I strongly agree that socializing the healthcare industry will not help in any way. To the extent that healthcare costs have skyrocketed, it's precisely because of government intervention in the U.S. Healthcare industry has massively increased over the last 50 years, especially in the form of tax incentives for employers to compensate employees by way of health insurance. Anyway, with respect to the labor share of income, that is not correct. Employer contributions to employee health insurance premiums are included in the labor share.
This is true in the sense that if I sell water in the desert at $100 a bottle, at 900% profit margin, doesn't mean that if the government steps in and pays half of it, that the resulting system is somehow good, just because less people are dying of thirst.
> I strongly agree that socializing the healthcare industry will not help in any way.
It would eliminate the tens of billions that are wasted on insurance company profits.
> To the extent that healthcare costs have skyrocketed, it's precisely because of government intervention in the U.S. Healthcare industry has massively increased over the last 50 years, especially in the form of tax incentives for employers to compensate employees by way of health insurance.
It fails to follow logically that one specific way the government got involved that drove costs up means that any possible intervention is worse than completely being hands-off. How do you explain pretty much every other developed country in the world having more government involvement but lower costs than the US?