Obamacare: A Deception
Paul Craig Roberts, Counterpunch 5 February 2013 (hat tip: NC)
What this means is that those Americans with the least or no disposable income are faced in effect with a substantial pay cut. The author provides an example of a 35 year-old with a MAGI of $27,925. The out-of- pocket cost to this person of a Silver level plan (second least expensive) is $187.33 per month. This cost is based on pre-tax income, that is, before income is reduced by payroll and income taxes. There goes the car payment or utility bill. The lives of millions of Americans will change drastically as they struggle with a new, large expense – particularly in an era of no jobs, low-paying jobs and rising cost of living.
The general outline of Obamacare was outlined by the insurance industry. That the end result that came out of all the political haggling may bankrupt them is a possibility. However, they were very much at the table when the ball got rolling.