A government debt is a government claim against personal income and private property – an unpaid tax bill. —Hans F. Sennholz
ObamaCare: An Ever Increasing Tax on Young Americans
Through his bureaucracy, President Obama has manipulated, extended and waived many parts of the ObamaCare law. Charles Blahous, of e21, reports these manipulations are adding to a colossal, fiscal disaster that will hurt taxpayers for decades:
“…, what is unfolding before our eyes is a colossal fiscal disaster, poised to haunt legislators and taxpayers for decades to come.”
Young Americans, wake-up! ObamaCare is piling up debt. Debt is an unpaid tax bill. Young Americans will be paying for ObamaCare, plus the ongoing manipulations of ObamaCare for decades. These eliminations and extensions are, in reality, additional taxes – by stealth:
The elimination of the CLASS from ObamaCare: CLASS – long-term care provisions – was always a budgetary gimmick that was projected to bring in $86 billion over ten years -gone forever.
Employer/individual mandate penalties were to produce tax revenue of $101 billion over 10 years. They have repeatedly delayed and thus the tax revenue is almost non-existent.
The ObamaCare law cut Medicare Advantage by $128 billion in ten years. The White House has unilaterally decided to rescind the cuts to Medicare.
Worse for young Americans; Social Security, Medicare, and Medicaid are also their burden. No money is saved for these programs and in order for the federal government to honor their promises to recipients of Social Security, Medicare and Medicaid young Americans will be forced to pay more and more taxes. Blahous, a senior research fellow for the Mercatus Center and research fellow for the Hoover Institution as well as a public trustee for Social Security and Medicare, explains:
“A Worse Fiscal Environment: The ACA (ObamaCare) was enacted when legislators knew, or should have known, that they inhabited a fiscal environment in which such extravagance was unaffordable. Deficits (and debt) are far higher today than when the other major entitlement programs were created; millions of baby boomer retirements are swelling expenditures arising from previously-enacted Social Security and Medicare law.”
Again, young Americans, our debt is an unpaid tax bill. As Nobel Laureate Milton Friedman said:
“Keep your eye on one thing and one thing only: how much government is spending, because that’s the true tax … If you’re not paying for it in the form of explicit taxes, you’re paying for it directly in the form of inflation or in the form of borrowing.”
Please, young Americans, wake up! Our federal government is spending well beyond what they are collecting in taxes. Our politicians are stealing your future. You must stop this theft. Only you – young Americans – have the self-interest and power to stop this terrible immoral taxation that is being thrust upon you by our stealth leaders.