Any good idea can be done poorly enough to discredit it. In fact, discrediting good ideas is what is generally the work of Congress before a vote is permitted on any idea that would benefit people, rather than business. Think about the weakening of antipollution legislation, or the not funding of anything beneficial that does sneak through. Of course, recently, no votes have been permitted on anything. But, nevertheless, let’s take the Affordable Care Act as an example.
A basic goal of the ACA was to make healthcare universal. In fact, it made healthcare insurance universally available, ensuring that some business unit could always make a profit from the healthcare needs of people. This profit is large. The way ACA is implemented, the choice among available insurance plans is so complicated that it renders the selection to be a roll of the dice. People would have to know what might ail them in the future to make a good choice. As usual, benefit to the people is the last consideration.
The pro-business, anti-person forces can even take an old good idea and change it to eliminate some of its goodness. Back in the depression era 1930s, the Glass-Steagall Act imposed a regulatory separation between traditional banking and higher-risk investing activities. Glass-Steagall made it illegal for a bank that held FDIC-insured deposits to invest in anything other than government bonds and similarly low-risk vehicles. This was repealed in 1999 and allowed banks that held individual’s savings accounts to invest in risky securities. This partial repeal of the Glass-Steagall Act has been blamed by many for the financial crisis of 2008-09. Even former co-chairs of Citigroup said, in effect, that Glass-Steagall protected the American economy. A side effect of the repeal was to make it harder to get mortgage loans since more lucrative investments were readily available.
The Social Security System that has been keeping senior citizens afloat for at least 75 years is under constant attack to make its assets available to the gambling of financial institutions. Once again, the forces of business are trying to make a good idea fail, for you that is. Imagine taking your nest egg, in fact the only future support you may have, and guessing how to invest it. There are many business interests that would be happy to help you make this decision, for a fee.
Have you ever had a good idea that, after changes made due to others advice, failed miserably?