Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

TrumpCare: Same Song Different Tune, Republicans Off Key

  by    0   0

In his latest podcast, Peter Schiff explains how the Republicans’ newly unveiled repeal and replace plan for Obamacare will have many of the same failures as its predecessor. Having adopted the new moniker, “TrumpCare”, many mainstream Republicans are seeing the bill as an improvement over the Affordable Care Act. However, Peter sees it a little differently.

The fact that the government is still in the healthcare business at all is the main problem; repeal with no replacement was the Republican war cry during Obama’s administration. However, now such principled opposition doesn’t seem to exist. With a Republican president and majorities in both houses, Republicans now seem to be the proverbial “dog that caught the car.”

Here are some of the removals, remainders, and additions.

Repeals

Taxes

  • Gone is Obama’s 3.9% tax increase on dividends and capital gains. Some Dems like Nancy Pelosi are likening the tax cut to theft or, as the Representative states, the “biggest transfer of wealth from low- and middle-income people to wealthy people.” However, tax cuts seem less like thievery and more like returning someone’s stolen property back to them.

Uninsured Penalty

  • Also removed is the individual mandate to buy health insurance or pay a penalty. Many have already opted for paying the penalty because it was cheaper than buying insurance in the first place.

Keeping

Pre-existing conditions

  • Republicans may have committed the biggest blunder yet by choosing to force insurance companies to issue health insurance policies to seriously ill individuals. Peter believes the insurance industry can’t “survive the Republican replacement,” because companies that lack the ability to charge more for already sick people won’t have anyone paying premiums until they need them—the opposite intention of insurance.

Adding

Tax Credit

  • Republicans have included what amounts to the same welfare payments as Obamacare. They’re just now calling it a “tax credit”. Instead of direct subsidies to enrollees, they now will receive a tax credit to buy health insurance. The plan is based on age and family size. The idea is to give consumers more choices in coverage, yet to still provide financial support. While it may incentivize Americans to shop for cheaper policies, the fact is most young, healthy people won’t choose to buy health insurance until they need it.

As Peter points out, the real prescription here is for complete removal of this bloated entitlement, not a different version of the same sad song.

 

Get Peter Schiff’s latest gold market analysis – click here for a free subscription to his exclusive monthly Gold Videocast.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

[Total: 0    Average: 0/5]

Related Posts

War on Cash Hits a Snag in Europe

The war on cash may have hit a snag in Europe. A lot of people apparently don’t want to play along. [Total: 5    Average: 4/5] Related

READ MORE →

Gold and Silver Shine in the Midst of Commodity Slump

Banks active in commodities have been hammered so far in 2017. According to reporting in the Financial Times, income from commodity trading and related activities at Goldman Sachs, Citigroup, JPMorgan and nine other investment banks dropped 40% in Q1 2017, and the struggles have continued into the second quarter. Weakness in the energy sector generally, […]

READ MORE →

Technology that Glitters in Gold: Solar Energy, Bioprinting and Tractor Beams

Researchers continue to come up with amazing new technologies utilizing gold. We generally think of gold as an investment as well as money, but it is increasingly being used in high-tech applications. Gold’s conductivity and malleability make it suitable for a number of futuristic applications, from energy production to healthcare. Researchers are even using the metal in […]

READ MORE →

We’re Selling Life Jackets to the Titanic; Why Wouldn’t You Buy One?

Gold can literally mean the difference between life and death. Now, that may sound like a bit of hyperbole. And in most cases, it would be. But during World War II, a tiny bit of gold became the salvation of a dying soldier. [Total: 12    Average: 4.3/5] Related

READ MORE →

Healthcare Plan Collapse Rekindles Doubts About Trump Economic Agenda

The dollar plunged after Republicans in Congress abandoned their plan to overhaul Obamacare this week. The plan to “repeal and replace” the Affordable Care Act collapsed after Senators Mike Lee and Jerry Moran joined fellow Republicans Susan Collins and Rand Paul opposing it. In fact, “repeal and replace” was a misnomer. The Republican plan kept many […]

READ MORE →

Comments are closed.

close

Enjoy this blog? Please spread the word :)

Free Newsletter & Notification of Special Deals
RSS Feed
YouTube Channel
YouTube Channel
Google+
Google+
https://schiffgold.com/key-gold-news/trumpcare-song-different-tune-republicans-off-key
Call Now