Oh, Obamacare. Some people somehow think that this is a beneficial thing for our country. Many people think it's one of the worst ideas we've seen in years. Who is one of those people? Presidential Candidate Mitt Romney. Just like he recently said: "Obamacare was bad policy yesterday, it is bad policy today."
Governor Romney has said that, if elected as President of the United States, he will act to repeal Obamacare immediately. So why is this? Why do so many people, including the possible future President of our country, think that Obamacare is so bad? Well, let's take a look at a few of the reasons.
5 of the Scariest Facts About Obamacare:
1. Raises Taxes
Governor Romney has said that Obamacare will raise taxes on the American people by approximately $500 billion. Five hundred billion dollars! Obamacare imposes more than 20 brand new taxes on the American people. And whose pockets will those extra taxes come out of? Well, just like with most taxes, it will be us, the working middle class American, who will be forced to bear the brunt of that cost.
So, if Obamacare isn't done away with, you should expect to be paying a whole lot more money in taxes to fund this new health plan.
2. Cuts Medicare
Mitt Romney has also said that Obamacare will cut medicare by more than $500 billion. Again, that's a whole lot of money. President Obama has claimed that his signature health law will expand benefits for senior citizens. But it's actually on the contrary. Richard Foster, the chief actuary for Medicare and Security, has said that Obamacare would actually result in less generous benefit packages for our seniors.
Despite what Obama says, Obamacare takes no thought for our senior citizens.
3. Greater National Debt
Mitt Romney has also said that Obamacare would add trillions to our deficits and national debt. Trillions of dollars! That is trillions of dollars that we will owe. That is trillions of dollars that our children and grandchildren (and their children and grandchildren) will be forced to pay. With how bad our economy has become, shouldn't we be finding ways to reduce our national debt? Well, not according to Obamacare.
4. Job Killer
Governor Romney has said that Obamacare is a job killer. He explained that, when the Chamber of Commerce recently surveyed business owners, three quarters of them said that Obamacare makes it less likely for them to hire new people. Why is this? Well, Obamacare can mean increased costs on business owners. Many of these business owners, especially small business owners, will have a hard time keeping up with these new costs. So they definitely won't have the funds to hire new people!
With how horrible our unemployment rates currently are, maybe we should focus on plans that will help business owners want to/be able to give more people jobs... not the opposite.
5. Bigger Government
Obamacare will "put the federal government in the way between you and your doctor." With Obamacare, the government can get in the way of you finding the type of coverage that you want. On top of that, to really be able to implement and run everything that goes with Obamacare, new government employees will need to be hired.
Instead of letting our government take control of our health care (and hiring new employees for those purposes), why don't we let us take care of our own health care? We don't need the government to get in the way of that. And we don't need to pay the salaries of government employees to do that for us.
Nicole writes for BCRC covering DIY Financial tips.