How amazing that some representatives have their head stuck in the sand. Paul Ryan (R-WI) talks about the role of competition in bringing down health care cost. He proposes replacing medicare with private health insurance such that competition among private firms will bring down health care cost. Can it be that his advisers has no idea of basic Economics 101 and the oligopolistic natyre of the health care insurance industry. What a shame that the fate of our great nation should be allowed to rest on the shoulders of such representative with such limited or in this care zero knowledge of the issues they legislate.
He also argues that the competitiveness of the United States corporations is dependent on lower tax burden. I believe the representative must have selective anmesia. Did he not hear of the recent out cry on the amount ot taxes paid by gaint GE!!! A causry glance at the financial statement of US firms will show that taxes are not the problem. Overhead costs and cost of goods sold are the leading cause of the inability of United States firms to compete. Taxes as a percent of sales are under 4% on the average. The so called high income earners who need lower taxes as an incentive to investment in new ideas is just a myth employed by the likes of Paul Ryan. More than 80% of new jobs are created by entrepreneurs, with modest means not the top 2% income earners whom he cares about.
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