A Tax Cut a Day Keeps the Doctor Away

The Republicans’ Big Beautiful Bill Act will cause at least 10 million Americans to lose their healthcare coverage due to sweeping budget cuts to slash taxes for corporations and wealthy individuals. That’s very close to the number of 2020 Biden voters who refused to turn out for Kamala Harris in 2024. Would they turn out for a Democrat in 2028 to express their displeasure? Not if the loss of healthcare has the desired effect.

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  • I have often believed that profiteers convert the things that are supposed to be “boring” into gambling in order to become rich. Mortgages were supposed to be boring. Healthcare should be a near zero profit insurance system. In fact most consumer insurance should be near zero profit-not because of the need for controls over the economy but because the goal of these systems should be continuity and not speculative growth. These should be more boring than treasury securities. There should not be a vehicle economically to drive for higher profits, dividends and shareholder value because they should operate for the purpose of having enough reserve capital to backstop a catastrophe and be able to pay the employees and paperwork costs. Making that sort of thing opaque and driven by shareholder value doesn’t serve the patients or people paying for insurance.

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