What Obamacare (Affordable Care Act) Means for the Economy

Posted by Careers Plus Resumes | | Category: Business & Economy | Comments: 8

Only a few days after the implementation of the Affordable Care Act, better known as Obamacare, the United States government still can’t seem to come together on a budget plan to avert the first shutdown in 17 years and save the jobs of over 800,000 people. It may come as no surprise to conservative Americans who are aware of the effects this could have on the economy in the long-run. However, unsuspecting citizens who either don’t have the time or don’t care to watch the news lately, might be surprised to learn how devastating Obamacare might really be to the overall health of the economy.

As a descendant of family members who came to the “New World” on the Mayflower, grandson to a WWII veteran who fought in The Battle of Iwo Jima, and patriot well-educated in American History, I can confidently say that our country has gone blind to reality. The United States was founded on the belief of free enterprise, no over-burdensome taxes, and equality for all. When you take hard earned income from Americans and give to the poor, provide handouts to those who lack motivation, and penalize individuals who opt out of  social programs, it gives people an incentive to not work and creates an unequal playing field for those who do. Not to mention, when you add up your federal income tax (Social Security), state income tax (Medicaid/Medicare), sales tax (everything you buy), and now Obamacare, you are paying the government over 60% of your hard-earned income to support other people! How does this make any sense when we are also $17 trillion in debt?

This is exactly what programs like the Affordable Care Act provide. On Tuesday, October 1st 2013, the Obama administration launched Healthcare.gov and the website servers returned error messages due to the huge amount of visitors trying to sign up for government subsidized medical insurance plans. According to the website, an American citizen can qualify for a plan depending on their income and number of family members in the household. This is nothing more than another form of welfare for the underpaid or unmotivated. The problem with this is it distributes wealth among the population and weakens the overall economy, making the long-term effects potentially disastrous for future generations.

Success is a reflection of character in a lot of cases and innovators who are already successful will not like the fact that their hard-earned money is being taken by force to pay for other peoples’ misfortunes. This just isn’t the American way and history has proven time and time again that socialism doesn’t work for the economy. It is sort of like if you spoil a child rotten, constantly just giving them what they want without having to earn it, they will always expect more while never working for it. It’s basic common sense!

This is not to say programs like this are not beneficial to many people for the short-term, but for the long-term, it will create more economic hardships in other areas of life. For one, people are now required under the law to purchase health insurance regardless of how healthy they are, how much money they make, or if they just don’t want it. If they do not purchase health insurance, they get penalized $95 or 1% of their annual income depending on their earnings for the year. The IRS will automatically deduct this from their refund checks, so it is a tax regardless of how politicians try to spin it. Not only is this law unconstitutional, but it forces Americans to pay for something that they may not even be able to afford depending on their current budgets which would completely defeat the entire purpose of the bill to begin with. You can not only expect your disposable spending money to shrink, but you can also expect a huge decrease in the quality of healthcare across the board which many medical doctors and staff are already beginning to expose.

Obamacare is a way for the government to have complete control over the healthcare industry, under the presumption that it will give people more access to medical care who couldn’t afford it before. However, when I think about a healthcare plan we are forced to purchase, fined if we don’t, which purportedly covers 10 million people without adding a single new doctor, but provides for 16 thousand new IRS agents, written by a committee whose chairman says he doesn’t understand it, passed by a congress who didn’t read it but exempted themselves from it, administered by a treasury chief who didn’t pay his taxes for which we will be taxed for 4 years before any benefits take effect, and all funded by a government that has already bankrupted this nation, I can only assume that this is terrible for the economy. Maybe it’s just me.

So what does Obamacare mean for the economy? Well, we can only wait and see since it is only in the beginning stages. However, many businesses have already been significantly impacted by this bill, forced to reduce labor hours and drop company-paid health insurance for employees due to staggering premium rate increases. I have also seen an increase in my own health insurance premiums and already heard from several friends and family members who say they have received letters from their carriers stating that they will have to make changes soon and their premiums will also increase. This is just one of the many effects the Affordable Care Act could have against the growth of the economy.

As Americans, we need to take a step back and really think about what’s best for this country, not just for a small group of citizens who can’t afford something. Instead of penalizing Americans who don’t have health insurance, why not penalize insurance companies and hospitals for the gargantuan costs of their premiums and medical care? It almost seems as if Obamacare protects the corporations while yet again forcing hard-working Americans to pay for the mistakes or disadvantages of others. Hopefully as a nation we will all begin to pull together and do what’s right for the economy.

 

Discussion

8 Comments
  1. Bruce

    during my formative years, my family was on welfare, with an alcoholic father, and 8 brothers and sisters. Mom worked as a waitress, keeping the family together after dad died rather young. All of us graduated from high school, some from college, one retired from the military (a brother), and one was regional manager for a large and popular chain store. As I was the first to leave the nest, the various jobs I tried were low-paying and not in the least bit satisfying. I decided to learn a trade, but could not afford to go to college or trade school. I availed myself of the one thing left…I joined the Navy and became an Electrician. This very important skill has stood me well over the years, and allowed me to retire in a somewhat comfortable position. The point I’m trying to make is that I pulled myself up by the bootstraps and did whatever was necessary, not caring about whether my contemporaries were protesting the Vietnam war or not. They told me I was wrong. Some of these folks are making do with whatever scraps they can glean from the tables of others, and are wondering why some have it, and they don’t. The more liberal of these ne-er do wells actually have the nerve to suggest I was given what I have and they are entitled to a share. You are the master of your fate, not the government or the people who have what you would like to have.

  2. KATHY

    I have been at my job for 10 years. First off, I think everyone should have insurance; however, I think it should be based on monthly income. Secondly, I don’t appreciate the fact that I am having this law to purchase healthcare when my budget can’t afford it. It just isn’t fair to have struggling families to purchase healthcare that they can’t even afford in the first place. Also, another thing, I don’t think it is right to have insurances and doctors to drop their current customers or patients because of this stupid healthcare law. Also, let me get this straight, if you don’t purchase a healthcare plan or can’t afford to buy insurance, the person is going to be penalized for not having it, which doesn’t seem fair to the American people. The American people don’t want this law but the president (I use that term loosely) is forcing it down our throats on Americans like drugs. He doesn’t even know what is in our budget and know if we can even arfford it. He is putting many families, single parents, and individuals in financial turmoil.

  3. WC

    Alright. If the avg (white) person is paying 60% of their income to the gov. perhaps if they pay 75% then the country as a whole can come out of this mess. The obamacare is aimed at folks still getting descriminated aginst to the point they cant get or keep a job decent enough to own a house so these folks are not in the tax bracket of giving 75% of their income to the gov. Dont like it then quit your job & come live in the hood! Welcome to the party.

  4. George

    The prophet Samuel warned the nation of Israel that if they were to have a king, he would tax them 10% and the people would be the “slaves” of the king. (1Samuel 8:17)

    Moses tells the story of Joseph charging the Egyptian people a 20% tax in perpetuity and describes it as “bondage” and “servitude” to Pharaoh. (Genesis 47:19-26)

    We Americans are under a heavy bondage, enslaved by our governments (federal, state, and local) to pay about 60% of our incomes to the government. Furthermore, even the little we have is subject to the planned inflation by the Federal Reserve Bank, which steals our purchasing power by devaluing our fiat currency. We typically lose about 3% per year of the purchasing power of our money to this deliberate theft caused by inflation. This is what God meant when he condemned the use of dishonest scales. (Proverbs 20:23) Finally, the federal government has made all state usury laws null by allowing “national” banks to charge whatever rate of interest they desire, further enslaving the people.

    Now, we have a mandate to pay a tax for simply being alive. (Obamacare)

    How much more bondage should we endure?

  5. Justin Olsen

    Mr. Graham,

    I appreciate your opinion. That is not at all what I am saying in this post. I am making a clear distinction between progress and socialism, which do not work together and history has proven this time and time again.

    In fact, I do have a clue what it’s like to be poor and living out of a car. I have done it in the past, then picked myself up and made something of myself. Disadvantages happen to all of us, but it is not anyone else’s responsibility to pay for the disadvantages or misfortunes of others.

    When people are able to afford internet and time to blog instead of reading books or learning a new trade, I am curious as to how they feel the need for food stamps or government assistance. You seem to have the luxury of an expensive computer or smart phone to be able to comment on this post, so how is it again you are struggling?

  6. John Graham

    Justin,

    Maybe you haven’t been affected by it, or haven’t noticed it, but there’s been a dearth of decent employment in this country since the bail-out of banks too big to fail. Now, having scrambled to survive since 2009, do you honestly think I should have simply rolled over and DIED instead of procuring food stamps for myself because I can’t find work at age 53-58? You must be PROUD of your comfortable bed at night and joyous over your stock returns as you read them each morning, right? No, you have absolutely no clue what the poor in America are going through, as a general result of being ‘governed’ by folks who can’t govern themselves. Try living in your car for a couple of days; yes, this is AMERICA.

  7. JoNell

    You seem like a smart guy. It’s disappointing to see you stereotype people who receive these benefits as unmotivated, though you admit they are under paid. Do you seriously think how much money you earn is directly related to your character as a person and how motivated you are?

    let me tell you about one of these deadbeats you support.

    When I was younger, I worked two jobs waiting tables. Neither would put me on full-time shifts because they would be required to provide health insurance. This was about ten years ago, well before the affordable care act. The standard pay was $2.13/hour + tips from kind souls I worked hard to serve.

    I was unable to afford college and a home with food at the same time, so I chose to keep working instead of finishing my degree. I tried for the next 8 years to find another job – one that would just give me a chance to do something with my life. All I received was the same repetitive response : “You have no experience and no degree. I’m sorry, I just can’t hire you.”

    That’s not even mentioning my gross inability to afford the extortionate cost of basic medical or dental care. I hope you are never in the position where you have to decide to have a tooth pulled because you can’t afford a root canal.

    I gave up and joined the Air Force. Within my four year enlistment, I was irreparably disabled and retired.

    Now, I am a full time student and finally finishing my bachelor’s degree. I am an active volunteer in the community with a non-profit called Involvement Advocacy. The only way I am able to do this is because of the support of you and our wonderful citizens. I can afford to give my time freely to help others. There is nothing that drives me more to fulfill my potential than the kindness of others who have helped me become greater than I was able to on my own.

    Just don’t throw the baby out with the bath water.

  8. Dave

    Well said Justin, I believe the American people have blindly trusted those in office who pushed this law forward and now will be hurting because of it. Many of the American people are starting to see that they have been lied to, that the law isn’t what it was sold as. I hope they see that the law was changed after it was passed. What is in this law that represents liberty or freedom, these are the things that we Americans have been birthed into but don’t realize how special it is. They are forcing people to buy insurance, what next, then after that, and after that, eventually what??? This isn’t right!!!!!!

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