During the second day of argument on the ObamaCare case, Supreme Court Justice Samuel Alito summed up what ObamaCare really is — a transference of money from the young to the less young:
JUSTICE ALITO: You can correct me if these figures are wrong, but it appears to me that the CBO has estimated that the average premium for a single insurance policy in the non-group market would be roughly $5,800 in — in 2016. Respondents — the economists have supported — the Respondents estimate that a young, healthy individual targeted by the mandate on average consumes about $854 in health services each year. So the mandate is forcing these people to provide a huge subsidy to the insurance companies for other purposes that the act wishes to serve, but isn’t — if those figures are right, isn’t it the case that what this mandate is really doing is not requiring the people who are subject to it to pay for the services that they are going to consume? It is requiring them to subsidize services that will be received by somebody else.
ObamaCare’s individual mandate forces young people who would normally use $854 per year for health care services, to instead pay $5,800 per year. Only in government mandates, would such a gross and unfair overpayment for services not rendered be accepted. If a business did something like this, its CEOs would go to jail — unless they’re Jon Corzine, anyway.
The mandate hits people who are, in Obama’s economy, among the most vulnerable. Unemployment among younger Americans is at its highest point since World War II. Obama’s policies have made it harder to get a job, harder to launch a company (we can thank ObamaCare specifically for that), and harder to keep a job. Despite Obama’s promise that “if you like your health care plan, you can keep it” (setting aside the arrogance of that statement for now), employers are more likely to drop health care plans once ObamaCare goes into full effect in 2014. For those who entered the work force in 2008 and after, the economy just has not recovered at all and should they be lucky enough to land a job with benefits, those benefits are on a knife’s edge.
The ObamaCare individual mandate hits the young twice, by making jobs for them more scarce while also requiring the young to subsidize the health care of the old. That’s where that extra $4,946 is going.
Then factor in the massive debt burden that President Obama has placed on the young. His policies amount to a giant systemic transfer of wealth from today’s young and their offspring, to the current generations in middle and old age.