an outgrowth of mid-century wage controls. Whatever we do, we should get the burden off the country’s companies.
The proposals on the table, of course, will do exactly the opposite, fining companies that don’t provide healthcare. Ron Paul thinks the proposal will cost $2-$3 trillion.
Peter Gorenstein, TechTicker: Healthcare legislation is quickly picking up momentum in Washington. Three separate committees in the House of Representatives are hard at work hammering out details of a bill. Votes are planned today in the Education and labour and Ways and Means committees on a plan that majority House Democrats presented this week. The legislation seeks to provide coverage to nearly all Americans by subsidizing the poor and penalising individuals and employers who don’t purchase health insurance.
Meanwhile, the Senate Health committee on Wednesday approved its own version of a bill. Their plan sets up a government-run insurance system to compete with private insurers, and like the House, requires many employers to provide insurance for their workers or face penalties and requires individuals to purchase their own insurance.
Each proposal carries an estimated price tag of about $1 Trillion over the next decade. And that figure will probably balloon says Rep. Ron Paul. “They’ve never been right on projections of medical programs,” referring to his colleagues in Congress, “they’re always off by 100%, 200%. It always costs a lot more.”
As you my have guessed, the independent minded Paul, is no fan of government involvement in healthcare. In this accompanying video exclusive, taped at the Capitol Hill Rotunda in Washington D.C., Paul, who is also an M.D., opens up to Aaron Task about his concerns regarding the government taking a larger role in the medical game.
As far as the Texas Congressman is concerned, healthcare is not a right. “I don’t have a right to medical care,” he emphatically states. In his view, the constitution only guarantees citizens “life, liberty and (the right to) keep the fruits of my labour.”
Don’t be mistaken, he’s very clear to point out, he is in favour of all citizens receiving medical care. “I want everybody to have maximum care at the best price. And that’s why I want the government out of it completely.”
Well, agree with him or not, even he admits some form of a bill will probably pass. Reports indicate, if the Democrats find support in both Houses that bill could arrive on President Obama’s desk by October.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.