Start Here

Peter Schiff: Wrong on the Economy, Wrong on Healthcare (Part 3)

From what I can tell, the ONLY thing Mr. Schiff understands about healthcare is the poor design of private medical insurance. The current system does not provide real insurance. It’s nothing more than a system of pre-paid medical, operating with the rules of insurance. And this has created a huge source of fraud by private insurers. Assuming we keep the basic structure of private insurance in place, it should be modified to provide assistance under some catastrophic, emergency situation rather than routine care.
However, what Schiff fails to recognize is that by placing everyone on a high-deductible medical plan, most people would actually end up underinsuring themselves. This has already happened. According to a study by Harvard researchers, 68% of all medical bankruptcies (50% of all bankruptcies) occur with people who have medical insurance. A system of universal coverage would serve to fill in the gaps catastrophic insurance leaves out.
For many years now, Washington’s response to America’s runaway healthcare costs has been the addition of new tax deductions. But we cannot forget that tax deductions do absolutely nothing for those who have lost their jobs. You need income in order to utilize tax deductions.
More so than anything else, tax deductions provide yet another tax shelter for the wealthy, while encouraging further cost increases from the healthcare industry, knowing you have no choice but to pay whatever prices insurers stick you with.
More important, Schiff fails to understand that people must be provided with basic care instead of waiting for a small problem to progress into a deadly and costly illness. It’s called preventative medicine; an important component missing from America’s healthcare system because the insurance industry doesn’t want to pay for it.
I find it mysterious how someone who claims to be an expert in economics is unable to appreciate the fact that taxation of healthcare benefits would create a permanent drag on consumer spending.  There is a solution, but Schiff has no idea what it is.  As far off from the solution as Obama is, Schiff is light years away. 
The solution is some combination of universal healthcare, radical policy change, and technology.  A system of universal coverage would save hundreds of billions of dollars annually after streamlining the bureaucracy and slashing the huge administrative costs from the private insurers. 

This article continues.

To continue viewing this entry please sign in to your Client or Member account.

Print article

Restrictions Against Reproduction: No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the copyright owner and the Publisher.

These articles and commentaries cannot be reposted or used in any publications for which there is any revenue generated directly or indirectly. These articles cannot be used to enhance the viewer appeal of any website, including any ad revenue on the website, other than those sites for which specific written permission has been granted. Any such violations are unlawful and violators will be prosecuted in accordance with these laws.

Article 19 of the United Nations' Universal Declaration of Human Rights: Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.

This publication (written, audio and video) represents the commentary and/or criticisms from Mike Stathis or other individuals affiliated with Mike Stathis or AVA Investment Analytics (referred to hereafter as the “author”). Therefore, the commentary and/or criticisms only serve as an opinion and therefore should not be taken to be factual representations, regardless of what might be stated in these commentaries/criticisms. There is always a possibility that the author has made one or more unintentional errors, misspoke, misinterpreted information, and/or excluded information which might have altered the commentary and/or criticisms. Hence, you are advised to conduct your own independent investigations so that you can form your own conclusions. We encourage the public to contact us if we have made any errors in statements or assumptions. We also encourage the public to contact us if we have left out relevant information which might alter our conclusions. We cannot promise a response, but we will consider all valid information.


Killing You with Drugs: Legally

Is there any reason why Pfizer shares are down today?   Just yesterday, shares were trading at ~ $17.30. Today, with the DJIA up by 0.7%, Pfizer is down by nearly 1%.  ...

Is US Health Really the Best in the World?

For years, industry hacks and political opportunists have paid off America's media monopoly to ensure its audience remains in the dark as to the realities embedded within America’s broken h...

ObamaCare: Soon to be the Worst Bill Passed in U.S. History (Part 1)

With Obama’s healthcare bill ready to sign, democrats are celebrating. Meanwhile, (supposedly) enraged republicans insist payback will come in November. This is part of the typical back-and-fort...

ObamaCare: Soon to be the Worst Bill Passed in U.S. History (Part 2)

Continuing from Part 1...   Back in the 1990s, when President Clinton proposed price caps for health insurers, the industry engineered a massive smear campaign, defusing the plan before it even...

Another Example of America's Highly Flawed Healthcare System

Soon, my latest book, America's Healthcare Solution will be released, allowing those with an interest in the healthcare system to see precisely what is wrong with the healthcare system. And as th...

Confessions of a Drug Rep

If America ever expects to fix its broken healthcare system, all the problems must first be identified. Only then can a solution be engineered. While Obama's plan certainly provides no real solution,...

ObamaCare Spells DISASTER for Americans (Part 1)

Most Americans have been fooled into thinking one party has the solutions to the nation’s problems, when the facts paint a much different picture. You need to understand that both parties are th...

ObamaCare Spells DISASTER for Americans (Part 1 con'd)

But of course Wilson gave his support for a bill signaling great news for physicians, health insurers and the entire medical-industrial complex.

ObamaCare Spells DISASTER for Americans (Part 2)

In part 1, I discussed the illusions of America's democracy, and pointed to the media as a key player in the web of deceit that has fooled most Americans to think they live in a democracy. I also...

Profiting from ObamaCare

I wanted to alert all subscribers that I just sent out a Mid-December special report: Profiting from ObamaCare, in which I lay out what I feel will represent a very good ch...

Kudlow on Healthcare: Wrong as Always

I wanted to see what Larry Kudlow was up to with his latest propaganda so I checked a site he recently began making posts on. Let’s have a look at Kudlow’s healthcare propaganda.

America's Healthcare Solution

Would you like to become a virtual expert in healthcare in a few days? You will, if you read my new book, America's Healthcare Solution.

Americans Get Screwed Again by Bought-Off Washington Officials

After meeting yesterday to wrap up the final touches on the Senate Finance committee's healthcare reform bill, Committee Chairman, Senator Max Baucus - a very good friend of the healthcare industry, h...

The Healthcare Reform Legislation Process

I just ran across this outstanding video presentation explaining the complex process associated with passage of healthcare reform.  I highly recommend you have a look.  

Ron Paul: Wrong on the Economy, Wrong on Healthcare (Part 2)

According to Paul, healthcare should be run like mobile phone providers!  Okay let's see. Mobile phone carriers tie you into legally-binding service contracts with extortionist penalties for...

Ron Paul: Wrong on the Economy, Wrong on Healthcare (Part 1)

While I do agree with Congressman Ron Paul's position on the Federal Reserve, this by no means should be used as a blanket endorsement of his political and economic views; and certainly not his views...

Peter Schiff: Wrong on the Economy, Wrong on Healthcare (Part 2)

Lesson #5: Extremists are Always Useless and Often Dangerous Certainly, President Obama is not going about things in a manner I would advise. But Peter, you cannot use his extremist approach (or I...

Peter Schiff: Wrong on the Economy, Wrong on Healthcare (Part 1)

I normally don’t bother myself with reading personal views pumped out throughout the Internet. But I came across one of Peter Schiff’s pitches demonstrating just how off the mark he remain...

Obama: Wrong on the Economy, Wrong on Healthcare (Part 2)

Continuing from Part 1... Perhaps the most obvious sign of weakness, Obama’s healthcare proposal specifically ignores the number one problem with healthcare in America – cost. Providing g...

Part of the Problem With Healthcare in America....

A couple of weeks ago, I ran across a fantastic article by a physician who sought to understand why there are such large differences between healthcare costs in different cities. It's truly a gre...

Obama: Wrong on the Economy, Wrong on Healthcare (Part 1)

If you’ve been following my commentaries, you’ll recall how poorly of a job I feel Obama is doing. Perhaps you realized this on your own. But just in case you have any doubts, you might wa...

Healthcare for You. But Only if You Can Afford It

Fresh off the press, the mystery behind Steve Jobs' medical leave of absense has been revealed.  According to the WSJ, he recently received a liver transplant.  My question is, how was Mr....

0:00
0:00