Charlie Munger Quotes
I think that if you have a single payer system and an opt-out for people who want to pay more [for better service, etc.], I think it would be better - and I think we'll eventually get there. It wouldn't be better at the top - [our current system] is the best in the world at the top. But the waste in the present system is awesome and we do get some very perverse incentives.
Munger, Charles T. "Remarks at the Daily Journal Corporation Annual Meeting." Los Angeles, CA, 2017.
Note how Laffer, ideologically opposed to Federal government operations, conflated the Motor Vehicles Administration operations, badly run in many states by the Federal. Ironically he appealed to Americans to judge Medicare and Medicaid. What he overlooked it that the citizen participants in these programs are very happy with the Federal Management. Next to Social Security, Medicare has been the second most popular Federal program. In 2012, when the Obamacare additions to Medicare and Medicaid were major issues, Americans voted clearly for President Obama and Obamacare. Many conservatives however continue to oppose government operation of anything except the State Department, the FBI and the Military / Security agencies.
Charles Thomas Munger is an American billionaire investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his closest partner and right hand man. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.