What Obamacare (Affordable Care Act) Means for the EconomyCareers Plus Resumes
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.