President Obama did pretty well with young voters. Wait until they find out what’s in store for them when it comes to Obamacare. It will make the recent increase in payroll taxes look like chump change.
In short, the success of the ACA wholly depends on President Obama’s ability to persuade young people to voluntarily subsidize the old. If young people don’t agree to sign up for expensive plans full of benefits many of them don’t need, the oldsters won’t be able to afford the high cost of their plans.
This is exactly why we’ve been worried about the ACA from the beginning: It is founded on a huge generational transfer from young to middle-aged. This is an especially bad deal for younger generations, not least because the rapidly growing costs of health care (which the ACA doesn’t do enough to control) pretty much guarantee that they won’t be able to have the same kind of benefits as today’s middle aged by the time they reach their 50s.
The Democratic plan to make Obamacare work apparently boils down to a hope that the President can successfully abuse the trust that young people have placed in him by convincing them sign them up in large numbers for a bad deal.
Read the whole thing. Technically it’s voluntary, but there are fines. How long will it be until they increase the amount of the fines as more and more people forego coverage to save money?
But, it’s only fair. Right? Why should these kids get to enjoy their youth and good health when so many of their fellow Americans are getting old and sick? In this brave new world of ours we must spread the misery around.