Big Louie whispers to you, “Say, Mac. The fix is in. The Redskins are throwing it to the Browns. It’s all set. Guaranteed.”
“No, kiddin’, Louie?”
“I’m tellin’ ya. Now listen. I want you to bet me the Skins win.”
“Wha…? But you just told me—”
“You aren’t paying attention. What’s wrong with you, Mac? You want trouble? I said the Skins will lose and you will bet they’re going to win. Now gimme sixty bucks that says the Skins will win.”
“Hey! You don’t have to be so rough…”
“Say, these twenties are new! Considerate of you. Listen. Don’t be so glum. You’re contributing to a good cause: Me.”
Any of this remind you, Dear Reader, of the insurance business? It ought not to. Yet the word insurance has undergone and strange metamorphosis caused, as you won’t be surprised to learn, by Government.
Insurance used to be a bet you would make that you hoped you wouldn’t win. You went to an insurer and made a bet that something bad would happen, say, you got cancer or your house would burn down. The insurer figured out how much it would cost to pay you to fix the bad thing. He then said, “Okay, gimme Y dollars, and if the bad thing happens, I pay you X.” If you didn’t like Y or X, you negotiated with the insurer until a pair of numbers were mutually agreeable—or you agreed to part ways.
But suppose you told the insurer, “I have cancer. It will cost X to treat. I want to bet with you that I get cancer. What’s the minimum Y I should pay you?”
The insurer would either laugh you out of his office, as he commiserated with you about the sad state of your health, or he would pick a Y greater than X. Why? Because it was guaranteed that the insurer would pay out X. Why would he ever take an amount less than X? He would be certain to lose money!
Because Government, that’s why. Because your cancer is a “pre-existing condition” and it was seen as cruel and heartless for the insurer not to lose money on your behalf. But Government forced, by the point of a gun, the insurer to lose money. Government enjoyed playing Robin Hood. Hood as in criminal, crook, confidence trickster (did you not know that? Big Louie knew).
However, because the entities that comprise Government move in and out of insurers (and their banks), the Government also took pity. Government knew insurers had to make up their forced deficits. So it mandated that citizens who did not want to make a bet with any insurer had to give the insurer money for bad things that would almost never happen. Obamacare became Big Louie muscling twenty-somethings to insure themselves against Alzheimer’s.
Thanks to “Supreme” Court Justice Roberts, you being forced to fork over funds to a private entity was called a tax. (Same thing Big Louie calls it!) Thus, not only was the word insurance gutted of most of its actual meaning, so was tax. Orwell lives…