In a close 5-4 decision, the Supreme court says Congress was acting within its powers under the Constitution when it required Americans to carry health insurance or pay a penalty!
The legislation is 1,000 pages long so I can't even come close to understanding all the nuances of the bill. All I understand is that those against Obamacare think the bill is a violation of individual rights by our big bad federal government. In addition to the perceived violation of human liberties, the question is who is going to pay for universal healthcare?
Those for Obamacare say that the legislation is not a violation of individual rights but only a tax on people who don't have healthcare. Justice Roberts explains, “The mandate is not a legal command to buy insurance. Rather, it makes going without insurance just another thing the government taxes, like buying gasoline or earning an income.” I guess that makes sense. The other reason for Obamacare is that in a country as rich as the USA, all people should be have health insurance, rich or poor.
LOTS OF UNINSURED
There are supposedly 32 million people in America without healthcare. Some of them think they are healthy enough that they don't need healthcare. Meanwhile, the large majority of people who don't have healthcare is because they can't afford healthcare! Hence, the irony is that if you penalize people who don't have healthcare with a 1-2.5% extra income tax hike a year, you are essentially making the poor even poorer! They are already annoyed the government is making them abide by more rules!
Meanwhile, payroll taxes for small businesses and income taxes for the wealthier population will go up to fund Obamacare because income tax hikes on the poor are not going to cover the cost of the program. Supposedly most of the 32 million people without healthcare will get partial or if not full subsidy by the government to get healthcare. Of course that is not going to make the people who have to pay more taxes happy.
If the poor and rich and independent people of America are all pissed off about Obamacare, who is really happy the bill may pass besides President Obama and the people who serve him? If you have health insurance or can't afford health insurance you're likely unaffected. Those who are stuck in the middle now need to watch out for the encroaching Sentinels!
WINNERS AND LOSERS OF OBAMACARE
There is always a good side to everything. You know that from reading my site for past several years that I am a super optimist. As a result, here are the perceived winners and losers of Obamacare.
* Fast food industry. Dunkin Donuts, McDonald's, Burger King, In N' Out Burger, etc.
* Medical device industry. Johnson and Johnson, Medtronic, Cardinal Health, Baxter International are makers of stents, heart transplant equipment and other devices.
* Drug industry. Cholesterol lowering drugs such as Liptor, Zocor, Crestor, Lovastatin, and Lescol are made by Pfizer, Merk, Dr. Reddy's and more.
* American car makers e.g. Ford, General Motors.
* Waste Management companies.
* Small businesses owners of cupcakes, BBQ, gourmet burgers, and gourmet ice cream.
* People who hate working out.
* Folks who appreciate delicious food.
* Those who want health care insurance but can't afford health care insurance.
* Bootstrapping entrepreneurs.
* Young adults under 26 years old who can stay on their parent's healthcare insurance.
* Those with pre-existing medical conditions will not be denied healthcare.
* Those with serious medical emergencies cannot be turned away.
* Gym industry in the short run e.g. Bally's Fitness.
* Health food restaurants e.g. Chucky Cheese's just kidding.
* Nutrition stores e.g. GNC.
* Athletic apparel e.g. Lululemon.
* Small car makers e.g. Toyota, Honda, Tesla.
* Organic movement e.g. 9 Rabbits Granola bars, farmer's markets, Wholefoods.
* Diet industry short term e.g. Weight Watchers.
* Yoga instructors, personal trainers, nutritionists, and workout fanatics.
* School administrators and parents who regulate what kids can and cannot eat.
* Small businesses that are barely hanging on and need to pay more taxes.
* Employees of small businesses that are barely hanging on who might be fired to cut costs.
TO A BETTER TOMORROW
People are very rational. The reason why I don't have a four pack anymore is because I'm too lazy to do sit-ups everyday and I looooove eating yummy food! The joy of not exercising and eating anything I want “outweighs” the joy of having four-pack abs. Now, if I was living in Hawaii and got to surf all day, I might recalibrate my attitude more towards having a tighter stomach.
We all know that being overweight puts a strain on our hearts and other organs, leading to other problems down the road. But, we still eat more than we should and exercise less than we should because we love food and exercising sucks! Just look at the seven layer chocolate cake in the picture to the right. There's no way you can resist!
Because I love food, hate the gym, and believe every person in a country as rich as ours should have access to health care, I am 65% in favor of Obamacare. Disease does not discriminate between rich or poor. Why should only those who can afford healthcare get to live? It just doesn't seem right and we should pitch in to help those who are too poor to afford care.
Yes, payroll taxes on businesses will go up and income taxes will also be raised on evil rich people. It also feels bad that the government is all up in our business. But, aren't these small prices to pay for not having to hit the gym after an amazing seven layer chocolate fudge cake? I think so!
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Updated for 2018 and beyond.