U.S. Representative Stands up for the Elderly

This is extremely cathartic to watch as Representative John Larson speaks out about the plan to privatize social security, medicaid and medicare. 

I look to ChatGPT these days a lot to get less emotional descriptions of what's going on in our country right now. This is what it said about privatization of these economic support programs:

What does Privatizing Social Security, Medicare, and Medicaid mean?
This would be a disaster for most Americans, especially the poor, elderly, and disabled. Here’s what would likely happen.
 
1. Social Security Privatization: Risky & Disastrous for Retirees
Right now:

• Social Security is a guaranteed benefit.
• It provides stable income for retirees, disabled individuals, and survivors (widows, orphans).
• It’s not tied to stock market fluctuations.

If privatized:

• Your benefits would depend on stock market performance—meaning a crash could wipe out your retirement savings overnight.
• Wall Street firms would profit by charging management fees on your retirement accounts.
• Wealthier people would do fine (they have financial advisors), but millions of retirees who rely on Social Security alone would suffer.

Who benefits? Banks, hedge funds, and Wall Street investors. They’d get trillions in new money to gamble with.
 
2. Privatizing Medicare: Higher Costs, Worse Care
Right now:

• Medicare negotiates lower healthcare costs and ensures coverage for seniors.
• Administrative costs are way lower than private insurance (~2% vs. ~12-15%).
• It’s a lifeline for millions of elderly and disabled Americans.

If privatized:

• Insurance companies would jack up premiums, co-pays, and deductibles to maximize profits.
• Coverage could be denied for pre-existing conditions or high-risk patients.
• Seniors would be forced into for-profit plans that limit their choice of doctors.
• Drug prices would skyrocket since Medicare wouldn’t be able to negotiate lower costs.

Who benefits? Private insurance companies, Big Pharma, and healthcare profiteers.
 
3. Privatizing Medicaid: Millions Lose Access to Healthcare
Right now:

• Medicaid covers low-income families, pregnant women, children, and people with disabilities.
• It’s the biggest payer for nursing home care in the U.S.
• States administer Medicaid, but federal funding ensures it reaches millions.

If privatized:

• Low-income people could be forced onto voucher programs or private plans that offer less coverage.
• Nursing homes would become even more expensive, forcing families into massive debt.
• Many people would lose access to care completely because private insurers could deny coverage.

Who benefits? Private insurers and healthcare corporations that can deny expensive care.
 
Bottom Line: Privatization = Corporate Looting
This isn’t about making these programs more efficient—it’s about giving Wall Street, insurers, and pharmaceutical companies more control over trillions of taxpayer dollars.
 
If Social Security, Medicare, and Medicaid are privatized:

• Retirement becomes a gamble.
• Healthcare costs skyrocket.
• Millions will lose access to essential services.
• Corporate profits will explode while regular people suffer.

This is why billionaires and Wall Street push privatization—they see these programs as a goldmine to exploit.
 
Why Don't the People Benefit?
The only people who benefit from privatizing Social Security, Medicare, and Medicaid are corporations, Wall Street, and the ultra-wealthy. Here’s why they push for it:
 
1. Wall Street Wants to Gamble with Social Security Money
Trillions in new investments = Huge profits for banks & hedge funds

• Right now, Social Security is a stable, government-run system that pays out guaranteed benefits.
• If privatized, the money would be invested in stocks and mutual funds—letting Wall Street charge fees and take cuts of your retirement.
• A market crash? Too bad. Retirees would lose their savings while banks get bailouts.

2. Insurance Companies Want to Profit Off Medicare & Medicaid
 For-profit healthcare would replace public programs

• Medicare currently negotiates lower prices for healthcare, making it more affordable.
• Private insurers want to kill that so they can charge higher premiums, co-pays, and fees.
• They also deny expensive treatments to maximize profits.

3. Billionaires & Corporations Want to Stop Paying Taxes
Cut taxes for the rich by destroying public programs

• Social Security & Medicare are funded by payroll taxes.
• The richest 1% hate paying into it because they don’t “need” these programs.
• By privatizing them, they can slash their own taxes and shift all the risk to individuals.

4. Politicians Want to Reward Their Donors
Big Money controls Congress

• Wall Street, insurance companies, and pharma donate millions to politicians.

• Those politicians then push for privatization because they’re bought off.

Who Gets Screwed?

• Seniors: No more guaranteed Social Security checks—just risky investments.
•  Low-income families: Medicaid cuts would leave millions without healthcare.
• Workers: Higher retirement costs, worse healthcare, and no safety net.

 
This isn’t about "efficiency"—it's corporate looting of public money. They want to turn essential programs into profit centers for billionaires.