Obamacare: Even More of a Scam Than You Thought
It's not "health care." It's not even "insurance." It's a giant, income-transferring welfare scam:
About seven out of every eight Obamacare insurance customers who enrolled between November 15 and mid-December are poor enough to qualify for taxpayer-funded subsidies designed to lower their monthly premiums. The Department of Health and Human Services reported that number Tuesday, saying it's up from 80 per cent a year ago.
Americans who participate in government-brokered medical insurance can get subsidies from the federal treasury if their households earn less than four times the government's official 'poverty' level. That situation describes 64 per cent of all U.S. residents, according to the Kaiser Family Foundation. But far more are qualifying, suggesting that the Obamacare subscriber base is dramatically tilted toward low-income earners.
And as poor Americans depend inreasingly on handouts to manage their monthly health insurance bills, the U.S. Supreme Court could be months away from invalidating the entire subsidy system that supports the 34 states that chose not to run their own Obamacare marketplaces... Insurers are bracing for the possibility that 87 per cent of their new customers in the 34 states without insurance exchanges could suddenly find Obamacare policies financially out of reach – leading to lapsed premiums and a systemwide collapse.
Admit it: you knew it was a scam from the way it was pushed through. Now, however, it's clear what the plan all along was: 1) make it mandatory, 2) put the weight of the IRS behind it, 3) make premiums cripplingly "affordable," 4) offer a "subsidy" carrot, and 5) make the subsidy level just too low for the middle class, so that the class Obama and the Left hate most would bear most of the burden. In other words, reward your friends and punish your enemies.
Nice work, Democrats.