It's taken a long time since it was signed into law in 2010, but the Affordable Care Act, commonly known as "Obamacare," will finally see its major provisions implemented in 2014. My expectation is that the act will have a negative impact on the US economy. The ACA will not only lead to higher direct taxes; but could also create very large stealth taxes, as younger, healthier consumers are forced to absorb much higher costs.
You can already see this happening by observing skyrocketing insurance premiums across the nation. A recent example comes from Maryland where CareFirst BlueCross BlueShield has announced that premiums will rise, on average, by about 25 percent next year. These de facto...
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