Charles Payne

I'm not a glutton for punishment, but I was somewhere and saw a New York Times on the floor—so I picked it up.


Anyway, I see this article titled "America's Aversion to Taxes" and it's laced with all the dumb nonsense that celebrates socialism while promoting racism. This is the one-two punch the administration and its media allies have decided to go with. The author Eduardo Porter paints this glorious picture of socialized medicine in Europe, particularly Italy where greatness is measured by a social safety net rather than opportunity and upward mobility. Huge welfare and the veneer of free medicine is how the NY Times measures richness. Italy is in deep trouble and is anything but the ideal place for America to emulate.

It would be like Usain Bolt asking me for tips on running and staying in shape.

Let's talk facts. According to the World Health Organization, the United States spent 15.2% of GDP on healthcare in 2008. This is the highest percentage in the world and heading to 20% in the next few years.

The $2.3 trillion spent on healthcare in the United States in 2008 is greater than the entire GDP of Italy ($2.19t), Spain ($1.49t), Netherlands ($836.3b), Sweden ($538.1b), Denmark ($332.6b), Greece ($298.7b) and Portugal ($237.0b) while  France barely beats it with $2.7 trillion. America spent $256.0 billion on healthcare in 1980, which means the outlay has grown 4 times faster than inflation.

It's not that America isn't pumping enough money into healthcare; it's how that money is spent. The same with education, which is also mentioned in the article. As for free healthcare ... nothing is free. From VAT taxes, to sky-high gas to massive individual income taxes,

Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.

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