That was a whole lot of nothing in response to my point that the 2.2% profit margin was a fact without contest.
However, I will say that the right to own private property is meaningless without civic virtue. Placing property ownership over everything else is just as soulless as any collectivist regime can be.
We have an increasing wealth disparity in this nation that has never allowed for existence of a republic. If you want a case study in it, read up on Rome. Although, I keep forgetting America is "exceptional" so the lessons of history don't apply to us.
It's laughable that you worry about the characterization you make of me - basically a welfare case. Welfare is a pittance compared to the wealth that is being amassed elsewhere.
My only hope is that if the plutocracy does come to fruition before I die, that I get see the look on yours and the other naive "conservatives'" faces when the plutocrats gut you. The shocked look because your loyal servitude was not repaid in the way you think you deserve will be priceless.
Keep squawking, lackey.
The reason for the wealth disparity, in large part, is the welfare system. There never was any intent on the part of progressive/socialists to end the gap between the wealthy, and the poor. That was just a "red herring". Have you ever taken the time to notice that as the poor get poorer the rich get richer? The reason for that is the destruction of the middle class by higher taxation. As government programs increase the need for more revenue increases. The middle class cannot find ways to shelter their money, while the wealthy can. Then there is the factor that it is the wealthy that own the very enterprises the poor spend their welfare checks on.
Look at what is occuring now with the stock market. As the "stimulus" money is doled out the stock market goes up, brokers make record profits, more millionaires, and billionaires, are created, and the poor get poorer while the middle class struggles to keep their homes.
Then there is the fiat money created by the government.
As to healthcare, the bill just passed does nothing to lower the increasing costs of pharmacueticals, and hospital care. It only attacks the private insurer, and will certainly drive the country into deeper debt. You might want to read this article on the prifits of insurance companies which rank about in the middle, or the lower half, of the Fortune 500.
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20100221&id=11135924
Whether their profit margin should be 3 percent or 10 percent "is a much grayer area," Oppenheimer analyst Carl McDonald said.
By one measure, managed care companies make modest profits. Health insurers posted a 2.2 percent profit margin in 2008, placing them 35th of 53 industries on the Fortune 500 list. Drug and medical product companies both made the top 5.
"They're very much middle of the pack, but they've sort of been demonized in this health care reform debate," said Christopher Conover, a research scholar in Duke University's Center for Health Policy who has studied profit margins.
WellPoint's profits look outsized, in part, because it is a huge company. It had $65 billion in total revenue in 2009 and was the 32nd largest company on the 2009 Fortune 500 list, which is based on 2008 figures.
Some states have approval power over health insurance rates. But many, as is the case with California, do not. California and other states do, however, set a minimum percentage of premiums that must be spent on medical claims. California regulators require insurers pay at least 70 percent of the premiums they collect on individual insurance toward claims. WellPoint says it tops that percentage.
While insurers do aim to make money, analysts and actuaries say rising medical costs are the main driver of rate hikes. Many insurers are in competitive markets, and they have to be careful not to overprice, said health care consultant Dan Mendelson, president of Avalere Health.
"You wouldn't see a 35 percent increase in price because they're trying to make more profit," he said. "It just doesn't work that way."
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