The desperate attempt to bamboozle Millennials into the ObamaCare scam has been going on for years. And why? Because, as Bill Clinton recently stated: "This only works if young people show up." But the truth has been known for almost as long. ObamaCare is actually a wealth-redistribution system in the most regressive manner possible.
Young workers, who find it increasingly more difficult to find jobs, will end up subsidizing the health care of older workers, who are hanging onto jobs longer and longer. Walter Russell Mead and the folks at the American Interest have been hammering this point home for most of the year. And so has Nick Gillespie at Reason. The politics of this wealth transfer is nothing short of perverse. Rates will increase by an average of 169% for the young while older people will pay about 22% less.
ObamaCare turns the concept of health insurance on its head by forcing the young to subsidize the old, rather than calculating for the risk a young person actually poses. Young people won't benefit from purchasing a policy through the ObamaCare exchanges that will cost more with no return on their investment.
Not only is ObamaCare generational theft in the immediate sense, young people who buy a plan through its exchange now won't even benefit in the long-run. A healthy 18-year-old who purchases an ObamaCare plan now is essentially paying an 18% excise tax over his or her entire lifetime. That's intolerable.
ObamaCare contributes to both generational and income inequality by forcing businesses to shift hourly workers to part-time positions and to drop their employer coverage. The economic realities created by ObamaCare disproportionately impact those just entering the workforce and low-income earners.
A serious wealth gap between young and old Americans already exists in this country, and ObamaCare exacerbates it at a time when the unemployment rate for 18 to 29-year-olds is over 60% higher than the national average.
ObamaCare is full of exceptions for those connected enough to get special favors, mostly corporate cronies, congress and their special friends. These inconsistencies contribute to businesses avoiding ObamaCare by shifting to more part-time positions - hurting those looking for jobs after graduation.
Members of Congress and their staff were exempted by the White House from a provision in ObamaCare that stated they must join the exchanges. Additionally, last year the department of Health and Human Services granted waivers to over 543,812 workers represented by labor unions, while 69,813 people employed by private companies received the same special treatment.
Uncertainty surrounding ObamaCare has slowed new business investments. Not knowing what to expect has caused employers - especially small businesses - to halt growth. A recent Chamber of Commerce survey found that 71% of small business owners are finding it harder to make new hires because of ObamaCare.
The implementation of ObamaCare has been riddled with delays and special carve-outs for Democrat Party constituencies and other well-connected groups. Data from the the non-partisan Congressional Research Service shows that ObamaCare has been delayed or amended 19 times - five of which were undertaken by the White House unilaterally.
In order to avoid the economically damaging mandates contained within ObamaCare, businesses are cutting worker hours and dropping health care coverage. This forces people with lower incomes into expensive ObamaCare exchanges in order to access health insurance.
There is also a security issue that should make Millennials think twice about signing up. Now that we know the government has been systematically collecting the phone records and online communications of millions of American citizens, do you want to further compromise your privacy? If you sign up for ObamaCare, your sensitive information will go into a new central data hub - an identity thief's wet dream.
ObamaCare utilizes a data hub to process individual's purchase of health insurance. This data hub will provide unprecedented access of sensitive data to multiple government departments.
The data hub is extremely susceptible to hackers and phishing scams. Also, the "Navigators" hired to secure the private data have not been properly (if at all) trained and vetted.
Furthermore, in light of the recent scandalous revelations about the NSA, the FBI, and the IRS we should strive to protect our privacy, not just from criminals but from bureaucrats who feel empowered to target citizens for their political or religious beliefs.
Scared yet? You should be. Stay safe and watch out for those Navigators...
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