A recent announcement by Elizabeth Warren, one of the democratic party front-runners for a presidential challenge in 2020 to the incumbent US republican president, represents a tacit admission that the democrats lack a cogent plan to reform the present system.
Her original proposal centered around providing universal healthcare, to be paid for with a “tax everything from the rich over a decade”, was incompetently disguised as a net-worth tax for those who had net assets in excess of $50 million.
A cursory review of the numbers indicated a shortfall sufficiently massive, that 100% expropriation of all assets, from the group in question, would have only generated enough capital to provide about 6 years of universal healthcare; the process of liquidating such assets would have beggared the remaining economy. Needless to say, the proposal is now being scuppered. The aftermath of putting forth such a proposal, along with a “demsplaining” webpage devoted to shaming persons such as Bill Gates, backfired badly for Ms. Warren.
Warren’s modified suggestion now centers around a medicare option for those who want an alternative to private healthcare. In the weeks to come, as the details of her modifications are, once again, determined to be unworkable without massive tax increases on the entire American population; this may spell an end to any remaining enthusiasm for the democratic platform.
In the latter part of 2018 and throughout 2019, democrats railed against the health care system in America, with a view towards earning votes. Over the past year, there has been significant pressure upon private sector businesses that serve the public. UnitedHealth Group, a member of the DJIA and the largest company in the marketplace, was vilified.
An abatement of negative press from the democratic party should represent the end of an omnipresent headwind. Should UNH recover its lost ground, there is potential for the DJIA to break 30,000 in the coming months.
Leave a Reply
You must be logged in to post a comment.