Monday, November 02, 2009

Health-Care Industry - Immoral Profits?

Nancy Pelosi said recently:

I’m very pleased that our Chair of our Democratic Congressional Campaign Committee and member of the leadership will be talking too about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years.

So, what is the margin of immoral profits? Well, obviously to Mrs. Pelosi it is to make a profit at all. If she had crunched the numbers before making such an obvious bull-sh*t comment, she would have been ashamed of herself. One look at Google Finance or the Wall Street Journal can disprove the claim from Pelosi that the profits are immorally high.

I will just give this link, which showas that profit margins are under 5 % (3.3 %) and the health-care industry as a whole is ranked on #86 of all industries when it comes to profits.
So, is this really so immorally high and absurd? Of course not, it can only be so for a person that despises any kind of profits and especially when they are made with handling sick people.
So, we should rather trust the government, they wouldn't make a profit. Yes, they wouldn't, but at the same time they would lose a money all over the place for really stupid reasons.

So, yeah, insurance companies are no gods and they have their problems, but they are still the best option we have (aside of paying for your own bills).

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