Thursday, December 26, 2013

ObamaCare - The Next Big Government Bail Out

Tucked away in the ObamaCare 2,700 page monstrosity is a little provision that guarantees the insurance companies a government bail out if the the revenues promised them from ObamaCare do not appear.   Since the mix of new customers and the revenues from them is not going to happen, the next government bail out will be going to the insurance companies.  ObamaCare is predicated on the insurance companies gaining 7 million new customers by March, 2014.   But, it is not just any customers.  In order for ObamaCare to work financially, the mix has to be favorable to the insurance companies.  That is, they must sign up about 2 million young healthy people willing to pay higher than necessary medical insurance premiums to subsidize 50 - 64 years old's with pre existing conditions that are signing up for ObamaCare at lower than necessary premium rates and those that are getting subsidies.   ObamaCare is after all a giant redistribution of income Socialist big government Ponzi Scheme. 

And, why should healthy young people that are neither eligible for government subsidies, nor getting employer sponsored health insurance, pay $200 - $400 a month, when they can just wait to get sick to sign up for ObamaCare.  It is just fifth grade math.   Many of these successful young people, the 50% able to find jobs out of university, are paying off student loans and trying to move away from home and live independently.  If they are healthy, the last thing on their minds is health insurance. 

People will sign up for ObamaCare; but they are the wrong people.  About half of them will be signing up for expanded Medicaid at taxpayer expense to get medical insurance for free.  The other half will either be those with pre-existing conditions because they are getting a great deal and or those that will qualify for subsidies again at taxpayer expense.  So these people along with the insurance companies guaranteed profitability win big from ObamaCare.   The rest of us, the 50% of Americans that pay all the taxes in the US, including the 21 new taxes in ObamaCare and the new taxes that came out of the Fiscal Cliff Deal along with the 85% of Americans provided employer sponsored heath insurance that are paying higher premiums to subsidize everyone else are the big losers in this corrupt deal.  This is another big hit to the Middle Class in America. 

Of course, this Blogger heard a young Socialist commentator on MSNBC, the Mindless Socialist Network Broadcasting Company, acknowledge that the Middle Class would take a big hit from ObamaCare, however this 35 year old know-nothing character said it is because the "rich" were not paying their fair share.   We have heard this song before from Socialist idiots and or propagandists that apparently did not learn fifth grade math and it is getting really old.   The fact is that if all assets were confiscated from the top 5% of wage earners and otherwise wealthy people, not just a percentage, it would not cover the annual Obama Deficits, nor could it ever deal with the $100 Trillion of unfunded liability for Social Security, Medicare, Medicaid, ObamaCare and local, state and federal pensions that will bankrupt the United States because there just aren't enough rich people to milk.   The only place to go for this money is the Middle Class, the other 45% of Americans that pay all the income taxes in America and even then, there is not enough money coming from them to cover what has been promised. 

This is the reason why taxes are so high for all working people in Europe, not just the rich.  In order to pay for the nanny state, the Middle Class must be milked, as well, the same as is now happening with ObamaCare.  Hence, the reason this Blogger's employees working in Europe paying very high income taxes, bring empty suitcases to the US during our company meetings to buy goods at CostCo to avoid the 20 - 25% sales taxes common in Europe that triple the price of goods. 

In any case, Obama will bail out the insurance companies during his last three years in office by providing them billions of borrowed, or taxpayer dollars to guarantee their profitability.   Obama will not even have to go back to Congress to get the money.  The law that is ObamaCare will allow Obama to do it by Executive Order to take care of his PEEP's at our expense.  Surprise, Surprise.  Ultimately, ObamaCare must be repealed to stop all this nonsense and provide for real health care reform in America. 

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