Also in this playlist...
This transcript is automatically generated
Well -- Obama -- dominoes falling the latest the administration is making it easier to qualify for government aid through obamacare.
People don't have to prove in come to qualify.
Kind of like those liar loans in the housing market and help blow up the economy five years ago.
And all of this coming on top of two other big changes as well here to weigh in open court Manhattan institute senior -- -- -- -- always good to have you on the set here.
Why -- the administration doing this and describe a little more detail the steps they're taking here.
-- of the basic problem is that.
Enforcing the law.
Making sure that people are eligible it's a huge undertakings he had to do all these things to figure out whether people have been offered affordable.
Coverage by the definition of the law because in order to put that qualify for the subsidies.
You have to not have been offered employer sponsored insurance -- your employer has sponsor offer coverage but it's unaffordable according to the government.
And your income has to be under a certain threshold so those of the three things you have to get too so it is -- logistics -- -- that is really hearts of the big governments and while we give up you will you.
I understand that we're not gonna go -- there you know I just have to tell folks out -- this news came out.
Friday July 5 late it was one of those news dumps that they do when they really don't -- -- pay attention to what they have to say.
But here's what I think it's a big problem -- make.
So you tell people we're not gonna check up on you you can apply for coverage on these exchanges get reimbursement from the federal government.
This is gonna be a huge tax -- hit because there's no checks and balances.
-- -- this 12 downs which is that if you file a tax return.
The IRS can then look at your tax return than a year later say.
Well you probably were -- reporting your income will make you you give back some of those subsidies the question is hey Willie Harris and force that.
Be that doesn't apply to people who don't file tax returns so -- if you have a lower income and you weren't supposed to qualify for the exchanges.
You because -- -- -- -- from the IRS has no way of knowing how much may or may be well your income is cash -- he if you should bloody -- capitalism a.
All kinds of ways -- ways to game it.
And I I think you know for me I look at this and it reminds me of the liars loans in housing where banks would let anybody take out alone and not really -- count and we had this huge bubble and then bus in the housing market.
It seems to me that now you're putting the onus on tax -- directly with this what could be impact.
Yes so we're supposed to be spending about a 150 billion dollars a year on these exchanges when the loss fully implemented.
Imagine that only ten an additional 10% of that as fraud let's say it's 20% than what -- 1530 billion dollars a year over ten years that's 150.
300 billion dollars.
Well I've -- even talking about the -- on private insurers and interestingly we've seen some private insurers say they are backing out of those exchanges they don't wanna be on the -- was one in California we've had others.
What is the -- in your view on insurers -- how are they gonna take this news.
-- so when the Obama administration delayed the employer mandate that's a huge thing because if that employer mandate that eventually gets gets delayed forever becomes when -- zombie provisions in the law that never gets enforced.
What does that mean.
That means a lot of employers like restaurants they are small businesses we'll have a lot of incentive and you talked about the -- on a show instead of having part time workers.
They can hire people full time it's that we're not proper -- -- to -- to get coverage on the exchange so -- a lot more people will buy insurance.
For themselves which is actually in theory a good thing because we want people to buy insurance for themselves rather get a from employer it's more efficient.
Hey I don't look here's a problem with obamacare in my -- with its -- canceling.
A system that worked for about forty years after World War II.
That companies -- as part of their package into attract workers would offer health insurance how much of that cost the federal government.
Government not a lot there were tax benefits but that's really about it.
Now this is all going on the taxpayer -- that's what I object to.
Well that that to -- -- -- that that the government is losing -- the taxpayers are saving depending on your point of view for the employer sponsored system.
300 billion dollars a year so it's it's kind of -- but why don't I don't you think that obamacare is going to be far more expensive -- the -- yes and then that what we get an -- tax breaks to companies to offer health -- picture this is the problems so.
We want people if you ask any conservative health -- they'll all tell you.
We should buy insurance for ourselves if we want to because -- that -- it's portable you can take it from job job you can own insurance when you start your own company.
There are a lot of thinks he can't do if you're -- -- your employer's plan it's one of those things that sounds theoretically it really good.
But when he gets down to actually executing it doesn't seem to be working well well this is -- problem obamacare does so much damage to the individual insurance market.
That it becomes less attractive so we should just what we have today where you can buy insurance today on -- -- obamacare do it the promise obamacare now puts its regulatory framework on top.
Of the individual markets is that these plants are so expensive we talked about the -- -- show.
And that's going to be problems that because these funds are not going to be so expensive and not going to be as attractive so now it's a -- bit of -- A -- system it's and that.
It's and that's -- I'm beginning to think that obamacare will never truly be put into place because we have so many delays in so many problems we'll never be put into place the way it was described in 2000 -- 2010.
But it will be put in the place he will spend enormous amount of taxpayer dollars.
And I think it'll be really hard on line I think a lot of people out there think what's this gonna collapse on itself and vaporize will businesses -- -- -- failed government programs I don't if Verizon they.
That's a really good point and just quickly.
Thousands of dollars that individuals could get through this program.
If they're not checked up -- 9500 dollars example of a premium tax credit as some of these people get a family of four.
It's amazing the money at stake okay thanks for coming in tonight appreciate your time -- great to have violence that I was under.
Filter by section