by Mike ‘Mish’ Shedlock
Mish Talk
Reader WC Varones emailed an article he wrote on Obamacare and the Disincentive to Work.
At the heart of the matter is a redistribution scheme that punishes the middle class the most, and the wealthy the least, for the benefit of the poor.
As awful as Obamacare has been at its purported goal of making health care affordable, it has been unquestionably successful at one of Obama’s other primary goals: the redistribution of wealth. Unfortunately, the poor design of the redistribution function is one of the reasons Obamacare is failing.
As the Economist points out in “Healthy Dose of Redistribution“, Obamacare imposes new taxes and costs on the middle class to fund subsidies for low-income earners. Low-income people get Obamacare for almost free, while middle class families are required to pay full freight for the most expensive government health care plan in the world by far.