I am one of those evil successful people who needs to give his "Fair Share". I have been listening to the health care debate. I have read the giant bills congress has created, which seems like 2000+ pages to essentially say "We will force 240M Americans to pay for the insurance of 30M other Americans". The more the press, politicians, etc talk about the Affordable Care Act, the more I feel like I am a bad guy in some way or manner.
Occasionally I have been at a dinner or some other social event when someone says, "Jim what do you do to contribute to society". That's easy, "I create jobs". To which they say, "No, what do you do for for society? The poor and the indigent". I thought I answered them the first time.
I do one thing very well and that is, help innovative ideas turn into full scale businesses that employee a lot of people, creates a lot of opportunity and pay a lot of taxes. I have a specific talent for innovation and business creation. I really don't do anything else well. Occasionally I have thought I might become a rescue dog person, you know the kind that goes to earthquakes and helps find people with their German Shepard. But, I really want to do that because I love training German shepherds. I am not sure that counts for the "contribute to society" question.
I work very hard and do not take care of myself. I pay all my taxes. I don't try to play the “edge” on my taxes as I have a right to do. I probably will drop dead of a heart attack at some point, so I doubt I will burden the health care system much. I don't use my power to get to the front of the line. I travel on commercial airplanes rather than private jets. When people need help around me I find them jobs, give them money, or help in anyway that is appropriate. But, President Obama, Speaker Pelosi, Leader Reid, and others say I need to do more to help others. I need to give them more money so they can offer health care to others.
When I do give money to a cause, I normally find that there is some form of acknowledgment by the institution (Did the IRS ever send you a “Platinum Card” thank you note?). I am often asked to join the board to help the cause do more and expand its success. I am asked for financial and intellectual contributions, respecting that my success in business might help the success in the cause. I am not sure that is always correct, but it is what it is.....
So, our dear government, as you reach into my pocket let me give you the benefit of my 20+ years of business success creating 20K jobs, generating billions in revenue, collecting 3M+ frequent flyer miles, starting 30+ businesses, and paying millions in taxes.....
Its a "False Choice" to suggest health care is broken and this plan is the only fair way to provide health care to 30M. My biggest lesson from business is to look for solutions that mitigate risk, not create them. Given a choice of an Ivory Tower perfect plan vs. a mundane partial solution derived from market feedback, I take the mundane. If the government wanted to deliver health care to more people, they should do what has worked in our economy (not Europe), like Health Savings Accounts.
Wal-Mart has done more to help society, by driving down food cost, than any government program. The United States is unique in its ability to innovate. Ironically, It appears that government doesn’t really care about the 30M uninsured. Because if they really did, they would choose a low risk proven solutions (like HSAs) rather than unproven, innovation constraining, government intervention. If government really cared about delivering affordable care to more people it would choose innovation over Government intervention. There is no way for the CBO to properly score what will happen under the Affordable Care Act, because markets will not follow the Government doctrine:
- Entrepreneurs will pursue business elsewhere because innovators don't like a game that is fixed. With less innovation, costs will go up.
- The wealthy, responsible for paying for increased costs, will work less thus reducing the revenue (Tax receivables) forecast
- More free Helath Care will increase moral hazard, thus increasing cost
- Pre-existing condition requirements will increase insurance cost, directing anger towards health insurance companies, and driving for more government regulation, ultimately leading to government take over
- Government will never move at the speed of the market, as new technologies are developed or patient needs change it will take years for government to alter polices to allow health providers to provide better solutions.
I don't know what the motives are of those pushing for this health care bill, but I doubt it really has anything to do with better care. It likely intends to increase government resources and congressional powers. But as the person paying for it, I vote no. And interestingly, I have the choice not to participate by not working. I am not sure what the President will do next if I don't work. Maybe he will require all successful people to gather at a work camp to deliver our services to the nation. Unlikely. All I can offer as an evil rich guy is: I am tired of others reaching into my pocket and telling me how I should behave, given that I have done everything possible to contribute to society by creating jobs and opportunity. Congress has no moral high ground in this argument, but the do have the power. Its a sad day.
