Thursday, June 25, 2009

Why You May Be Stuck Holding The Bill For The Largest Taxpayer Rip Off

By Dean Baker

This is the time when the excrement starts hitting the fan. The lobbyists are in overdrive, rounding up members of Congress just like the cowboys of the Old West would bring in the herd.

The industry groups will also have their friends in the news media working overtime hyping any possible obstacle to health care reform. And they are filling the airwaves with scary ads, warning that people will never be able to see a doctor again if meaningful health care reform passes.

Since there are trillions of dollars at stake, the effort is understandable. The basic story is simple. The insurance, pharmaceutical and medical supply industries, along with the hospitals and the American Medical Association, have rigged the deck so that they get rich at the public's expense. They have structured our health care system so that we pay more than twice as much per person as people in other wealthy countries, even though we get worse care by many measures.

The bloat in the health care sector is projected to grow rapidly over the next decade as health care consumes an ever larger share of the economy. The Centers for Medicare and Medicaid Services (CMS) reports that just the increase in health care spending share of the economy over the next decade will cost us $4.3 trillion. That is equal to a health care tax of $57,000 for an average family of four.

Read the rest of Dean's blog here.

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