One of the persistent myths of American politics is that business opposes government regulation. Many individual entrepreneurs do so. But the so-called captains of industry often prefer to be in bed with Washington since politicians are always ready to eliminate competition, guarantee profits, and provide bail-outs.
Consider who the health industry has been supporting for president. Reports National Journal:
When President Obama passed health care reform last year and upended an entire industry, there were plenty of powerful interests that were no fans of the new law. Yet Obama has still collected more campaign cash from the health care industry than his potential Republican challengers Mitt Romney and Rick Perry.
Obama has raised $1.6 million so far from the industry, which is 76 percent more than Romney' $920,000 haul and more than triple the $494,000 Perry has raised, according to the Center for Responsive Politics, a campaign money watchdog.
The major health care associations, such as the PhRMA (the drugmaker lobby) and AMA (the physicians' association) backed passage of the Obama plan. Today they are backing its preservation.
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