Many people without government subsidies cannot afford health insurance coverage under Obamacare. The Congressional Budget Office (CBO) estimates that in the years from 2020 to 2030 the annual cost of the subsidy for The Affordable Care program will rise to $1.4 trillion per year in 2030. According to the same CBO report, over the ten years ending in 2030 the total amount of the subsidies is estimated to be $10.4 trillion.
The real question for Americans is, how do Obama Care income thresholds impact those people who are just over the line in terms of the amount of household income required to be included in the insurance program? In other words, the insurance cost without the subsidies? As an example, a 60-year old couple in Grand Island, Nebraska making $70,000 a year, is making just slightly too much to qualify for a subsidy from Obamacare. The couple is faced with paying $38,000 (over half of their yearly income) to buy a plan which also has an $11,100 annual maximum out-of-pocket limit.
This is hardly ‘affordable’ care as the name of the act suggests. I have to ask the question, should the government run America’s healthcare system? I looked back at the history of The Affordable Care Act and found out that the problem is really about words. When we started down this journey the word used to describe the Act was that 45 million Americans were without ‘healthcare’ which was not true because hospitals cannot turn anyone away if they cannot pay for care. The next move was to change the term to ‘Healthcare insurance.’ That was a true statement but millions of people who could afford insurance decided for various reasons, not to buy healthcare insurance, especially young people who didn’t believe they needed it. Another example, the last year before I went on Medicare, long before Affordable Care, my annual premiums were over $24,000 for me and my wife. In addition, we had a sizable out of pocket expense, for office visits and procedures.
Americans were told 29 times what the Washington Post called the Lie of the Year 2013 when President Obama said, “If you like your doctor, you can keep your doctor, and if you like your plan, you can keep your plan.” I wonder what Joe Biden will say, trying to sell us Biden Care? Recently Biden talked about what Biden Care would look like and he said he was not going to eliminate private insurance. He has told us that Biden Care will offer a subsidy for those who cannot afford the private premiums. The government, using your tax dollars, will under price the private sector until the insurance companies pull out of the business the result will be single payer health care insurance the US Government.
Speaking of using tax dollars to pay for health insurance, the Biden campaign wants to provide free health insurance to all illegal aliens already in the country, in addition to those people crossing the border and entering the country illegally now. The Democrats want to offer free Medicare for all to replace all the other government health care programs at a cost estimate of $52 trillion over 10 years. A question to Biden what does it cost after ten years?
At some point in time somebody has to stand up and ask the question, how do you pay for this healthcare? The simple answer offered by Biden is to tax the rich who have more and can pay more. Bloomberg reports that the net worth of the top 1% of American is $35.4 Trillion. The simple math is, if you take away all of the net worth of the top 1% you would not have enough to cover the cost of Medicare for all let alone all of the other programs being suggested. If you tax away all of the assets of the richest Americans, then they have no income and therefore would pay no income tax. Taxing the rich does not produce enough money.
According to the Tax Foundation, the top 1% of taxpayers pay over 37% of all tax revenue to the government. Once the income and assets are taxed away from the 1%, the rest of us will have to cover 100% of the expenses of the government. Think about the lost tax revenue to states, cities and counties if the rich are no longer rich? Biden says he will increase taxes on those people who make more than $400,000 a year. The truth is when the have take all the money from the rich you and I are next.
Our central government cannot be all things to all people we plain just don’t have the money.
Dan Perkins is a published author of 4 novels on nuclear and biological terrorism against the United States and is a current events commentator for over 20+ news blogs. He recently has had commentaries posted on Medium, Conservative Truth, and Newsmax among others. He appears on radio and TV regularly many times a month. Dan’s newest show is called “America’s Cannabis Conversation,” on the W420radionetwork.com. His latest entrance in communications is his first weekly Podcast called “What’s on My Mind?” This can be heard on SoundCloud; just look for the name of the show or Dan Perkins. More information on Perkins can be found on his web site: danperkins.guru
#Joe must Go