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Jul 28

Congress passes “bipartisan” bill to grow government by subsidizing hearing aids

Republicans have been winning elections for years with promises to limit government. They now control the majority of legislatures and governor’s mansions across the country as well as both branches of the U.S. Congress, the presidency and (arguably) the majority of judgeships (at the state levels, at least).

The people want cuts in government, taxation, and regulation.

Yet “Last week, a Hearing Aid Bill passed in the house and the Over-the-Counter-Hearing Aid Act of 2017 has been presented in the Senate.” See here.

This bill will subsidize hearing aids. Although it is presented with claims that this will bring prices down, THE MOST BASIC LAWS OF ECONOMICS HOLD THAT IT WILL MAKE HEARING AIDS MORE EXPENSIVE.

Just like Medicare, Medicaid and other laws which subsidize “health care,” this proposal will increase demand without increasing supply, causing prices to rise. People who would not otherwise purchase a hearing aid will line up to get them. Manufacturers will have a new captive market, and will lose incentives to produce cheaper, high-quality products.