"Healthcare Industry Oligopoly Drives US Economic Woes: Congress Urged to Take Action and Embrace Social Capitalism"
Fort Myers, Florida Apr 20, 2023 (Issuewire.com) - Today, the Federal Reserve announced alarming news that the inflation rate in the country remains high at a staggering five percent annually. Adding to the financial worries, the Congressional Budget Office revealed that the national debt has reached an astronomical $31.5 trillion, with every citizen owing a staggering $94,212 of that debt. Furthermore, the Bureau of Economic Advisors has reported that the US trade deficit for 2022 was a massive $948 billion and continues to increase each month.
These financial problems have one root cause, the Healthcare Industry Oligopoly, which continues to increase its share of the Gross Domestic Product while manufacturing industries' share continues to shrink. The Healthcare Industry Oligopoly's lack of competition and illegal activities by most of the healthcare providers and insurance companies are causing significant financial difficulties for the common citizen.
The failure of law enforcement agencies to effectively regulate the healthcare industry oligopoly is a complex issue that requires a multifaceted approach to understand. The reasons for this failure are rooted in both legal and practical limitations that prevent agencies such as the FBI, CMS, and IRS from effectively addressing issues related to antitrust violations and fraudulent activities in the healthcare industry.
One key obstacle is the McCarren-Ferguson Act, which restricts the FBI's ability to investigate antitrust violations in the healthcare industry. This act grants authority to the states to regulate the business of insurance, including healthcare insurance. As a result, the FBI's antitrust division is often blocked from investigating cases related to the healthcare industry due to the complex and varying state regulations governing insurance.
Another limitation is the Social Security Law, which prohibits the CMS's ability to investigate healthcare providers. This law sets out specific rules and regulations for the Medicare and Medicaid programs, but it also limits the CMS's authority to investigate healthcare providers for fraud or other illegal activities.
The passage highlights the challenge faced by the IRS in enforcing tax laws related to the healthcare industry. The IRS's limited understanding of the healthcare industry has led to improper enforcement of tax laws. In addition, the IRS's interpretation of the difference between the patient's billed amount and the amount the insurance companies pay has further compounded the problem. The IRS treats this difference as an allowable deduction, whereas it may be an illegal kickback. This has resulted in the deduction becoming the largest expense for healthcare providers.
In conclusion, the failure of law enforcement agencies to address issues related to the healthcare industry oligopoly is a complex and multifaceted problem that requires a systemic approach to address. While legal limitations, such as the McCarren-Ferguson Act and the Social Security Law, pose significant challenges, it is also essential for law enforcement agencies to have a thorough understanding of the healthcare industry and the various fraud schemes that exist within it. Only then can we effectively regulate and prevent the kind of antitrust violations and fraudulent activities that harm patients and drive-up healthcare costs.
We must demand that our lawmakers take immediate action to address this issue and safeguard our economic future. The United States is facing pressing concerns about the economy and healthcare costs. The high healthcare costs per capita in the US due to high prices for drugs and medical procedures, administrative costs, and a lack of price transparency is a significant barrier to access for many Americans, particularly those without insurance or with high deductibles. The continued growth of the Healthcare Industry Oligopoly will only lead to more financial difficulties for the common citizen.
Congress must accept the fact that we must move to a Social Capitalism System. Social Capitalism is a hybrid economic model that aims to promote economic growth and social welfare simultaneously by combining the elements of capitalism and socialism.
In Social Capitalism, the government plays a more active role in regulating the economy than in pure capitalism, but the market still plays a significant role in resource allocation. Private property and the profit motive are still important, but social welfare programs are also implemented to ensure a more equitable distribution of wealth and resources.
For example, Social Capitalism may include policies such as progressive taxation, universal healthcare, and free education, while still allowing for private enterprise and entrepreneurship. This type of system seeks to balance the benefits of economic growth with the need for social responsibility and safety nets for those who may be left behind in a purely market-driven economy.
A new website, SavingTheWorld.US, has just been launched, which provides detailed information about the illegal practices that are damaging our nation. The website offers various plugins, including Fixing USA Economy and Healthcare, an Economist Report - The Healthcare System and Manufacturing in America, and International Profiles of Healthcare Systems - A Study by the Commonwealth Fund. These plugins provide valuable insights into the issues the country is facing and offer solutions to address them.
It is hoped that people will find this information helpful in understanding the challenges we are confronting and taking action to support our nation's future. We need your support to make a positive change in our economy and healthcare system. The question is, are you going to stand up for your country or let it slide into oblivion?
For more information, please visit SavingTheWorld.US and take action to support our nation's future.
Roy J. Meidinger
14893 American Eagle Cout
Source :Saving the World
This article was originally published by IssueWire. Read the original article here.