Government

Obamacare is not paid for by the taxes Republicans tried to repeal. 

Reading the following from Paul Krugman it would be easy to conclude that the cost of expanding health insurance under Obamacare was paid for through higher taxes on a relatively few Americans. That simply is not true. Obamacare costs over $100 billion a year. 

Those misleading words build the case that the primary reason for Republican objections to Obamacare are the taxes on the rich. That’s not true either. Republicans are way off base on their logic when it comes to health care, but we’ve covered that before. 

Obamacare helped a large number of people at the expense of a small, affluent minority: basically, taxes on 2% of the population to cover a lot of people and assure coverage to many more. Trumpcare would reverse that, hurting a lot of people (many of whom voted Trump) so as to cut taxes for a handful of wealthy people. That’s a difference that goes beyond political strategy. 

Paul Krugman, New York Times

As of March 2015, the net cost of ObamaCare was projected to be $1.207 trillion over the 2016 – 2025 period.  The net cost is after offsetting the gross cost by revenue created by ACA such as all the new taxes, including the taxes mentioned by Krugman. 

Obamacare is the six largest expense of the federal government. And for those who say government needs to do more for needy Americans, look at the five higher government expenses. 

We should be more concerned for the middle class, for age 30-55 Americans and for our grandchildren. They are the ones that will carry the burden of the liabilities resulting from social programs promised but never adequately funded. 

Advertisements

1 reply »

  1. As usual, Krugman is flat out lying and he knows it. The reason Obamacare is such a disaster with skyrocketing premiums, deductibles and copays is because Democrats gutted the funding provisions in the original legislation. The legislation was passed purely by Democrats who had no idea was in it. Hence the famous Nancy Pelosi quote ‘we have to pass it to find out what is in it’.

    When they did pass it and finally read it they realized that 90% of the funding provisions negatively impacted Democratic voters. So the Democratic Congress, Obama and the Obama Administration set about repealing or not enforcing any of the funding mechanisms. That is really how we got to the high premiums, deductibles and copays that continue to rapidly increase.

    This may have been the plan all along because Democratic legislators realized that no American, especially Democrats, would be in favor of this and their so-called reform would have once again failed. It only passed to begin with because of their subterfuge.

    Like

What's your opinion on this post? Readers would like your point of view.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s