Monday, February 20, 2017

Peter Schiff: America Should Get Rid of Medicare and Medicaid

Famous contrarian investor and Euro-Pacific Capital CEO Peter Schiff spoke out in his weekly web series about his pessimistic view of America under President-elect Donald Trump.

"I think a lot of this optimism is unfounded. I mean yes, there may be some regulation that gets repealed under a Trump administration, but we have been disappointed in the past," he told his viewers…

Schiff noted that under many Republican presidents, regulations have been installed that actually hurt the economy, such as the Americans with Disabilities Act under former president George H.W. Bush. "That caused all sorts of problems for small business," he said about the act.

According to the CATO Institute, the ADA actually harmed its intended beneficiaries. "The added cost of employing disabled workers to comply with the accommodation mandate of ADA made those workers relatively unattractive to firms," CATO noted in its 2000 report.

The radio personality then went on to describe the one place he believes government overreach is at its finest: the healthcare system.

Like the Bush administration's impact on costs for employers, "It was the government's intervention that's fueled the skyrocketing price in healthcare," Schiff claimed.

He then went on to outline his very own plan for healthcare reform in America…

Under Schiff's plan:

Healthcare and employment would be completely separate
Insurance could only be used for life-threatening circumstances
Medicare and Medicaid would be terminated

- Source, Money Morning

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