Admitting that he’s not an expert in health-care, political heavyweight and investment tycoon Warren Buffett is recommending America scrap its health-care system in favor of a British-style single-payer, state-run plan.
The Berkshire Hathaway CEO said America “can afford” to provide all Americans with government health care.
A single-payer program is “probably is the best system,” Buffett said Monday in an interview on PBS’s NewsHour. “Because it is a system, we are such a rich country, in a sense we can afford to do it. But in almost every field of American business, it pays to bring down costs. There’s an awful lot of people involved in the medical — the whole just the way the ecosystem worked, there was no incentive to bring down costs.”
Buffett, who at an estimated net worth of $73.3 billion is the fourth wealthiest man in the world, said putting government in charge of health care would be “more effective” than market reforms at lowering costs.
video and photo courtesy of PBS
