April 27, 2012
-- Are you familiar with The Patient Protection and Affordable Care Act (PPACA)? If not, probably you will recognize this as ObamaCare law. It was passed by the congress on March 21, 2010 and was signed into federal law by President Barack Obama on the 23rd of the same month. Its main purpose was to socialize the health care of the United States. In a nutshell it’s a law in which every citizen of the country will be required to purchase a private health care insurance. Through legislative mandates, this law requires private citizens to buy a health insurance and every law offenders will face legal sanctions.
We’ll talk about it as recently, the Supreme Court has considered the legality of ObamaCare. This particular law has sparked controversy throughout the US and until now, a lot of people are still talking about its bad effect to the entire nation.Not only it had the politicians raised their eyebrows, but the regular citizens as well. While it may look like an Act which holds a good intention, many want this to be repealed. The reason is that it may have a huge impact in the lives of every American in the future. Let’s see what the experts have to say about this so that at the end, we can answer this question, does ObamaCare really care?
Months after the law was signed, Florida federal District Judge C. Roger Vinson has ruled the individual mandate as unconstitutional. He said, “Never before has Congressrequired that everyone buy a product from a private company (essentially for life) just for being alive and residing in the United States. If [the government] has the power to compel an otherwise passive individual into a transaction…
it is not hyperbolic to suggest thatCongress could do almost anything it wanted.” This line of statement was mentioned in a post made by Representative Allen West and later he affirmed that “Today, this prediction is being attempted before our very eyes.” Obviously, he was stating opposition on the said law.
Health sector isn’t the only part that’s being affected here. The business world is also expressing their discontentment on these matters and for a good reason of course. Heritage.org’
s John Ligon has mentioned this in his post. It says, “The new health care law will impose new compliance regulations, employer mandate taxes, taxes on business “flow-through”
and investment income and numerous indirect costs on small and medium sized companies. Altogether, these constraints will dramatically affect companies’ per-employee costs, firm-level allocation of labor; desire to take on health coverage, and motivation to grow both in terms of income and employment.”
If this will not be solved immediately by our politicians or whoever is responsible, this may result in a huge trouble on our economy. From there, it can also have a domino effect, economists have predicted that the law will increase the tax deficit by $75 billion per year and by the end of 2020, the nation’s publicly held debt will be $753 billion. Let’s just wait what experts will say about this. We have yet to hear what Attorney Robert Pflueger of http://orlando-bankruptcy-law.com
has say about this as it may lead to another set of job loss, breakdown and bankruptcy in the near future.