Shocker: #Obamacare not shielding consumers from costs

December 1, 2014
"Obamacare has arrived"

“Obamacare has arrived”

There’s an interesting article at Hot Air in which Ed Morrissey interprets the results of a Gallup survey that, contra the intentions of Obamacare’s author’s, many people are still putting off medical care, including for serious conditions, because of cost. Bear in mind that one of the goals of the new system was to keep people from having to make choices about their care based on cost. Instead, in some demographics, the numbers of those putting off care has gone up:

However, the percentage of those who put off care due to cost issues actually rose among those with private insurance — by almost double digits, in fact:

“Among Americans with varying types of medical coverage (including no coverage), uninsured Americans are still the most likely to report having put off medical treatment because of cost. More than half of the uninsured (57%) have put off treatment, compared with 34% with private insurance and 22% with Medicare or Medicaid. However, the percentage of Americans with private health insurance who report putting off medical treatment because of cost has increased from 25% in 2013 to 34% in 2014.”

(Emphasis added)

Now, why is this? Ed offers some speculations:

There are a few possible reasons, with the truth probably in combination of some:

  • The so-called recovery isn’t actually boosting workers the way Democrats claim.
  • Forced carriage of health insurance takes too big of a bite out of workers’ disposable income.
  • The health insurance that consumers get has too large of a deductible for the affordable premiums, or …
  • … it has inadequate coverage for the conditions, while the premiums make it impossible to get treatment on their own.
  • Reimbursement rates and narrowed provider choices make it difficult to get treatment.

I’d say the third and fifth in the list are the big reasons for people who already have private insurance are putting off care. Search through the Obamacare archives here and you’ll find reports of sky-high deductibles that make the “affordable” premiums laughable, and newly-limited networks forcing people to pay through the nose if they want to get treatment that used to be covered, or to see the doctor they preferred (1), who now isn’t in their network. (If they’ll take your insurance at all.)

This is another example of why, assuming they can come up with a workable replacement, the Republicans will be able to repeal Obamacare in 2017, unlike other entitlements: it has become a giant pain in the tuchus for millions of people (most of whom never wanted it anyway), and they will demand that the Republican congress and new Republican (I hope) president make that pain go away.

Footnote:
(1) Per the President’s promise, repeated ad nauseam over the course of several years. People remember that, just as they remember the senators who helped sell them that bill of goods. Just ask the (former) Democrat senators who had to run for reelection in the last midterms.


#Ferguson: How about justice for these victims?

November 25, 2014

Somebody want to explain to me what Natalie DuBose did to deserve having her hopes and dreams burned to the ground?

Per PJMedia:

One of those businesses was a cake store, Cakes and More, owned by Natalie DuBose. DuBose sold cakes at flea markets while she saved up to open up her own store so she could feed her kids and succeed.

She did succeed, only to have the rioters destroy her business among the nearly three dozen businesses that were looted or burned or both.

Another that I heard about was a Little Caesar’s pizza place. Mostly likely a franchise operation. In other words, a small businessman or businesswoman. Now it’s gone, burned to the ground, along with the jobs it provided. Vandals and thieves laying to waste what took years to build. This is “justice?”

Will any of the race-panderers in the Congressional Black Caucus call for justice for Natalie DuBose and the other small business people harmed last night by the rioters?

No, I’m not holding my breath.

PS: An update on Ms. DuBose. She show far more generosity of spirit than I’d likely be able to manage.


The Overwhelming Case against Capital Gains Taxation

November 2, 2014

Phineas Fahrquar:

How we shoot ourselves in the foot through the punitive taxation of capital gains. In the end, it hurts working people.

Originally posted on International Liberty:

According to the bean counters at Ernst and Young, the United States has one of the highest capital gains tax rates in the world.

But if you don’t trust the numbers from a big accounting firm, then you can peruse a study from the pro-tax Organization for Economic Cooperation and Development that reaches the same conclusion.

But does this really matter? Is the United States harmed by having a high tax rate?

The Wall Street Journal certainly makes a compelling case that high tax rates on capital gains are self-destructive.

And this remarkable chart shows that workers are victimized when there is less investment.

Let’s add to all this evidence.

Jason Clemens, Charles Lammam, and Matthew Lo have produced a thorough study for the Fraser Institute about the economic impact of capital gains taxation.

A capital gain (or loss) generally refers to the price of an asset when it is…

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Canada Shows How to Eliminate the Tax Bias against Saving

October 24, 2014

Phineas Fahrquar:

This will drive lefties who like to point to Canada’s health system as a model for the US crazy, but they’re much more free market-oriented than we are these days in other areas, and they treat savings in a more intelligent fashion. There are some very good ideas in here we should emulate, as well as looking at the Australian and Chilean national pension models as a replacement for the failing Social Security.

Originally posted on International Liberty:

Since all economic theories – even Marxism and socialism – recognize that capital formation is a key to long-run growth, higher wages, and improved living standards, it obviously doesn’t make sense to penalize saving and investment.

Yet that’s exactly what happens because of double taxation in the United States, as can be seen by this rather sobering flowchart.

So how can we fix the problem? The best answer, particularly in the long run, is to shrink the burden of government spending so that there’s no pressure for punitive tax policies.

Good reform is also possible in the medium run. Policy makers could implement a big bang version of tax reform, replacing the corrupt internal revenue code with a simple and fair flat tax. That automatically would eliminate the tax bias against saving and investment since one of the key principles of the flat tax is that income…

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Nation’s Leader Rejects Keynesian Economics, Acknowledges that Real Jobs Are Created by the Private Sector

October 3, 2014

Phineas Fahrquar:

It’s Finland, sadly, not the US. We can only hope that, in the next administration, the idea of capitalism will catch on… in the USA. :/

Originally posted on International Liberty:

You’re probably surprised by the title of this post. You may even be wondering if President Obama had an epiphany on the roadto Greece?

I don’t mean to burst your bubble, but the leader we’re talking about isn’t the President of the United States.

Instead, we’re talking about the Prime Minister of Finland and he deserves praise and recognition for providing one of the most insightful and profound statements ever uttered by a politician.

He explained that the emperor of Keynesian economics has no clothes.

As reported by Le Monde (and translated by Open Europe), here’s what Alexander Stubb said when asked whether European governments should try to “stimulate” their economies with more spending.

We need to put an end to illusions: it’s not the public sector that creates jobs. To believe that injecting billions of euros [into the economy] is the key to growth is an idea…

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In the 50-Year War on Poverty, Bureaucrats Have Won while Both Taxpayers and Poor People Have Lost

September 21, 2014

Phineas Fahrquar:

We fought the War on Poverty, and poverty and its allies in the bureaucracy won.

Originally posted on International Liberty:

We know the welfare state is good news for people inside government. Lots of bureaucrats are required, after all, to oversee a plethora of redistribution programs.

Walter Williams refers to these paper pushers as poverty pimps, and there’s even a ranking showing which states have the greatest number of these folks who profit by creating dependency.

But does anybody else benefit from welfare programs?

Robert Rector of the Heritage Foundation explains in the Washington Times that the War on Poverty certainly hasn’t been a success for taxpayers or poor people. Instead, it’s created a costly web of dependency.

This year marks the 50th anniversary of President Lyndon Johnson’s launch of the War on Poverty. …Since then, the taxpayers have spent $22 trillion on Johnson’s war. Adjusted for inflation, that’s three times the cost of all military wars since the American Revolution. Last year, government spent $943…

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Statist Policy and the Great Depression

September 18, 2014

Phineas Fahrquar:

A useful corrective to the liberal myth-making that surrounds the Great Depression

Originally posted on International Liberty:

It’s difficult to promote good economic policy when some policy makers have a deeply flawed grasp of history.

This is why I’ve tried to educate people, for instance, that government intervention bears the blame for the 2008 financial crisis, not capitalism or deregulation.

Going back in time, I’ve also explained the truth about “sweatshops” and “robber barons.”

But one of the biggest challenges is correcting the mythology that capitalism caused the Great Depression and that government pulled the economy out of its tailspin.

To help correct the record, I’ve shared a superb video from the Center for Freedom and Prosperity that discusses the failed statist policies of both Hoover and Roosevelt.

Now, to augment that analysis, we have a video from Learn Liberty. Narrated by Professor Stephen Davies, it punctures several of the myths about government policy in the 1930s.

Professors Davies is right on the…

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