A few bloggers have been writing recently about the bizarreness of Republican opposition to Obamacare. GOP opposition to the ACA has not been like any opposition to ANY bill I can ever remember. When one factors in the truth of the ACA......the law will insure millions more people who need health insurance, millions who currently do not have health insurance.....the GOP's loud and constant opposition these past four years just seems....crazy.
The reaction by Republicans to the ACA has always seemed surreal. After all, the template for the ACA was Romneycare, a Massachusetts state initiative which set up exchanges in much the same way that the ACA works. The for-profit insurance exchanges idea was originally the conservative Heritage Foundation's idea. Four straight years of GOP full-metal-jacket opposition to the ACA.....seen in the light of those facts.....has always seemed unexplainably nuts.
Many have floated the idea that conservatives simply oppose the ACA because the law redistributes health insurance money to the "takers" who don't deserve it. Others have argued that the seemingly crazy opposition to the ACA has always been a knee-jerk reaction to opposing everything Obama....the "hope he fails" group. A few have argued.....foolishly in my opinion.....that the ACA will bankrupt the country, turn us into Canada or the former Soviet Union, result in an epidemic of health care rationing, destroy the dollar, or eliminate doctors entirely.
However, the REAL reason for the seemingly nutty opposition to the ACA by Republicans might be found in this Daily Kos posting.
You see, up until Obamacare, the truly wealthy in our society, that passive income crowd that dodged the top tax bracket by getting their compensation in capital gains and such, was EXEMPTED from the Medicare portion of FICA.
Until the ACA, those who "earned" their millions by way of capital gains....like, say, Mitt Romney....have not been required to pay the Medicare portion of FICA. The 2.9% tax is taken from every working person's paycheck.....but not those who "earn" their income from capital gains.
That is, until now. As the Kos author writes, that is a big, big effing deal to very rich Americans who have been entitled to special treatment for such a long time.....
This tax (2.9%) went up .9% for incomes over 250k under PPACA. .9%'s not that bad, of course, but for those living on passive income, the hit is much larger.
Here's what that new tax on the rich means to guys like Romney and the Kochs....
3.8% of $20,000,000 is $760,000 dollars in taxes. That has to sting that generational wealth plan Romney was hatching.
Imagine the hit the Kochs and the hedge fund guys are taking. The 25 top hedge fund guys in 2009 averaged $1Billion each...3.8% of a billion? Get your calculators out: mine says that means about $38,000,000 in new taxes for these guys.
Obamacare includes a tax increase on rich Americans. For very, very rich Americans.....that 3.8% new tax adds up to a lot of money. Republicans, as I'm sure you remember, played with national default in 2011 and shut down the government this year rather than agree to any new tax revenues. The reason Obama and Boehner's "Grand Bargain" failed to gain momentum in the summer of 2011 was because House Republicans would not accept ANY new tax revenues.
It is the job of elected Republicans to serve the interests of our country's richest. That is why rich conservative Americans sponsor GOP political campaigns in the first place. If you find that difficult to accept, then you haven't been paying close enough attention. Sure, the conservative coalition is diverse in that it attracts religious enthusiasts, culture warriors and diversity opponents......but make no mistake, rich people fund Republican campaigns, and they do so for a reason.
So, this entire time....four years running, the over-the-top, bordering on bizarre, bug-eyed GOP opposition to the ACA......Cruz's "filibuster", 47 separate votes in the House for repeal, shutting down the government if the ACA was not repealed and the infinite number of ridiculous nonsense spouted in defiant opposition to a law which expands health insurance to millions more Americans......has really been all about trying to stop a 3.8% tax increase on a few very rich, entitled Americans.
Looking at it that way.....the Republican apeshite nutty opposition to Obamacare makes perfect sense.
About This Blog