According to the non-partisan Congressional Budget Office, Obamacare, when fully implemented, will cost the equivalent of 2.3 million jobs. Not so much from businesses cutting back hiring but because people will not want to work so much.
Older people will no longer feel they need to keep working until they can get on Medicare, so they can retire early. Middle class people will work less so as to purposefully earn less–that way, they can qualify for a subsidy. Rich people will also work less to earn less so that, given the increased tax rates to pay for Obamacare, they won’t have to pay so much in taxes.
This is the benefit of making everyone dependent on a government program: The economic disincentives built into the welfare system will now apply to everybody! [Read more...]