I told Brandon on Monday how ironic it is that many of my friends, the more liberal ones, feel so strongly that this new health care bill does something to stick it to the health insurance industry. No longer can an insurance company turn down an applicant because the applicant has a pre-existing condition. Now, insurance companies must accept everyone, regardless of their health. So why would these same insurance companies be supportive of ObamaCare?
Well, here’s why. Because suddenly, for the first time in our nation’s history, the federal government has mandated the citizenry to buy a particular product. This health care bill is no different than the massive subsidies provided by the federal government to commercial corn farmers through the Farm Bill. In essence, the federal government gave the American people the middle finger. For the next forever, the federal government will be conscripting our labor by way of higher backdoor taxes into supporting an already corrupt industry.
Yeah, that totally sounds like sticking it to the man.
Here’s a great take I read in today’s Wall Street Journal. My favorite line: For insurers, the check is in the mail: So watered down is the individual mandate that it must accelerate the industry’s death spiral if not for the massive subsidies the government now has obliged itself to provide to keep the industry afloat and allow insurers to continue scalping their 15% off the top for serving as gatekeeper to a tax loophole. Read it.