Posted by: The Elephant Owner in Health Care,Obama Administration on September 21st, 2009

From the NY Post:

The poor will still have Medicaid. But for those earning more, the required premiums will be worse than any tax increase. For example, CBO estimates that when the program is fully implemented — by 2016 — an individual earning $32,400 a year would have to pay $4,100 in premiums before getting any subsidy. With deductibles and co-payments, he’d have to shell out $5,600 a year, or 17.3 percent of his income. A family of four, making $80,000 a year, would have to pay about $10,500 in premiums alone — with deductibles and co-payments, up to $15,000 or just under 20 percent of income.
Obama: Might lose even those now who lack insurance.

And if they don’t buy insurance, they’ll face federal fines that begin to approach these same premium levels. They won’t be able to buy what they truly need — catastrophic-only coverage at a lower premium — that won’t satisfy ObamaCare’s “minimum insurance” mandate.

The young and uninsured will catch on: This bill is designed to force healthy people who don’t have health insurance — and may neither need nor want it — to buy it anyway, in order to raise the money to subsidize those who do need it.

Obama has pledged only to increase taxes on the rich. But his program essentially taxes the core of the middle class (those making $30,000 to $80,000). It will make them overpay in order to pick up the slack for others who need the extra coverage.

Read more…

The richest generation is also the unhealthiest generation.  President Obama’s plan essentially is wealth redistribution from the poorest  generation (young people just starting their careers) to the richest generation. How’s that for social justice?

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