Buffett Should Stick To What He Knows

I don’t know how many times Warren Buffett will have to be wrong before people stop listening to him. I know he is pretty good at investing and he has billions of dollars but he should probably stick to the things he knows in order to avoid looking like a fool. Buffett once quipped about the fact he paid a lower tax rate than his secretary despite making so much more. His income was from capital gains and hers was ordinary income. Both are taxed at different rates (capital gains are lower). The liberals ran with his statement to make the claim the rich do not pay their “fair share.”

Buffett was recently interviewed on PBS and he stated that America needs to go to a single payer health care system like the one in the UK. He stated America could afford it as a wealthy nation and that this is what will solve the health care issues.

To be fair, Buffett did state he was not an expert on health insurance. He probably should have ended there but he kept going and that made him the fool once again.

WOODRUFF: “Something that affects all businesses is the cost of health care in this country and you’ve been vocal about that. You argue right now, in fact, that the cost of paying for health care can affect a company even more than taxes.”
BUFFETT: “Well it does. I mean in terms of our competitiveness in the world; health care in 1960 was 5 percent of GDP. And there’s only a hundred cents to the dollar. So it’s gone from 5 percent to 17 percent. And it keeps going up. Corporate taxes have gone down from 4 percent to 2 percent. So corporate taxes are way less of a factor in American competitiveness than overall business than medical costs.”
WOODRUFF: “As we sit here today in Omaha, the Republicans in Congress are madly trying to figure out what to do to replace ObamaCare, the Affordable Care Act. Do you have a firm idea in your mind what ought to be done about ObamaCare? Everybody acknowledges there’s been some problems.”
BUFFETT: “I think that’s way outside of my circle of competence. But I would say this. You can’t have that five go to 17 and move on to 20 and 22 or 24 percent, because there are only a hundred cents in the dollar. Health care is gobbling up well over $3 trillion a year. It’s just about the same as federal, the federal budget, I mean it’s getting up there.”
WOODRUFF: “Are we now at the point where the country does need to think about some sort of single-payer system in some more or another?
BUFFETT: “With my limited knowledge, I think that probably is the best system. Because it is a system, we are such a rich country, in a sense we can afford to do it. But in almost every field of American business, it pays to bring down costs. There’s an awful lot of people involved in the medical — the whole just the way the ecosystem worked, there was no incentive to bring down costs.”
WOODRUFF: “It sounds like what you’re saying with a single payer system it’s easier to figure out a way to?”
BUFFETT: “More effective, I think.”

We can’t afford 22 or 24% of GDP going to health care but the government can afford to pay the bill? Now I know that Buffett thinks a single payer system will reduce costs but he is wrong. The government never does anything efficiently and it never does anything UNDER budget. One only needs to look at Medicare (>$79 Trillion in unfunded liabilities) to see how inefficient government is. That program costs billions upon billions more than it was ever estimated to cost and shortfalls are addressed by reducing the amount doctors are paid for the care they provide. And what assurance do taxpayers have that once government controls health care it won’t start adding to the program? Look at Social Security (>$15 Trillion in unfunded liabilities). The government established that socialist program many decades ago and has added to it along the way so that now we have untold numbers of people on disability or some other aspect that was added. We can’t afford to sustain that program because government mismanages it and keeps adding treats to the Christmas tree…

Any person, and Buffett should pay close attention here, who thinks single payer government run insurance is good should look closely at the Veteran’s Administration. That program is a single payer government run program that only involves a small portion of the population as a whole but it is rife with waste and abuse. It is a fiasco that costs so much there are talks of decreasing other military programs to move money to the VA. There are long lists and veterans wait for months, or longer, to be treated. Many die before they are ever seen. This is the kind of program the uninformed like Buffett want for all of us.

Buffett tells you we are a wealthy nation and can afford it. This flies in the face of reality because the government is 20 TRILLION dollars in debt and has unfunded liabilities that exceed 100 TRILLION dollars. We are not a wealthy nation. We are dead ass broke because of people like Buffett and their belief that government can provide, do it all and afford it.

Government can’t because the taxpayer can’t and that is the bottom line.

A few more notes. Buffett is old and will be dead before anything like he proposes would ever take place. He won’t have to deal with it and even if he lived his wealth would ensure he never had to deal with it (neither will his heirs). It is also important to note that in the interview Buffett claims that businesses can’t afford health care costs but government can [so basically, the burden should be shifted]. I have already shown government can’t afford it but the bigger picture here is that Buffett, a business man, is talking about how to make his (and all) businesses more profitable. He wants to do that by putting the burden of health insurance on the government thus clearing businesses of that debt and burden. Of course Buffett would claim government (read the taxpayers) can afford it. He wants people to embrace this socialist crap so his businesses will be more profitable.

Buffett admitted this was not his expertise. Perhaps he should have left it at that instead of offering his opinion on something he is woefully unprepared to address.

To recap, Buffett does not know what he is talking about, single payer is a terrible idea, increasing the GDP will lower the percent of GDP health care costs and opening the market for insurers will give people choices that will reduce costs without involving the government. The government cannot do anything on a budget.

Anyone who wants single payer should move to the UK and live there for the rest of their lives. They get what they want and the rest of us are not burdened by their stupidity.

Related:
US Debt Clock

ΜΟΛΩΝ ΛΑΒΕ
Cave canem!
Never surrender, never submit.
Big Dog

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Congressional Republicans Are Cowards

It is easy to be brave and take a stand when there are no consequences. We see this all the time in politics when a member of the House or Senate is up for reelection and there is a vote on something that person’s constituents do not like. After the numbers are counted if the measure will pass without that member’s vote then the leader gives permission for the member to vote against the issue thus painting a picture of a person who works for and listens to the people.

It is all hogwash. It is political theater at its finest and the Republicans in Congress have their theatrics on full display. There is no way for them to hide it like is normally done because all of them are shown for the hypocritical cowards they are.

What am I talking about, you ask?

Well, it is about Obamacare. You see, a long time ago that horrible bill passed without any Republican support. Republicans told us if we wanted to do anything about it we needed to put them in the majority. We did that in the House and gave them a commanding lead. House Republicans, “emboldened” by their new majority passed a few bills to repeal Obamacare. But they went nowhere so we were told that we needed to give them the Senate as well.

We did just that so now, with the House and the Senate, Republicans went about passing bills to repeal Obamacare. Those went nowhere because of procedure and because Obama, as president, would veto any bill that repealed his socialized medicine law. Give us the White House Republicans cried and we will get rid of Obamacare. We will repeal it because it is no good but we need the White House.

So we gave them the White House and suddenly there are no repeal bills. There is talk of fixing Obamacare or repealing and REPLACING it with something else. There is talk of everything except repealing it and there have been no bills introduced.

It should be very easy. The Republicans could introduce the bill they last voted on when Obama was in office. They all vote on that repeal bill and once it passes both chambers it goes to Trump to be signed into law, presto-chango the law is repealed.

But you see, that would require courage. It took no courage to pass bills repealing Obamacare when the Democrats had the Senate and the White House. Republicans could talk tough and pass a bill repealing Obamacare knowing full well it would never make it to law. There was no risk but lots of reward. The members could go home and tell people they voted to repeal but doggone it without control of Congress and the White House they just couldn’t do it. Look, we tried hard and we passed a full repeal and by golly if we had control Obamacare would be on the ash heap of history where it belongs, can you support me with $25, or $50 or even $75 as I fight the evil Obama machine?

They were so courageous when there was nothing to lose and when the bills could not possibly pass.

But now that Donald Trump won and Republicans have full control of the government these brave warriors have put the brakes on and are taking a longer look. They are also discussing ways to REPLACE Obamacare rather than just repealing it as they promised when they had nothing to lose.

They talk now of people who will lose coverage and angry voters who might vote them out of office if they repeal this albatross. They are being more cautious because now there will be consequences for their actions. It is easy to talk tough when you have no risk, or as Joe Biden might say, skin in the game.

Once the risk is there the risk averse Republicans cower in the corner with their thumbs in their mouths.

What they need to fear is the backlash of the voters who supported them and voted for them BECAUSE they said they would repeal Obamacare. What they should fear is the base of voters who will primary them or vote for their Democrat opponent if they do not do as they promised and as they did when there was no risk and vote to REPEAL (and not replace) Obamacare.

They can give it a sunset date so that people on the exchanges have time to transition but they MUST repeal this thing or they will pay a political price.

My Congress critter is Dr. Andy Harris. I will NOT vote for him for anything (primary or general should he win the primary) if Obamacare is not repealed.

I don’t want to hear excuses or be told I don’t understand or that it is complicated or any other BS from Harris or any other Republican.

All you need to do is sack up and vote for the very last repeal bill you passed when Obama was there to save you from actually accomplishing the task.

All you have to do is pass the repeal bill and sent it to President Trump to sign.

Ann Coulter has an idea on how to replace it

Cave canem!
Never surrender, never submit.
Big Dog

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Does Obamacare Cover Federal Assault?

Obamacare was passed in order for government to control more of our lives and the real reason many Republicans won’t really fight to get rid of it is because they like control as well. When government controls your health care it controls you (and when it takes away your firearms it completely controls you and you have no means to resist).

Obamacare is so wonderful that it had to have penalties built into it to force people to join. It was sold on the promise that it would not affect those who had insurance but many folks ended up losing the doctors and insurance coverage Barry Obama promised them they could keep. Those who figured it would not affect them were suddenly caught up in the mix and were subject to the rules and penalties.

Let me be clear, regardless of what Chief Justice Roberts calls it, the money paid for noncompliance is a penalty. Obama ran around the country screaming that this was not a tax and he even chided George Stephanopoulos for suggesting it was a tax at which time Obama enthusiastically informed him it absolutely was not. It is a shared responsibility penalty.

The law called it a penalty and Chief Justice Roberts and those who sided with him got it wrong. It is a penalty for not buying something government wants you to buy (even the linked article below calls this a “federal penalty”).

How would liberals act if the government passed a law that forced everyone to buy a handgun (to curb crime which has a major economic impact) and then fined (oops, taxed) them if they did not?

But back on target. Those penalties are now coming into full swing (they were lower in the beginning) and many folks will be socked with a pretty big bill from the IRS if they do not have insurance.

This amount will either be added to what they owe or deducted from their refund. Either way many folks will end up losing money simply because they did not purchase something they did not want (or could not afford).

Obamacare needs to force people, even those who are young and healthy or able to pay out of pocket, to sign up in order to pay for everything it promises.

The Obama regime plans to remind people of this penalty during the upcoming enrollment season. The idea is to scare people into signing up because without those folks paying in for things they might not want or need the entire thing goes belly up.

The idea of lower costs is out the door as premiums are going up again next year. Perhaps those without insurance are causing the problem but the more likely reason is that this federal monstrosity is very bloated and expensive.

It has to be in order to make the government bigger, to control our lives and to achieve the liberal goal of wealth redistribution.

No one should be forced to buy what they do not want or to pay for things for other people. But, people should pay their own bills if they end up needing medical care (payment plans work for more than cars and cell phones).

Last year the total amount of penalties collected by the IRS was 1.5 BILLION dollars. I only hope that most of it affected liberals who supported Obamacare.

I also hope the larger penalties will affect them as well.

Cave canem!
Never surrender, never submit.
Big Dog

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More Obamacare Failures

Looks like the AFFORDABLE care act is not so affordable after all…

There is a report that CoOpportunity Health, an Obamacare created insurer, might end up costing taxpayers millions of dollars because it is going belly up.

Yep, the great socialized medicine experiment that continues to be a disaster is claiming an insurance company set up specifically to provide insurance under Obamacare is losing money and will die a long and painful death, painful to the tune of 140 MILLION taxpayer dollars.

This is but another piece of evidence that Obamacare is a disaster, costs too much, and will end up adding to the financial burden taxpayers already have.

Now this company might end up staying in business but it will only do so if the taxpayer injects millions of dollars into the company. That will allow it to pay some bills and continue operating but at what future cost?

If it was unable to make it in the lean years of Obamacare what will happen when the additional burdens that were pushed off to avoid election issues kick in? Will the company continue to lose money hand over fist and will the government dole out more taxpayer money in the same fashion?

That was the bad news. The worse news is that there are six other co-ops that are in deep financial trouble because of low enrollment and “other pressures” (read expensive regulations and rules coupled with high costs for service).

The really bad news is that Louisiana Health Co-operative will shut down at the end of the year for many of the same reasons.

Obamacare insurances are failing in a market that Obama and his supporters claimed would be friendly to insurance companies and those they insure.

I guess everyone who said these things would be a disaster were right all along.

Don’t expect Obama or those who rammed all this down our throats to report the bad news or take responsibility.

Liberals are morons who want you to believe that it is possible to pick up a turd by the clean end….

Cave canem!
Never surrender, never submit.
Big Dog

Gunline

Pelosi Should Be Put Out To Pasture

Nancy Pelosi is warning that if the Supreme Court rules in favor of those challenging the subsidies in Obamacare win it will cost Republicans because allegedly 8 million people have the coverage and rely on them. She predicts that it will harm all those folks and Republicans will pay a price.

She claims that this is all because a phrase in the law has been taken out of context.

Pelosi said she knew the law well and that opponents were relying on a phrase taken “out of context” in pressing their case before the court. AP News

The woman who said you had to pass it to find out what was in it now claims that she knows the law well? The same law that continues to have surprises pop up because no one knew they were there?

Right…

As for out of context, the Democrats made it clear that only states that set up exchanges would get subsidies when they were pushing the bill on us. They made it clear this was a carrot and stick approach where states would be provided incentives to set up exchanges and one of the incentives was subsidies.

Now that someone has challenged that part of the law the Democrats have rewritten history and are claiming this is what they meant all along.

They are liars as is Pelosi.

I do not think Republicans will pay a price for this if the ruling in their favor. The law says what it says and that is how it should be followed.

Of course liberals have trouble with following the wording of the Second Amendment (hell all of the Constitution) so I expect them to be clueless in this regard as well.

Cave canem!
Never surrender, never submit.
Big Dog

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