Posted on 09/14/2013 11:04:20 AM PDT by Jim Robinson
A mere three weeks remain before the Obamacare exchanges open for business. The likely result will be the closing doors on Main Street, as shopkeepers and entrepreneurs shut down, unable to make ends meet. It’s clear that the wounded economy can’t cope with the exploding costs ahead.
Ohio announced that premiums would rise in the individual market by an average of 88 percent next year. Premiums will rise 72 percent in Indiana, 125 percent in Wisconsin. Even California, with its relatively robust individual market, is bracing for increases of 66 percent.
The Obamacare train wreck bearing down on us is about far more than higher costs. A study by University of Chicago economist Casey B. Mulligan documents the perverse Obamacare incentives that encourage Americans to become much less productive. He estimates that the legislation acts as a payroll tax increase for about half the working, non-elderly population earning an average weekly wage. Obamacare will turn those who work hard into losers, declaring part-timers the winners.
A typical family of four with an income of up to $94,200 will get a generous subsidy for health insurance if the head of the house drops out of full-time work and becomes a part-timer. It’s an implicit payroll tax increase of almost 5 percent. The net result is a reduction in productivity throughout the economy.
Imposing a large new tax will persuade many that long hours are for suckers. Many will decide that it isn’t worth the effort and drop out of the work force. Why work full-time to see the money taxed away? Better to work fewer hours and keep the same after-tax income.
Obamacare imposes additional pressure on bosses to move employees to part-time status to avoid large penalties by the IRS. Businesses and some public-sector employers have begun slashing their employees’...
(Excerpt) Read more at washingtontimes.com ...
Reduced incentive to work
Already dropping % adults in workforce
M2 velocity dropping precipitously
What could go wrong with this?
The crappy economy and Obombacare are killing small business. The Yellow Pages have shrunk to less than half their size around here. Many shops and services are out of business.
That was part of the original plan. All going as planned for the central planning wing of the democrat party.
“Some men aren’t looking for anything logical, like money.
They can’t be bought, bullied, reasoned or negotiated with.
Some men just want to watch the world burn.”
-Alfred Pennyworth-
Don't worry.
McConnell, Boehner, and Cantor will “help” the Democrats fix it.
Which is why I say, “Don’t defund it, let it happen”. This fustercluck will be the beginning of the end for the Rats.
When your enemy is digging himself a hole, don’t tell him to stop digging.
Of course Obamacare will fail, in every important sense. But what makes you think it will be repealed?
How many failed government programs have been repealed?
By what process would it be repealed?
Let it just explode..don’t defund it..don’t fix it. Leave it alone.
It will be repealed when the majority of voters, especially the low-information dolts who vote for the Rats election after election, finally figure out how bad it is and vote for candidates who WILL repeal it.
It won’t be repealed but replaced by single payer. That was the plan to begin with.
That was part of the original plan. All going as planned for the central planning wing of the democrat party.
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The law of unintended consequences, historically, has not been something that Democrats have understood.
Your comment suggests that they now, not only understand, but actually planned for this.
While a very few progressive planners may get this, the majority of their blind supporters have no clue.
I know that when push comes to shove, close to 75% of the Democrat party will push back in a way that has never been seen.
The clueless Zombies are getting clued in as their hours are cut and they realize that they have been lied too.
They hate Republicans, mainly because they hate Bush, and this opens the door for Tea Party Libertarians.
That's too risky to let the feds pick and choose what coverage they can afford. The best way out might be to make it voluntary, just like Obama promised in his debates with hillary.
. . . and if ObamaCare proves to be the disaster it appears to be then let’s hope voters remember this in the next couple election rounds. At the rate Obama is going his two terms may be remembered as the most incompetent administrations ever which transformed the country into an intractable mess. As much damage as he is doing I actually belief it is not beyond repair, and with a conservative President and Congress the country can rebuild itself. We are stronger than the twerp and his political hacks who now control The White House. I believe the younger generation is going conservative — Ted Cruz, Rand Pual — and those old eighty year-old liberal like Feinstein and Reid will retire soon enough.
“Health law’s ailments can be cured by single-payer system”
All the shortcomings of the healthcare restructuring result from the decision to leave it in the hands of private insurers...
http://www.latimes.com/business/la-fi-hiltzik-20130911,0,2211922.column
Right on cue, we will be seeing many more articles like this one from 4 days ago.
Guess what — it is.
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