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Tuesday, September 22, 2009

Obamacare Bleeding Support

The New York Post discusses exactly who Obamacare is losing by way of support.

The list includes, the elderly, the young, the rich and the middle class.

THE elderly were the first group to turn against President Obama's health-care pro posals, alienated by the plans to cut $500 billion cut from Medicare. The young and the uninsured may be the next to jump ship -- out of worry over about the huge premiums they'd have to pay.

Requiring everyone to buy insurance will impose a massive tax on all who now are uninsured. The Congressional Budget Office projects that it would force the middle-income uninsured to pay on average more than 15 percent of their income.

The poor will still have Medicaid. But for those earning more, the required premiums will be worse than any tax increase. For example, CBO estimates that when the program is fully implemented -- by 2016 -- an individual earning $32,400 a year would have to pay $4,100 in premiums before getting any subsidy. With deductibles and co-payments, he'd have to shell out $5,600 a year, or 17.3 percent of his income. A family of four, making $80,000 a year, would have to pay about $10,500 in premiums alone -- with deductibles and co-payments, up to $15,000 or just under 20 percent of income.

And if they don't buy insurance, they'll face federal fines that begin to approach these same premium levels. They won't be able to buy what they truly need -- catastrophic-only coverage at a lower premium -- that won't satisfy ObamaCare's "minimum insurance" mandate.

The young and uninsured will catch on: This bill is designed to force healthy people who don't have health insurance -- and may neither need nor want it -- to buy it anyway, in order to raise the money to subsidize those who do need it.

Obama has pledged only to increase taxes on the rich. But his program essentially taxes the core of the middle class (those making $30,000 to $80,000). It will make them overpay in order to pick up the slack for others who need the extra coverage.

In other words, health-care "reform" is a health-care tax dressed up as a program to cover the uninsured.

Many wave away The New York Post as a "conservative" media outlet, so let us bypass this and go straight to the AP, who has made it a habit of apoligizing and spinning stories, usually, in a pro-Obama direction.

Seems even they are calling out Obama on his lies about Obamacare, headlining with "SPIN METER: $2 trillion in health savings? Where?"