McCain's belief in the power of the free market to meet the nation's health-care needs stunned a couple of people in Arizona. The always unpredictable and forever raising eyebrows John McCain, in a speech at a cancer research center, dismissed calls for universal health care as riddled with "inefficiency, irrationality and uncontrolled costs."
McCain said the 47 million uninsured Americans will get coverage only when they are freed from the shackles of the current employer-dominated system.
Said McCain, "You see, all Americans have been forced to get their health care coverage from their employers. Why should employers pay for health care? And why should government pay for health care? Only the Free Market should pay for health care."
McCain explained that his free market proposal, health care costs would decline as the market righted itself to the supply and demand of health care consumers. To illustrate, the 47 million people in the richest country in the world would drop out of the demand side of this supply / demand equation, thereby reducing government spending on wasteful health care costs for people who will probably die anyway while diminishing the demand, by attrition, for health care. As these 47 million are eliminated from the market demand, health care costs will adjust to consumers who have little or no costly demand for health care - yet.
In addition, McCain proposes tax incentives, shifting costs away from corporations to individuals, thereby ending employer-based coverage.
McCain seeks to lure workers away from their company health plans with a $5,000 family tax credit and a promise that, left to their own devices, they would be able to find cheaper insurance that is more tailored to their health-care needs and not tied to a particular job or health care condition.
"It would help change the whole dynamic of the current system, putting individuals and families back in charge, and forcing [insurance] companies to respond with better service at lower cost. No different than what we have done with the telecommunications, financial, airline, and energy industries."
To date, no one has told Senator McCain that the free market died a long time ago.
The Yeetle Box