Why privatize insurance? It's an industry that doesn't innovate. (drug, premium, military)

[LogicIsYourFriend]

Free market capitalism is important for society, because it fosters competition and greed which in turn fosters better products and services. But insurance can't get any better; by nature it's stagnant and doesn't innovate. So what's the point of privatizing the insurance industry?

The only real difference I see is private insurance companies get to make a profit (e.g. million dollar bonuses) whereas a public option would be 'non-profit' and wouldn't fill CEOs' Swiss bank accounts with our over-payments.

[lifelongMOgal]

Originally Posted by LogicIsYourFriend

Free market capitalism is important for society, because it fosters competition and greed which in turn fosters better products and services. But insurance can't get any better; by nature it's stagnant and doesn't innovate. So what's the point of privatizing the insurance industry?

The only real difference I see is private insurance companies get to make a profit (e.g. million dollar bonuses) whereas a public option would be 'non-profit' and wouldn't fill CEOs' Swiss bank accounts with our over-payments.

So you argue that anything that doesn't innovate and the profits should belong to the federal government?

Do you not see that the private industry actually creates real jobs? Puts real weath back into the system?

Would you say the same of the drug companies? Of medical technology development?

[Lafferty Daniel]

Originally Posted by lifelongMOgal

So you argue that anything that doesn't innovate and the profits should belong to the federal government?

Do you not see that the private industry actually creates real jobs? Puts real weath back into the system?

Would you say the same of the drug companies? Of medical technology development?

Oh okay. So I guess teachers, cops, and the military aren't real jobs and they don't put real wealth back into the system. I guess when my brother who is in the Air Force doesn't have a real job and doesn't make real money. Must be like Monopoly money then.

[LogicIsYourFriend]

Originally Posted by lifelongMOgal

So you argue that anything that doesn't innovate and the profits should belong to the federal government?

I'm saying there shouldn't be profit in an industry that doesn't innovate. All the money we pay should go to the service, but instead a good chunk of it goes to big bonuses for people who don't give us anything new except more expensive premiums.

Do you not see that the private industry actually creates real jobs? Puts real weath back into the system?

Do you not see that government jobs are real jobs too? See Perkins Well's post.

Would you say the same of the drug companies? Of medical technology development?

No, those industries innovate.