In an appearance on CNBC television Monday, Berkshire Hathaway Vice Chairman Charlie Munger said that the US health care system is “ridiculous” in its complexity. Appearing alongside his fellow billionaires Warren Buffett and Bill Gates, the 93-year-old said, “The amount of waste from overtreatment of the dying is just disgusting.”
While Munger’s net worth of $1.43 billion makes him small fry when compared to Berkshire Hathaway CEO Buffett’s $73.4 billion, he still ranks in the top 0.01 percent of the wealthiest Americans.
His comments take up a common theme in the current “debate” between the two big business parties on the state of health care in America today: people are living too long. They argue that many—especially the elderly—are receiving costly and “unnecessary” medical treatments, health care costs are skyrocketing, and something must be done about it.
Health and Human Services (HHS) Secretary Tom Price—an ardent opponent of Medicaid and…
View original post 384 more words