Yep, we’ll see acres of that. Having continued to think through the ultimate impact this will have, I realized several things this a.m. First, it will have a long term, devestating effect on the Real Estate market. Those living in the “middle” will no longer be able to save up money for a down payment because they’ll have what amounts to an extra car note to pay every month. Also, lets say a person is fortunate enough to be able to make enough money to afford a house note, would that person be dumb enough to buy something the IRS can easily “attach” and confiscate if that person were unfortunate enough to fall out of the system for a time and not be able to keep up with the health insurance premiums? (assuming there’s any equity in it). Worse, would anyone ever again be dumb enough to “pay off” a house? All that would do is create an enormous stockpile of an asset for the IRS to come in and confiscate.
Second, as time goes on, it will erode savings and stock market investing because 1) with the extra car note people won’t have anything left over to save and 2) if you’re working off the books in the underground economy, say, selling shoes at the flea market, (I know a woman who’s been doing that for years), you’re going to stuff what savings you have under a mattress rather than invest it in something the IRS can find and attach.
All of this will slowly come to light over the years and be commented on as an unintended consequence. Don’t believe it. It’s fully intended. What this does is end the “American” dream as it was once know of home ownership and financial independence. It does to the U.S. what Europe already has.......a non-ownership, rental, society where wealth is concentrated entirely in the pockets of the ruling elites, the banks and the corporations. But, the Global Marxists who’ve engineered this mess fully intended it should thus be so. They couldn’t any longer tolerate the wealth imbalance between the U.S. American middle class and the middle classes of the rest of the western democracies, if for no other reason than the fact that it’s created a huge emigration/brain drain for the other countries. Now......there’s no reason to come to the U.S. They wouldn’t be anymore able to look up here than they can there.
To better understand what’s going to happen in the future, read and think about this, the ultimate horror!
http://www.cnsnews.com/news/article/63181
Not to mention those who are barely hanging on to their mortages now since the mortage is waaay too much of a percentage of their monthly income. Some [or a lot?] are able to barely keep their heads above water because they have no insurance - the money they save goes into mortgage.
Now, they are going to have to pay for the insurance - with no increase in monthly income. CAN you spell ... FORECLOSURE ???