It looks like Walgreens has bowed to customer pressure and decided not to relocate its corporate headquarters from Illinois to Switzerland after all.
Now, regardless of how you feel about our steep corporate tax rate, the labyrinthine loopholes or even overpaid CEOs, what I like about this is the effectiveness of the market.
In short, the company faced a backlash over their threat to move overseas. It generated enough outrage and bad press that executives have announced the company will remain stateside. That's market forces at work. No government intervention needed.
Speaking of which, a new survey from Morning Consult shows nearly 60 percent of voters say eligible exchange enrollees should get their promised subsidies regardless of whether they bought their coverage through a state-run or federal exchange under the Patient Protection and Affordable Care Act. In fact, only 15 percent argued to the contrary in the poll.
Granted, this means next to nothing as far as the courts are concerned, since they are beholden to no one. But it does speak to what Congress should be considering—when all they'd need to do is fix a single sentence to make this particular problem go away.
But that would be too easy, wouldn't it? Why fix something you want to fail? I've long since argued that since this law was passed, it should survive or die on its own, without undue tampering. But we've seen hard evidence that where the law was embraced—and exchanges established and Medicaid expanded—the number of uninsureds has fallen dramatically. Whereas, states that fought PPACA every step of the way, Texas and Florida, to name just two, have experienced very little progress.
So it's a tough—if not downright misleading—argument for critics such as Scott and Perry to point out what a failure PPACA is while doing everything in their power to sabotage it. It would be a lot like me refusing to put oil in my new Jeep, and then blaming Chrysler for making such a crappy product when the engine locks up and I get left on the side of the road.
And keep in mind that despite all this expanded coverage, the affordable part of PPACA remains as large as misnomer as it ever was.
Sure, everyone loves those subsidies—and expanded (and federally funded) Medicaid now—but that bill will come due, for both states and regular taxpayers. And then we'll be left with one hell of a hangover.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.