You must have health insurance or you will have to pay a penalty tax. It is the law.
Middle class people will be penalized especially those who are unemployed or under-employed. The reason is that it would be advantageous for employers to hire those below the age of 26 first. They can be carried under their parent’s insurance so an employer would not have to pay for their health insurance besides having them at the lower end of the pay scale.
Those who are older than 26, in particular those in their 40’s, 50’s and 60’s, will be at the end of the hiring line. To buy health insurance or to pay the penalty tax you need money. How will they be able to afford either option?
Add to the misery those families who lost their homes through foreclosures or cannot sell their homes because they are “under water.” Homes that are “under water” have lost their value to the point that the mortgage payments are higher than the value of the house. Home prices are down because demand is down. Where I live people cannot sell their homes so they are leasing or renting them in order to obtain money for their mortgages. The other week our local newspaper had three full pages of homes up for sale because the home owners could not pay their property taxes. How can those homeowners pay for health insurance or the penalty tax when they cannot afford their property taxes?
Under these conditions, ObamaCare is already in trouble with the finances. Millions will not be able to buy health care insurance nor will they be able to pay the penalty. So the basic premise that all Americans will have health care insurance is a joke. There is no way the government can compel people to buy health insurance or pay a penalty tax if they don’t have the money. The Democrats and the Obama Administration have no procedure in place to address this dilemma; therefore, the cost for this national program will fall back on businesses and taxpayers in the form of higher taxes. Those who think this will reduce costs are delusional.
This has been the longest non-recovery from a recession in American history and there is no end in sight. Despite what Obama claims, he does not know how to grow the economy and create jobs. His stimulus failed and ObamaCare will fail. ObamaCare will just send the United States deeper in debt, expand the deficit and retard economic recovery. The hue and cry from Democrats that more money must be spent to stimulate the economy demonstrates they are unrealistic. If it didn’t succeed the first time, why would it succeed the second time around? Einstein was right, “Insanity is doing the same thing over and over again and expecting different results.”