Here ruffy, your ama.
http://www.lewrockwell.com/rockwell/medical.html
Great article, it is time we did 2 things to help everyone get the right medical care.
1. Elimanate the FDA, its is nothing more than a tool of Big Drug Companies!!
2. Tort reform caping "Punitive" awards as was done in Texas.
Tort reform has led to improvements in the Texas business climate that
have generated hundreds of thousands of jobs. Specifically, TPG found
that
• The total impact of tort reforms implemented since 1995
includes gains of $112.5 billion in spending each year as
well as almost 499,000 jobs in the state.
• The reforms with respect to asbestos/silica litigation,
which were enacted in 2005, are already contributing
$490.3 million in annual spending and 2,683 permanent
jobs.
• Reforms related to limiting non-economic damages in
medical malpractice litigation alone lead to increases of
$55.3 billion in spending per year and more than 223,000
jobs.
• Benefits are spread across the state, positively affecting
communities both large and small. Results are provided
for the state as well as every county, metropolitan statistical
“Tort reform has led to
improvements in the Texas
business climate that have
generated hundreds of
thousands of jobs.”
A Texas Turnaround: The Impact of Lawsuit Reform on Business Activity in the Lone Star State
4 perrymangroup.com
© 2008 by The Perryman Group
area, council of governments region, planning region, and
legislative district.
• The fiscal stimulus to the State from civil justice reforms
is about $2.558 billion per year.
• Other positive benefits include an increase in the number of
doctors, particularly in rural areas and other regions, which
have been facing severe shortages and the inclusion of
almost 430,000 Texans in health plans who would
otherwise be uninsured.
There is evidence that the US tort system is expensive by international
standards. The United States spends 2.2% of its
Gross Domestic Product (GDP) on direct tort costs.
Other advanced countries with viable market
economies spend an average of 0.9% of GDP on
direct tort costs. Since 1950, tort cost growth has exceeded GDP growth
by an average of two to three percentage points.1
These excess expenditures reduce the competitiveness of American
businesses. They also increase corporate incentives to locate factories
elsewhere where there are more reasonable tort environments.
As noted, an efficient and effect system of civil justice is an important and,
indeed, essential aspect of a properly functioning economy and society.
In addition, those harmed through improper actions are entitled to recover
their losses. However, the US tort system returns less than 50 cents of
every tort-cost dollar to injured claimants and only 22 cents to awards for
“…the US tort system is
expensive by international
standards.”
A Texas Turnaround: The Impact of Lawsuit Reform on Business Activity in the Lone Star State
7 perrymangroup.com
© 2008 by The Perryman Group
actual economic losses.2 (Using the broader measure in the Pacific
Research Institute study, less than 15% of aggregate costs reflect such
compensations.)
