Richard Epstein: The Reid Bill Is Blatantly Unconstitutional

NRO ^ | dec 23, 2009 | The corner

[RummyChick]

Prof. Epstein's focus is very different, and a heartening reminder for capitalists in the age of Obama. Drawing on the Bill of Rights protections against takings without just compensation and deprivation of property without due process of law, and on the Supreme Court's rate-regulation jurisprudence, Epstein concludes that the Constitution assures that "any firm in a regulated market be allowed to recover a risk-adjusted competitive rate of return on its accumulated capital investment." (Citing the Supreme Court's decision in Duquesne Light Co. v. Barasch (1988))

Applying these principles, Epstein concludes:

The Reid Bill emphatically fails this test by imposing sharp limitations on the ability of health-insurance companies to raise fees or exclude coverage. Moreover, the Reid Bill forces on these regulated firms onerous new obligations that they will not be able to fund from their various revenue sources. The squeeze between the constricted revenue sources allowable under the Reid Bill and the extensive new legal obligations it imposes is likely to result in massive cash crunch that could drive the firms that serve the individual and small-group health-insurance markets into bankruptcy.

[HighlyOpinionated]

result in massive cash crunch that could drive the firms that serve the individual and small-group health-insurance markets into bankruptcy.

But Epstein, that's the 0bama plan!

[phredo53]

The Constitution that gives the citizens the rights to remove tyrants from power using whatever means necessary.

Just try to apply that constitutional language to real life by force and see how long you live. You'd be killed for attempting an overthrow of the government. Face it; that language has been dead almost as soon as the ink dried.
Yes, I agree the law is on our side in theory but in practice our only hope is the ballot. I wish the fire in the belly you have would cross party lines.

[The Good Doctor]

"Sotomayor, surely, will make a decisions based not on its constitutionality, but whether or not it will help people of color and whether or not the bill helps the underdog. She will not make a decision based on the law. I pray that I am wrong."

You're not.

[cranked]

[o_zarkman44]

So you are telling me that 100 million Citizens cannot overthrow 535 rogues and crooks?

Yes, very likely people will die. Those in control aren’t going to give it up without a fight. But I don’t think left wingers can hold a candle in a fight against patriots.
They can’t even handle their feelings getting hurt.