"Profits first" is the essence of American capitalism and its political retainers.
Most industrialized countries have had to deal with their heritage of capitalists who maintained feudal attitudes toward employees up to at least World War. One of the ways of putting an end to the militarism in political life that had made possible the likes of Hitler in Germany and Mussolini in Italy, and brought France to the brink of a fascist takeover in the 1930s was to make governments responsible for such 'welfare' concerns as health care. Maybe countries that had to tax and spend for social welfare couldn't seek more 'adventurous' activities such as expanding colonial empires or bullying their neighbors.
Yes, the Cold War played its role. European and Japanese capitalists recognized that if they were to preserve capitalist enterprise, they would have to make capitalism a desirable system for people other than capitalists, in part because Soviet Communism was a clear threat. After all, local commies weren't talking about the worst of Stalin but instead the promise of Marxism to do better than capitalism in creating social equity and general prosperity because it would cut out the 'parasitic' class of property owners. Casting off the worst features of feudal inequities in rural areas and of early-capitalist ways in business was one way to preserve capitalism. It worked well enough that when Communism died, the European welfare state -- and not the American-style economic order -- prevailed where Commies had ruled.
We still had the semi-feudal land order in the South in which a few big landowners dominated the political order after World War II -- and it is still there. As an example, the Alabama state constitution still prohibits taxation of land dedicated either to the production of cotton or timber. If one isn't a cotton planter or a tree raiser in Alabama one pays for that tax break largely to people whose economy is still holds pre-industrial attitudes in ways other than higher taxes. We have business interests who would be delighted with the abolition of minimum wage laws. Licit loansharks, some operating in impressive offices and having a role in the Establishment, seek to return to the days when one could change interest rates at will.
Does anyone begrudge the Medicare taxes on payroll? Could those double without us feeling hurt, so long as those covered medical care for all? Couldn't we have a small federal sales tax that ensures that if we buy food in a mom-and-pop restaurant that doesn't really pay its family workforce, then those workers would have health care when they need it?
Poor people pay for our economic cruelty, and not only for poor or unavailable health care. The atomized social order that we have in which the 3T ethos of "every man for himself", "I've got mine, $crew you!" and "the Devil Take the hindmost" has begun to hurt people. At its worst it can kill.
The greatest evil is not now done in those sordid "dens of crime" (or) even in concentration camps and labour camps. In those we see its final result. But it is conceived and ordered... in clean, carpeted, warmed and well-lighted offices, by (those) who do not need to raise their voices. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern."
― C.S. Lewis, The Screwtape Letters