A Redistribution of Wealth Under Obamacare

James Oliphant contends that Obamacare technical glitches have revealed deeper, more structural problems: “The curtain has been yanked back to expose the ungainly reality that lies at the very heart of the program: Very simply, under the Affordable Care Act, there are winners and there are losers. And there were always going to be. That fact, even more than the star-crossed rollout, may be the more enduring political threat to Obamacare.”

“In the traditional entitlements, just about every taxpayer eventually becomes a “winner,” but under the ACA that may never happen. In that way, the law is more of a direct wealth transfer.”

Politically, the Obama administration can’t admit that the only way for the program to be successful is “that there would need to be a transfer of wealth—from the young to the old, from men to women, from the healthy to the sick. That to raise the floor, you had to lower the ceiling.”

Oliphant warns: “The simple truth is that the Affordable Care Act is, from a certain point of view, either a finely tuned machine whose parts have to work in an almost orchestral fashion for it to produce the wellspring of results that have been promised, or an infernal, jury-rigged contraption that could collapse from the smallest series of stresses.”

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