Remember how the saintly, beneficient Speaker Pelosi called out the unadulterated, unregulated profits of those horrible, profiteering, no good, terrible, dastardly, evil villains health insurance companies? Here are net after-tax margins (relative and absolute) of United Healthcare (UNH), Wellpoint (WLP) and Aetna (AET). Also included are number of medical policy holders, according to each company.
UNH: 3.7%/$2.97B/30M (est.)
WLP: 4%/$2.49B/35M
AET: 4.4%/$1.38B/19M
Dear reader, please don't take this as a defense of insurance companies. I don't like them any more than you do. But let's pretend Pelosi's right and health insurance profits are immoral. Fine. Take them all and distribute them evenly across all policyholders.
Thanks for the $80 check Nancy. Great job reforming healthcare.
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1 comment:
Yep, profit is immoral, so if we are to become a moral society, there will be NO jobs, because the reason companies are started is to make a profit. Years ago, I was taking a business policy course at Northwestern on the way to completing my Batchelors Degree. The first night in class, the instructor asked what was the purpose of a business. I like the rest of the class had read the chapter assigned in the textbook which stated that the purpose of a business is to provide goods and services. Another student answered the question by repeating what he had read in the textbook. The instructor congradulated him for being correct, and I raised my hand immediately. I said the book and the instructor were both incorrect. The purpose of a business is to make a profit I said. To which the instructor said I was dead wrong. I retorted, how long will the business last if it has no profits. Dead silence from the instructor, and then the class started to buzz, hey just how long will a business continue without a profit. It was quite a discussion and I smiled!
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