patrick.net

Abe--

Hope you've got a comfortable chair then, because us freedom hating, communistic tyrants tend not to respond to ridiculous requests...

Tatupu,

Please explain why that is a ridiculous request. Or could it be you don't know what THE FED's stated purpose and alleged "benefits" are? (Hint - its on-line...you could look it up if you don't know).

Abe--

OK, I'm tiring of this already. You are obviously fishing to try and start a discussion on the FED. Which is fine. But do it like everyone else does around here--start a new thread with your beliefs on the FED and let others comment on it. I'll be happy to point out where you are wrong if that's the case, or agree if you've got it right.

Nomograph says

the truth is that unregulated free markets lead to extreme wealth concentration and eventually a feudal system of lords and serfs followed by violent wealth redistribution via revolution or war.

I agree that we do need a measure of regulation in free markets. (By the way I never said "unregulated free markets equal freedom" though this is a true statement. Remember freedom has consequences). There need to be rules in order for a free market to run efficiently. For example, it needs to be illegal to use a scale that is not accurate with penalties for this type of fraud. There needs to be a mechanism for contract enforcement, with penalties for breach of contract. These regulations actually protect the free market.

However, I would counter your statement that unregulated free markets lead to extreme wealth concentration and eventually a feudal system of serfs and lords followed by revolution with the fact that every government and societal system has gone through collapse, revolution or hostile takeover (except maybe for a few remote tribes in Africa, the Middle East or the Amazon). Every system is eventually replaced with another. The new leaders take control, concentrate wealth and power in a few privileged elites and rule until they either collapse or are overthrown. So it is not that free markets fail, it is that EVERYTHING fails.

In other words arguing that "unregulated" free markets fail and therefore they are bad is like arguing that everyone who eats meat dies therefore eating meat is bad.

It does not follow just because a system fails that it is bad. For example, the Native Americans were overtaken by Europeans. Does that mean they are bad? The remote tribes in Afganistan have never been conquered. Does that mean they are good? Not necessarily. USSR failed, so is it bad? Ancient Israel failed, is it bad? Ancient Egypt failed, is it bad? Rome failed so is it bad? A better question to ask is WHY do certain systems fail? I think you would be hard pressed to prove that it was lack of government regulation that is causing our system to fail, when our government is larger today than it ever was. No the problems is not lack of regulation rather the fact that it is essentially controlled by the corporate lobbyists and therefore any regulation we have (and there is a lot of it) exists WITH CORPORATE APPROVAL.

My point being that it doesn't matter how much regulation you have when the people who need to BE regulated are MAKING the regulations.

And that my friends is why government must be small enough that corporations cannot use IT to THEIR advantage. This is what they are doing, and with every expansion of government the corporate lobbyists/elites power grows with it. That is why American Patriots fought the Revolution, to establish a government that would be DIFFERENT than the British Empire. The United States today is more like the British Empire it fought for independence from, than it is like the original American union of independent states.

4X says

I bet you drive a Nissan, Toyota or Honda dont you?…..always talking this arch-conservative nonsense centered around being divisive yet you dont even know how to support America.

You shouldn't bet .... you'd lose.

4X says

3. Next buy only American based computers (HP, IBM, Dell) and stay away from Lenovo products so we dont lose another industry

Too funny. Check and see for yourself where these "American based computers" are made. LOL !!!!

4X says

….lastly, stop blaming President Obama for his efforts to clean up the blowback from your party’s decisions to enter this expensive war.

Another idiotic assumption. I'm an independent. I didn't realize that was a "party."

By definition, independent would be a very lonely party. :)

RayAmerica says

4X says

I bet you drive a Nissan, Toyota or Honda dont you?…..always talking this arch-conservative nonsense centered around being divisive yet you dont even know how to support America.

You shouldn’t bet …. you’d lose.

On another thread, 4x states that his wife drives a Nissan. Pot. Kettle. Black.

RayAmerica says

4X says

….lastly, stop blaming President Obama for his efforts to clean up the blowback from your party’s decisions to enter this expensive war.

Another idiotic assumption. I’m an independent. I didn’t realize that was a “party.”

really--who was the last non-Republican you voted for?

that would not really prove anything more than a lack of choices - would it? I think the assumption that we all vote "against" the worst choice (as personally viewed) is a fair view. But on this point libs have an advantage over conservos bacause libs cling to loose guidlines for conduct and choices - thereby making it very acceptable to a lib to vote for a candidate that is not in-step with their personal view on several key points - on the other hand, when a conservo is forced to make the same stinky choice it allows the liberal left to point at conservos and scream bloody murder because a conservo is not supposed to waver from their ideals while voting ... so, the limited choices we are faced with (R or D) do not fit the template of LIB vs CONSERV at all .. but becasue the very nature of liberal is to allow for variance, they are more successful under the current system. Another GREAT reason for redistricting, eleminating the electorial college, having all voting require a voters license, have ballots be on the back side of tax return with all voting taking place on the third Tuesday in April.

Bap33 says

But on this point libs have an advantage over conservos bacause libs cling to loose guidlines for conduct and choices - thereby making it very acceptable to a lib to vote for a candidate that is not in-step with their personal view on several key points - on the other hand, when a conservo is forced to make the same stinky choice it allows the liberal left to point at conservos and scream bloody murder because a conservo is not supposed to waver from their ideals while voting … so, the limited choices we are faced with (R or D) do not fit the template of LIB vs CONSERV at all .. but becasue the very nature of liberal is to allow for variance, they are more successful under the current system.

Bap Haiku:
One long paragraph
One hundred thirty-two words
Fifteen misspellings

lmao ... guilty as charged

Still snowing?

Nope. 60 degrees, sunny & gorgeous. I miss the weather - last week it rained cats & dogs so hard I stepped in a poodle.

Kevin says

I believe that they’re “Independent” in the way that George Wallace was “Independent”. They vote Republican because they view it as the platform closest to their own. They generally want a return to life the way it was in the early 1800s.

I agree. Very few people agree 100% with either party's platform, but if you end up voting for a Republican every election then you ARE a Republican. You can call yourself whatever you want, but actions speak louder than words.

Last I checked there weren't only two parties on the ballot. Libertarian and Green parties were on ~ 90% of the ballots in the last election. Ross Perot was on all the ballots in the 90s. If you really consider yourself an independent, then you should have voted for someone other than a Republican at some point....

RayAmerica says

4X says

3. Next buy only American based computers (HP, IBM, Dell) and stay away from Lenovo products so we dont lose another industry

Too funny. Check and see for yourself where these “American based computers” are made. LOL !!!!

I know they are made out of the country, yet the we still support the American workers based in our country and not housed in Japan or China counters by purchasing American based products.

Shortly after Lenovo told 1,400 of its US-based employees to politely hop off the payroll, IBM's LEAN plan could call for over 100,000 American workers to be canned in favor of (surprise, surprise) hiring overseas. Already, the firm has laid off 1,300 employees in 2007, but according to a recent report, an ongoing "planning meeting" for how to handle the company's Global Services could eventually axe "up to 150,000 US jobs" while hiring cheaper labor in China and India. Scary times for these Americans and for you and I seeing that we only keep sending jobs to countries that cannot compete with wages here in the US.

I think i will guide my kids in the direction of becoming a doctor or lawyer...those fields cant be offshored nor can they be neglected by American consumers in favor of companies based in Japan, China or anywhere else for that matter.

4X says

RayAmerica says
4X says

3. Next buy only American based computers (HP, IBM, Dell) and stay away from Lenovo products so we dont lose another industry

Too funny. Check and see for yourself where these “American based computers” are made. LOL !!!!
I know they are made out of the country, yet the we still support the American workers based in our country and not housed in Japan or China counters by purchasing American based products.

Have you ever considered a career in politcs?

never, I would probably be labeled an arch-conservative for some of my ideas.

4X says

RayAmerica says

4X says

3. Next buy only American based computers (HP, IBM, Dell) and stay away from Lenovo products so we dont lose another industry

Too funny. Check and see for yourself where these “American based computers” are made. LOL !!!!

I know they are made out of the country, yet the we still support the American workers based in our country and not housed in Japan or China counters by purchasing American based products.
Shortly after Lenovo told 1,400 of its US-based employees to politely hop off the payroll, IBM’s LEAN plan could call for over 100,000 American workers to be canned in favor of (surprise, surprise) hiring overseas. Already, the firm has laid off 1,300 employees in 2007, but according to a recent report, an ongoing “planning meeting” for how to handle the company’s Global Services could eventually axe “up to 150,000 US jobs” while hiring cheaper labor in China and India. Scary times for these Americans and for you and I seeing that we only keep sending jobs to countries that cannot compete with wages here in the US.
I think i will guide my kids in the direction of becoming a doctor or lawyer…those fields cant be offshored nor can they be neglected by American consumers in favor of companies based in Japan, China or anywhere else for that matter.

Becoming a doctor is a losing proposition. My father is a physician in a specialized area. His income has done nothing but plunge the past 10 years. The story is the same for all of his colleagues. I decided against going to Medical School about 7 years ago when I saw the staggering tuition hikes. Since then, I've seen nothing but more hikes for 7 straight years. Any person looking to go to medical school will not get their return on investment. The education is too expensive and doctors are consistently making less money than they used to. All my friends who obtained their M.D. degrees have informed me that the student loans they accumulated through college and medical school prevent them from ever raising their standard of living beyond that of the average American. Hell, I'm making just about as much money as them as a High School Teacher and Graduate Student. The only thing is, I'm not carrying around 300k in student loans to pay off.

If it requires 8 more years of training, and $250,000 more debt, it will take much longer just to come to the break even point with Joe the Plumber. I don't feel sorry for doctors, but when you look at the cost of education it is no wonder the cost of health care is also rising a tenth or more nearly every year.

My point was the break even point is quite a ways down the road. Besides that, doctors are some of the most depressed and depressing people I know.

For example, Nomograss

SF ace says

The person that chose teaching over doctor and try to justify that as a great financial decision is a …

guy who probably only works half the hours of most doctors in a given year. sounds good to me!

SF ace says

Except the doctor will earn about 7.5M in 25 years @ 300K per year average over joe the plumber will make 2M for 40 years at 50K average. Not many become doctors out of poverty because of the time/money investement, but I say it is worth it.
The person that chose teaching over doctor and try to justify that as a great financial decision is a …

Rofl. Maybe you missed that whole Physicians incomes are heavily declining statement I made. Doctor's incomes are heavily eroding due to the insurance industry and their ridiculous premiums for malpractice insurance. Btw... in case you missed it, I'll have a Ph.D. in Chemistry. And guess what, I got paid to get it. I will graduate with a debt of $0. I have 2 jobs right now. I have 2 incomes. I was also able to save a lot of money while in school while my friends who went to Med School went further into debt. I've done the math. I'm already 100k ahead of them in the savings department and 300k ahead of them in the debt department. They have no chance of catching me.
Like I said, salary wise, we are on about the same level right now. Unfortunately, they pay about 15-20k in interest alone every year on those loans and they have to pay off principal as well. They might be lucky to catch up to me by the time they are in the late sixties. That's only because, by that time, I'll be retired.

AdHominem says

My point was the break even point is quite a ways down the road. Besides that, doctors are some of the most depressed and depressing people I know.
For example, Nomograss

You may have driven him right over the edge. I can imagine him now, crying in front of his Atari computer hooked to his console teevee, wishing that he was as smart as you...

This is very unscientific, but I can only offer my personal experience. When I was at the hospital recently I noticed there were a lot of Lexus, BMW, Mercedes-Benz's in the Drs. parking lot as compared to when I went to the elementary school parking lot. Mostly Fords, Hyundais, Chevys, etc. there.
Like I said, for what it's worth...

SF ace says

“Maybe you missed that whole Physicians incomes are heavily declining statement I made.”
That is your word, where’s the proof, I don’t find that possible because my aunt is a nurse, a friend is pharmacist and their wages were way ahead and continue to be so for the forseeable future.
“Doctor’s incomes are heavily eroding due to the insurance industry and their ridiculous premiums for malpractice insurance.”

Where's the proof? Have you spoken to any doctors the past 10 years. Like I said, my father is a physician. His income has drastically gone down. So have his colleagues.

But if you really want evidence, be my guest. Here.

It says physicians salaries fell 7% from 1995 to 2003 adjusted for inflation. The trend is still intact. Oh btw, that means their salaries fell by way more since "adjusted for inflation" uses the government's phony CPI.

If salaried, that is covered. In private practice, that is a pass-thru cost and considering the med bill is $195 for really a 5-10 min face time with the actual phsycian, i don’t believe their income are eroding.
“Btw… in case you missed it, I’ll have a Ph.D. in Chemistry. And guess what, I got paid to get it. I will graduate with a debt of $0. I have 2 jobs right now. I have 2 incomes. I was also able to save a lot of money while in school while my friends who went to Med School went further into debt.”
congrats on that point, if you manage to get a PH D having someone else pay for it. You should write a book on it, that will surely be a best seller now. “How I manage to get a PH.D and got paid for it!”

I have news for you. Anyone that gets a PhD in sciences gets paid for it. The point was, I'm not relegated to being a high school teacher for 30 years if I don't want to be. Maybe you want to look up what a PhD Chemist commands in salary.

” I’ve done the math. I’m already 100k ahead of them in the savings department and 300k ahead of them in the debt department. They have no chance of catching me.”
Of course, you made the assumption that a physician doesn’t make more over a teacher long term as per youre next comment.

Actually, I didn't make that assumption at all. I said that most physicians don't stand a change of making more money than I will over the long term. I didn't say anything about teachers in general. You did.

“Like I said, salary wise, we are on about the same level right now.”
Exacty what does a high school teacher and a physician make?

Lets see, you pegged a physicians starting salary at about 85K right? Well, my starting salary as a high school teacher is about 60k. You can add 30k to that for my Research Grant Stipend. I'm at 90k now. Any questions? The point of my post was that I (not all teachers) am making just as much as my physician friends right now. I didn't need to go 300k in the hole to do it. This has nothing to do with being a teacher.

” Unfortunately, they pay about 15-20k in interest alone every year on those loans and they have to pay off principal as well. They might be lucky to catch up to me by the time they are in the late sixties. That’s only because, by that time, I’ll be retired.”
Physicians can pay off their loan easily over the course of ten years and still be saving more money on family, retirement and the likes than even professionals earning 100K a year.

I suggest go you go look up the average physicians salary over 10 years and look at cost of Medical School for 4 years. Like I said, none of my peers in their late 20s or early 30s are on that track

If you want to start something as saying teachers are more financially well off then physicians, you just have to provide more than these fuzzy facts and math.

Once again, you are focusing on teachers. I didn't say teachers are more financially well off than physicians. I said I was more financially well off than most physicians my age. I just happen to be a teacher. The point of my post was to bring light to the fact that becoming a physician has become a complete crapshoot for the young American. The cost of medical school is swiftly approaching 50k a year for several medical schools. Meanwhile, the interest on a student's Undergraduate loans continue to accrue. They also tend to go into debt while in Medical School just to feed themselves. The AMA has shown that in recent years that many students can graduate with an accumulated debt North of 300k. In fact, 4 out of 5 Medical School students, according to their surveys, graduate with well over 150k in debt. Given the recent trend of both undergraduate and medical school tuition, you can expect that debt number to consistently increase. Furthermore, once out of Medical School, residents work essentially as slave labor for a minimum of 3 years. Physicians salaries have consistently been eroded by Insurance Companies rationing & Malpractice insurance. The fact that a large number of Americans can't or refuse to pay their bills doesn't help. Doctor's are feeling the sting from this recession as well. Add it all up and you have a situation where physicians literally do not get their return on investment for their education.

Today's young American does not enjoy the luxury that your current physicians have. They have to pay orders of magnitude more for school and they make significantly less. There are much better career options out there outside of Medicine.

tatupu70 says

This is very unscientific, but I can only offer my personal experience. When I was at the hospital recently I noticed there were a lot of Lexus, BMW, Mercedes-Benz’s in the Drs. parking lot as compared to when I went to the elementary school parking lot. Mostly Fords, Hyundais, Chevys, etc. there.

Like I said, for what it’s worth…

You are talking about middle aged Physicians who did not face the staggering tuition that students face today. The kids in medical school now won't be driving beamers any time soon. I wouldn't ever expect any teachers to be driving luxury vehicles. But now where are getting into how SF "ace" created his own fantasy straw man argument to argue against. No one here claimed teachers make more than doctors.

Rofl, you cited a magazine named "Managed Care Magazine". But anyway, your figures don't account for inflation. So they mean nothing. I did provide data to you but it seems that you conveniently like to ignore it.
It's obvious you have no clue how a PhD program even works. In short, your tuition is free and you get paid a stipend. The "strings" are you probably have to teach on the side and you must do research towards your doctorate. And no, this isn't available for MDs unless they want to stay 3 more years and get a PhD in addition to their MD.
Every person I know that started practicing medicine in the past 3 years has start out with a salary around 90k a year. The highest one I've met recently started out at 130k a year but he lost this job.
"Health care is widely regarded as recession proof?". Are you serious? Tell that to all the hospitals going bankrupt right now.
I'm rationalize anything. Med School is not worth the investment when you can pursue other lucrative careers at a cost of 200k less. And once again, you seem fixated on the salaries of established professionals who have been in the field for decades. I'm referring to those entering the field right now! The kids coming out of Med School aren't commanding the salaries they thought they would and despite what you believe, doctors do not possess the recession proof job security you claim they do.
Btw, ever see what happens to a physicians income when their malpractice insurance jumps to 50k a year? Oh that's right, you won't find that one in the statistics. If you want to ignore it, than don't talk to me about Fuzzy math. I suggest you go talk to some physicians. None of them are happy right now.

theoakman says

I suggest you go talk to some physicians. None of them are happy right now.

Actually, I just saw my kid's ped today and he was very happy.

SF ace says

theoakman says

Rofl, you cited a magazine named “Managed Care Magazine”. But anyway, your figures don’t account for inflation. So they mean nothing. I did provide data to you but it seems that you conveniently like to ignore it.

It’s obvious you have no clue how a PhD program even works. In short, your tuition is free and you get paid a stipend. The “strings” are you probably have to teach on the side and you must do research towards your doctorate. And no, this isn’t available for MDs unless they want to stay 3 more years and get a PhD in addition to their MD.

Every person I know that started practicing medicine in the past 3 years has start out with a salary around 90k a year. The highest one I’ve met recently started out at 130k a year but he lost this job.

“Health care is widely regarded as recession proof?”. Are you serious? Tell that to all the hospitals going bankrupt right now.

I’m rationalize anything. Med School is not worth the investment when you can pursue other lucrative careers at a cost of 200k less. And once again, you seem fixated on the salaries of established professionals who have been in the field for decades. I’m referring to those entering the field right now! The kids coming out of Med School aren’t commanding the salaries they thought they would and despite what you believe, doctors do not possess the recession proof job security you claim they do.

seriously, you can fudge whatever you want, but salary is not going down.
If in fact you MD friends make 90K to start and (racking up 300K in debt), that is sad, as a RN already makes 85K to start and easily top 120K with holiday and overtime. Not all MD’s get in to do charity work.
Hospitals going bankrupt, please do tell me which one as the healthcare is the fastest growing industry and will stay so for the next 30 years.. With the aging of the baby boomer and the fact that it takes an MD to practice, this is as sure thing as there is.
An average is just an average, high, low, it works out in the end and an M.D makes below that starting out and much more toward the end. If you are just going to talk about starting salary, you might as well keep that waiter/bartending job for short-sightedness analysis.
There’s more to MD than money, as there are many better options as well, but it is a perfectly fine career path if the desire and interest is there.

Like I said, you are conveniently still ignoring their biggest expense...mal practice insurance. If you are content to consistently resort to defamation of me to try to win an argument, I'd rather not bother with you.

SF ace says

to end the idea that MD’s salary are going down and job prospect is brim.
SUMMARY

Merritt Hawkins & Associates® 2008 Review of Physician and CRNA Recruiting

Incentives underscores the fact that the demand for primary care physicians continues to

grow while demand for most specialists remains strong. Hospital employment of

physicians also appears to be increasing as many physicians seek the security and relative

simplicity of an employed position. Financial incentives offered to recruit physicians

generally are up, while the use of signing bonuses has increased. The 2008 Review also

indicates that physician recruitment is a national challenge, as Merritt Hawkins &

Associates conducted search assignments in virtually all 50 states in 2007/08.
http://www.merritthawkins.com/pdf/mha-2008-incentive-survey.pdf

All the md head hunters are sucking wind. My wife's an expat doc who will never practice again in the states. Salaries are most assuredly down, working hours are up a lot, and everyone who can get out one way or another is doing it.

SF ace says

“Like I said, you are conveniently still ignoring their biggest expense…mal practice insurance. If you are content to consistently resort to defamation of me to try to win an argument, I’d rather not bother with you.”
If you are salaried, the employer picks up insurance cost and probably much much more. If you are self practicing, I suspect the MD is doing much better than average.
Where’s the defamation? If you’re going to tell the Board that average MD salary is 90K, I have to point that is not reasonable. If you believe hospitals are going bankrupt, you’ll have to convince me. If you believe starting salary is that important, then all of us will choose to be waiters at 18?

You either have reading problems or you just like putting words in people's mouths. I didn't claim an MD's average salary was 90K.I stressed that the biggest problem was the debt accumulation.

I suggest you read your own posts. You make derogatory statements and resort to name calling.
Btw...I found a great article just for you.
http://online.wsj.com/article/SB10001424052748703389004575033063806327030.html

SF ace says

to end the idea that MD’s salary are going down and job prospect is brim.
SUMMARY

Merritt Hawkins & Associates® 2008 Review of Physician and CRNA Recruiting

Incentives underscores the fact that the demand for primary care physicians continues to

grow while demand for most specialists remains strong. Hospital employment of

physicians also appears to be increasing as many physicians seek the security and relative

simplicity of an employed position. Financial incentives offered to recruit physicians

generally are up, while the use of signing bonuses has increased. The 2008 Review also

indicates that physician recruitment is a national challenge, as Merritt Hawkins &

Associates conducted search assignments in virtually all 50 states in 2007/08.
http://www.merritthawkins.com/pdf/mha-2008-incentive-survey.pdf

You are referencing a physician staffing firm? Why don't you go ask a real estate agent how the housing market is while your at it? Do you think they'll tell you the market sucks?

bob2356 says

SF ace says

to end the idea that MD’s salary are going down and job prospect is brim.
SUMMARY
Merritt Hawkins & Associates® 2008 Review of Physician and CRNA Recruiting
Incentives underscores the fact that the demand for primary care physicians continues to
grow while demand for most specialists remains strong. Hospital employment of
physicians also appears to be increasing as many physicians seek the security and relative
simplicity of an employed position. Financial incentives offered to recruit physicians
generally are up, while the use of signing bonuses has increased. The 2008 Review also
indicates that physician recruitment is a national challenge, as Merritt Hawkins &
Associates conducted search assignments in virtually all 50 states in 2007/08.
http://www.merritthawkins.com/pdf/mha-2008-incentive-survey.pdf

All the md head hunters are sucking wind. My wife’s an expat doc who will never practice again in the states. Salaries are most assuredly down, working hours are up a lot, and everyone who can get out one way or another is doing it.

All the OB's in NJ are retiring because they couldn't afford the malpractice insurance anymore.

theoakman says

4X says

RayAmerica says

4X says

3. Next buy only American based computers (HP, IBM, Dell) and stay away from Lenovo products so we dont lose another industry

Too funny. Check and see for yourself where these “American based computers” are made. LOL !!!!

I know they are made out of the country, yet the we still support the American workers based in our country and not housed in Japan or China counters by purchasing American based products.
Shortly after Lenovo told 1,400 of its US-based employees to politely hop off the payroll, IBM’s LEAN plan could call for over 100,000 American workers to be canned in favor of (surprise, surprise) hiring overseas. Already, the firm has laid off 1,300 employees in 2007, but according to a recent report, an ongoing “planning meeting” for how to handle the company’s Global Services could eventually axe “up to 150,000 US jobs” while hiring cheaper labor in China and India. Scary times for these Americans and for you and I seeing that we only keep sending jobs to countries that cannot compete with wages here in the US.
I think i will guide my kids in the direction of becoming a doctor or lawyer…those fields cant be offshored nor can they be neglected by American consumers in favor of companies based in Japan, China or anywhere else for that matter.

Becoming a doctor is a losing proposition. My father is a physician in a specialized area. His income has done nothing but plunge the past 10 years. The story is the same for all of his colleagues. I decided against going to Medical School about 7 years ago when I saw the staggering tuition hikes. Since then, I’ve seen nothing but more hikes for 7 straight years. Any person looking to go to medical school will not get their return on investment. The education is too expensive and doctors are consistently making less money than they used to. All my friends who obtained their M.D. degrees have informed me that the student loans they accumulated through college and medical school prevent them from ever raising their standard of living beyond that of the average American. Hell, I’m making just about as much money as them as a High School Teacher and Graduate Student. The only thing is, I’m not carrying around 300k in student loans to pay off.

geez...300k.

Why is it that every physician that I know lives in a really nice part of town, drives a nice car, and takes nice vacations? I don't know how much they make (I was told it's not polite to talk about how much money you have with friends), but I know for sure that they're making a hell of a lot more than me, and I make over $200k a year.

Kevin says

Why is it that every physician that I know lives in a really nice part of town, drives a nice car, and takes nice vacations? I don’t know how much they make (I was told it’s not polite to talk about how much money you have with friends), but I know for sure that they’re making a hell of a lot more than me, and I make over $200k a year.

I know physicians who drive fords & chevys, who live in normal houses and whose children attend public school. What's your point? I also know construction workers who paid for fancy cars and huge houses who are broke as hell at the moment, can't sell their suv's and give the appearance of wealth.

Nomograph says

theoakman says

All the OB’s in NJ are retiring because they couldn’t afford the malpractice insurance anymore.

Don’t be such a drama queen, Theo. You also claimed you couldn’t get a pharma job because Jon Corzine singlehandedly destroyed the industry, or some such nonsense.
Practicing medicine remains one of the most rewarding careers there is, both personally and financially. It is certainly not for everyone, but very few I know would ever think of leaving the profession. Ever.

That was overly dramatic. What is interesting lately is more and more doc's (OB's at least) are going to cash only. They give the patient the superbill and let them file it with the insurance companies.

I don't know who hang out with, but I know a lot ob's. Many of the ones I know are going to retire as soon as they are able. Much much sooner than they originally planned when the entered the profession. I also do know several that have left the profession.

Kevin says

Why is it that every physician that I know lives in a really nice part of town, drives a nice car, and takes nice vacations? I don’t know how much they make (I was told it’s not polite to talk about how much money you have with friends), but I know for sure that they’re making a hell of a lot more than me, and I make over $200k a year.

You must know a lot of high end specialists or live in a very high end area. Bread and butter docs in the trenches don't usually make over 200k unless they work 100 hour weeks.

$300k for a medical school education. That doesn't count the many years of schooling, the sacrifices made by the doc & his family to attend school and live as a starving intern.

So the doc graduates, completes his internship (for the sake of this example, my doc is a "he") and goes into practice. Out of the $he makes he must pay office rent (medical offices aren't cheap) plus the cost of renovating the offices for his use, and dont forget plumbing for a sink in each room, counters, etc. Supplies: Medical exam tables start at $1,000 which doesn't include shipping. One is needed for each treatment room. Supplies? A good stethoscope is $150 and more than one is necessary. Files/filing system, office supplies, office furniture (it's gotta be nice or the patients will think the doc can't compete with others), copier, telephone system (always expensive, plus monthly costs that are outrageous), power that costs at least twice the cost of residential accounts, transcription service or voice activated system, computer system, billing systems plus staff that includes billing specialists, after hours call service, cellphone service, P.A., nurse or medical assistant... Unreimbursed Lab fees. The costs are astronomical.

Ongoing educational requirements and association fees are also astronmical. Journals too. Reference manuals. So far as his income, don't forget the cost of carrying charges for 2-3 months while the insurance company decides how much it'll pay and the payment finally arrives. Malpractice insurance rates are astronomical - $17,000/year in rural Oklahoma (2005) to $277,000 in Miami (http://www.med.umich.edu/opm/newspage/2005/obgyn.htm).

The cost of a house, that generally must be in an area that's nice and safe but within a quick drive to the office or hospitals - which often means gated communities or higher end homes. The cost of a car for him & his wife. The cost of education for his children. The cost of clothing for him & his family, and trips to keep him sane as he works his ass off to pay for all that.

Does a doc make more than the average educator? Absolutely. But he doesn't get off work and go home and forget about his day. He doesn't (usually) work for other people, so he's the one figuring out business stuff well into the night and he's also the one who is responsible for other people's salaries.

Doctors choose their profession because that's what they want to do and certainly aren't forced to do so, but the idea that an MD will be wealthy is a misperception. When you reduce his pay to an hourly rate, you'll find that the educator that makes $60k a year makes more.

I don't know a teacher that makes that, though. This article appears to be from 2007, before the recession hit as hard as it has which means that there are furloughs and layoffs. http://www.employmentspot.com/employment-articles/teacher-salaries-by-state/

"The most recent report included a list of teacher salaries by state. The state with the highest average teacher salary was Connecticut, at $57,760. California was a very close second, where the average teacher salary is $57,604. New Jersey teachers make approximately $56,635 per year. Rounding out the top five were Illinois and Rhode Island, with the average teacher salary at $56,494 and $56,432, respectively. The state with the lowest average teacher salary was South Dakota, at $34,039."

Insurance companies don't pay the full amount of billed charges. It's usually less than 30% of billed charges. If the patient is assigned to that MD by the HMO, the doc receives the co-pay and a set amount per patient per month - quite low actually, often $5 to $10 per month (or less). That's the amount the MD receives whether he sees the patient once or ten times.

Other insurance plans pay about the same as well. I have your standard insurance, it's a PPO. My doc is a provider so she receives in-contract reimbursement. A full physical that took about 20 minutes was billed at $250; the doc was paid $80 including my co-pay. The follow up a month later to discuss lab findings was $20 total, including my co-payment.

Most hospitals don't employ doctors, the docs admit patients there and see patients there - and the hospital courts them with all sorts of things like great parking and gourmet meals. The ER docs are contracted, usually. HMO's don't employ that many, either. Many physicians join groups so that someone takes over the day to day bullshit of running the biz, and are paid less.

If you are uninsured and you're in the hospital, if you offer them 25 to 30% of the billed charges in cash the hospital makes more money than if they billed an insurance company.

People of the belief that government and civilization are better unwound, that we could all live in harmony if only we got rid of all public employees, they should visit Somalia. I suspect however such people tend to believe that WHITE folks would be well behaved without any organization at all, and that such examples as I toss up are just indicative of "those people".

I think PJ O'Rourke said something once I vaguely recall like:
"Democrats think people are civilized because we have government, Republicans think because people are civilized they create government. People want decent functional government because they want their toilets to flush and the poop to go somewhere out of sight."

There's some truth buried in there. Government is not an external evil. It's a CONSTRUCT that we create and dynamically keep re-inventing and in motion to serve our needs. It does not need to be perfect any more than your toilet does. Some people forget that.

All the NeoCon government-haters forget that government is a utility and serves a purpose. They instead vaccillate between remembering to put on a public face where they "just want to trim 10%" then their mask slips and they rage STARVE THE BEAST reflecting their actual position which would end the IRS and just about everything else, and turn your "public utilities" over to that nice Mr. Potter the banker since privatizing everything solves all problems.