Healthcare is already under-regulated. That's how shit like homeopathy keeps showing up on pharmacy shelves. I'd prefer to be treated by an actual doctor, not an alternative health practitioner posing as one thanks to deregulation.
To buy dandruff medicine you need to get approval from a Physician, a pharmacist, and pharmacy. Not to mention the actual product regulations.
We've had 140 years of regulation. It was to protect healthcare workers at our expense.
I'm sure you're right, and without regulation doctors would be paid less. They'd make it up in direct sponsorships from pharmaceutical companies though.
Sometimes well intentioned regulation gets it wrong. Sometimes it's perverted in Congress. Sometimes it's designed to fail. It is congresses responsibility to police themselves as much as it is the people's. When regulation fails fix the regulation. That's hard when Republicans are dying on the hill of Government Bad.
"No one will really understand politics until they understand that politicians are not trying to solve our problems. They are trying to solve their own problems -- of which getting elected and re-elected are No. 1 and No. 2. Whatever is No. 3 is far behind".
Thomas Sowell
Although not perfect, the FDA seemed to do the right thing in the case of Thalidomide.