Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
S&P 500 Stuck at 2,900, Still No Clear Direction - 17th June 19
Is Boris set to be the next Conservation leader? - 17th June 19
Clock’s Ticking on Your Chance to Profit from the Yield Curve Inversion - 17th June 19
Stock Market Rally Faltering? - 17th June 19
Johnson Vs Gove Tory Leadership Contest Grudge Match Betfair Betting - 17th June 19
Nasdaq Stock Index Prediction System Is Telling Us A Very Different Story - 17th June 19
King Dollar Rides Higher Creating Pressures On Foreign Economies - 17th June 19
Land Rover Discovery Sport Tailgate Not Working Problems Fix (70) - 17th June 19
Stock Market Outlook: is the S&P today just like 2007 or 2016? - 17th June 19
US China War - Thucydides Trap and gold - 16th June 19
Gold Stocks Bull Upleg Mounting - 16th June 19
Gold Price Seasonal Trend Analysis - Video - 16th June 19
Fethiye Market Fruit, Veg, Spices and Turkish Delight Tourist Shopping - 16th June 19
US Dollar Gold Trend Analysis - 15th June 19
Gold Stocks “Launch” is in Line With Fundamentals - 15th June 19
The Rise of Silver and Major Economic Decline - 15th June 19
Fire Insurance Claims: What Are the Things a Fire Claim Adjuster Does? - 15th June 19
How To Find A Trustworthy Casino? - 15th June 19
Boris Johnson Vs Michael Gove Tory Leadership Grudge Match - Video - 14th June 19
Gold and Silver, Precious Metals: T-Minus 3 Seconds To Liftoff! - 14th June 19
Silver Investing Trend Analysis - Video - 14th June 19
The American Dream Is Alive and Well - in China - 14th June 19
Keeping the Online Gaming Industry in Line - 14th June 19
How Acquisitions Affect Global Stocks - 14th June 19
Please Don’t Buy the Dip in Nvidia or Other Chip Stocks - 14th June 19
A Big Thing in Investor Education is Explainer Videos - 14th June 19
IRAN - The Next American War - 13th June 19
Boris Johnson Vs Michael Gove Tory Leadership Grudge Match Contest - 13th June 19
Top Best VPN Services You Can Choose For Your iPhone - 13th June 19
Tory Leadership Contest Betting Markets Forecast - Betfair - 13th June 19
US Stock Market Setting Up A Pennant Formation - 13th June 19
Which Stocks Will Lead The Cannabis Rebound? - 13th June 19
The Privatization of US Indo-Pacific Vision - Project 2049, Armitage, Budget Ploys and Taiwan Nexus - 12th June 19
Gold Price Breaks to the Upside - 12th June 19
Top Publicly Traded Casino Company Stocks for 2019 - 12th June 19
Silver Investing Trend Analysis - 12th June 19
Why Blue-Chip Dividend Stocks Aren’t as Safe as You Think - 12th June 19
Technical Analysis Shows Aug/Sept Stock Market Top Pattern Should Form - 12th June 19
FTSE 100: A Top European Index - 12th June 19
Gold Surprise! - 11th June 19
How Forex Indicators are Getting Even More Attention in the Market? - 11th June 19
Stock Market Storm Clouds on the Horizon - 11th June 19
Is Your Financial Security Based On A Double Aberration? - 11th June 19
What If Stocks Are Wrong About Interest Rate Cuts? - 11th June 19
US House Prices Yield Curve, Debt, QE4EVER! - 11th June 19
Natural Gas Moves Into Basing Zone - 11th June 19
U.S. Dollar Stall is Good for Commodities - 11th June 19
Fed Running Out of Time and Conventional Weapons - 11th June 19
Trade Wars Propelling Stock Markets to New Highs - 11th June 19
Best Travel Bags for Summer Holidays 2019, Back Sling packs, water proof, money belt, tactical - 11th June 19
Betting on Next British Prime Minister Tory Leadership Betfair Markets Forecast - 10th June 19
How Can Stock Market Go Up When We’re Headed Towards a Recession? - 10th June 19
If You Invest in Dividend Stocks, Do This to Double Your Returns - 10th June 19
Reasons for the Success of the Dating Market - 10th June 19
Gold Price Trend Analysis - Video - 10th June 19
US Stock Markets Rally Hard – Could Another Big Upside Leg Begin? - 10th June 19
Stock Market Huge Cosmic Cluster Ahead: Buckle Up! - 10th June 19
Stock Market Higher To Go? - 10th June 19
The Gold Price Golden Neckline… - 10th June 19
Gold Price Seasonal Trend Analysis - 9th June 19
The Fed Stops Pretending - 9th June 19
Fed Rate Cuts Soon; Bitcoin Enthusiasts Join Wall Street in Bashing Gold - 9th June 19
1990s vs. 2010s - Which Expansion Will be Better for Gold? - 9th June 19
Gold Price Trend Analysis, MACD, Trend Channels, Support / Resistance - 8th June 19
Gold Surges Near Breakout - 8th June 19
Could Gold Rally Above $3750 Before December 2019? - 8th June 19
5 Big Lies About Precious Metals Investing Exposed - 8th June 19

Market Oracle FREE Newsletter

Gold Price Trend Forecast Summer 2019

The 7 Biggest Obamacare Lies

Politics / US Politics Feb 11, 2013 - 01:05 PM GMT

By: Money_Morning

Politics

David Zeiler writes: As more of the 2009 healthcare reform law becomes reality, Americans are learning the hard way that many of the biggest Obamacare promises were Obamacare lies.

In retailing, they call this sort of thing "bait-and-switch," and it's against the law.

In Washington, it's called "business as usual."


During his first campaign for the highest elected office in the land, and later as he sought to push the Affordable Care Act (ACA) through Congress, U.S. President Barack Obama made a lot of enticing promises.

Some of these claims were true - under Obamacare, people can't be refused coverage for pre-existing conditions, for example - but many were assurances to the average American that no matter what, healthcare reform was almost all positive with few or no negatives.

Now we know that most of those assurances were Obamacare lies.

The Biggest Obamacare Lies

Obamacare Lie #1: "If you like your healthcare plan, you'll be able to keep your healthcare plan. Period. No one will take it away. No matter what."
President Obama said this often. But for many Americans, that promise will be broken. This week, the Congressional Budget Office issued a report in which it estimated that by 2022, Obamacare will cause 7 million Americans to lose their employer-based health insurance. That's because many of the Obamacare benefits will make many plans more expensive, prompting employers to drop coverage. Ironically, this broken promise could affect millions of workers in unions, which campaigned hard to get President Obama elected.

Obamacare Lie #2: "Under my plan, no family making less than $250,000 a year will see any form of tax increase."
Here at Money Morning, we told you about numerous Obamacare taxes, hidden and not-so-hidden, that will hit the middle class. In addition to the notorious "mandate tax," middle-class Americans will get hit by taxes levied on businesses that will get passed through to consumers, particularly the 2.4% tax that covers any medical device that cost $100 or more. Other Obamacare taxes affecting the middle class include a 10% tax on tanning services and a doubled penalty on withdrawals made from Health Savings Accounts (HSAs) for non-medical purposes.

Obamacare Lie #3: "I will not sign a plan that adds one dime to our deficits - either now or in the future."
This week, the CBO again raised its estimate on what Obamacare will cost over the next decade, from $814 billion to $1.047 trillion. While President Obama has claimed the ACA will actually reduce deficits due to all the money raised from taxes, penalties and fees, critics say much of the "savings" result from accounting tricks and double-counting. And with Obamacare's estimated costs rising rapidly, it's more a question of when, not if, the law will begin contributing to the federal budget deficit.

Obamacare Lie #4: Obamacare will "cut the cost of a typical family's premium by up to $2,500 a year."
Sorry, the "Affordable Care Act" will in fact make healthcare insurance far less affordable. On Jan. 30 the IRS released new regulations regarding Obamacare - remember that the IRS is in charge of penalizing you should you fail to purchase the mandated insurance - that included cost estimates for the plans the government will offer. For a family of four, the cheapest plan - dubbed Bronze in Obamacare-speak - will cost $20,000 a year in 2016. That's an increase of more than $4,000 from the average of $15,745 such families paid in 2012.

Obamacare Lie #5: The new healthcare law will improve, not hurt, the quality of American healthcare.
We don't have proof of this yet, but given that more people (Obamacare provides coverage to millions of people who do not now have it) will be using the same amount of healthcare resources, it stands to reason that quality will decline. Here's what Dr. Adam Frederic Dorin said in a recent article in The Washington Times: "Most doctors will not be able to afford to see patients with an Obamacare card. This means that patients will be increasingly relegated to longer lines in publicly funded clinics.... More patients will be denied access to advanced, cutting-edge drugs like chemotherapeutics."

Obamacare Lie #6: It's not a government takeover: "I don't believe that government can or should run healthcare."
Although Obamacare doesn't seize total control of the U.S. healthcare system, it extends the tendrils of government deep into it and gives the Department of Health and Human Services broad powers. One particularly troubling example is the Independent Payment Advisory Board, which will have the power to lower payment rates for Medicare treatments, which could reduce the care available to seniors.

Obamacare Lie #7: The state health insurance exchanges will open on time.
One of the keys to fully implementing Obamacare is launching the so-called health insurance exchanges in each state, where people will be able to shop for health plans using tax credits. The CBO this week contradicted assurances from the Obama administration that the exchanges will be ready later this year. The CBO report said the exchanges are unlikely to open in October, as promised, because they won't have enough plan options, and people will be reluctant to use something untested and unfamiliar.

Source :http://moneymorning.com/2013/02/08/the-7-biggest-obamacare-lies/

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules