Thursday, September 6, 2007

Carlyle Hits $75 Billion Mark

According to a company news release, The Carlyle Group eclipsed the $75 billion mark, reaching $75.6 billion in investments. The politically connected firm continues its rapid growth under the Bush administration as it lobbies to keep existing tax breaks. When President Bush was sworn into office, the private equity underwriter (PEU) managed some $13 billion. They raised $32.5 billion between 2001 and 2006, but they've done quite well since, raising another $30 billion.

Imagine if the current administration kept the capital gains tax at 20% on all those Carlyle profits. Would we still have 8.7 children without health insurance? Would 75-80% of community hospitals be struggling? Would 47 million people go without health insurance? After hearing both my Congressman and a retired for-profit health care executive the last few weeks, I'm certain things will get worse before they get better. Both employers and the government are shifting costs to the individual.

A noted health care economist and advisor to the Bush administration said in 2003:

“In principle the idea (of universal health coverage) is eminently workable, but it did not become reality and probably never will, for a simple reason: it would require the well-to-do in this country to pay additional taxes on behalf of the poor and near poor.”

Eminently workable in other industrialized countries, but not in the Selfish States of America, miserably led by George W. and preserved by entities like The Carlyle Group. Funny how they want to make money off health care companies, like CareFx, but not pay taxes to cover care...