Democrats Also Seem To Have A Problem with Mathematics

It looks like the Democrats are starting to try to punish the health insurance companies for daring to have an opinion as to whether they want their business destroyed by health insurance reform. The Democrats are currently threatening to repeal their exemption from antitrust. And check out some of Harry Reid's comments on the industry"

“There isn’t anything we could do to satisfy them in this health care bill. Nothing,” Reid said. “They are so anti-competitive. Why? Because they make more money than any other business in America today. . . .What a sweet deal they have.”

There is zero truth to this statement. Currently Health Care Plans rank #86 out of the different sectors in the economy with a 3.3% profit margin. And this is further proof of why that PwC report on health care premiums rising after "reform" is right on the money. With such a razor thin operating margin and a change in the rules so that they need to accept all-comers irrespective of health or pre-existing conditions means that in order to avoid bankruptcy they will definitely HAVE TO RAISE PREMIUMS. It's just common sense, and math. But I guess Harry Reid isn't smart enough to do simple math.

Also, it's amazing how the Democrats have decided to punish any industry that they think is making too much money. Remember how they were talking about a windfall tax on the Oil companies (who are #23 in terms of profitability with a 9.7% margin) last year? It seems like they just want to knock down anybody who they consider to be "up". It's a great recipe for mediocrity. And stagnation.

It really makes you want to just "go Galt" and watch these people scramble.