Supreme Court rules- INDIVIDUAL MANDATE IS LEGAL, AND IS A TAX

[tsptalk]

High court upholds key part of Obama health law

Ruling released:

Affordable Care Act survives intact, as Roberts joins the liberals in calling the act fully legal.

High court upholds key part of Obama health law

News from The Associated Press

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This is like deja vu all over again. Just a reminder, let's not get all politically partisan over this - it never ends well.

I'm more interested in discussing how this might affect the stock market.

Negative rep will be given for any less than civil posts.

Thanks

(Sorry James. I bumped this post up above yours to get that message to the top of the thread.)

 

[James48843]

Ruling released:

Affordable Care Act survives intact, as Roberts joins the liberals in calling the act fully legal.

 

[MaStA]

To be honest I haven't really followed what this act does, etc. I need to find me a cliff notes version of this thing...

I was just listening to the news and I guess the court stated that it isn't against the law to pay the fine if you don't buy healthcare...so how is this a mandate at all then? I believe I heard they are making insurance companies not charge differences based on age, gender, etc. as well. I'm assuming there is more to it than this.

 

[Warrenlm]

It's a tax. No, it's not a tax. It's a tax.

 

[MaStA]

It's a tax. No, it's not a tax. It's a tax.

I've heard so many rumors about what it is that I don't know what to believe. I've heard we all were going to have to pay taxes so everyone in the USA would have healthcare like Canada. I've heard that it will simply be required for everyone to have insurance one way or another otherwise they would have to pay a fee. It sounds like now that regardless of whether you have insurance or not, you don't have to buy it unless you want to and you will not be required to pay a fee if you don't.

 

[Warrenlm]

Reference is to the fine collectable by the IRS if one does not buy insurance from some private entity.....or eventually from the government after the deals with big insurance and big pharms end. I heard the fine did not provide insurance just a penalty for nonperformance. or rebellion.

But it's not a penalty. It's a tax. Anyway, be comfortable the government will continue to take of us. We just need to be ready to obey K Street. Boy, did the future earnings of the committee staffers and K Street lobbyists and civil servants writing regs just skyrocket. wow.

 

[Warrenlm]

Re: High court upholds key part of Obama health law

http://www.tsptalk.com/mb/top-stori...-individual-mandate-legal-tax.html#post366887

BreathlessJames beat everyone as usual.

 

[tsptalk]

Re: High court upholds key part of Obama health law

This is like deja vu all over again. Just a reminder, let's not get all politically partisan over this - it never ends well.

I'm more interested in discussing how this might affect the stock market.

Negative rep will be given for any less than civil posts.

Thanks

 

[MaStA]

Problem is that the white house did not do a good enough job of letting us the people know what the hell they were trying to implement before they implemented it. Too much gibberish I find out on the internet about it. I don't even know where to look for something that is in terms a normal person can understand lol.

Obviously the stock market isn't very happen with the decision.

 

[tsptalk]

Re: High court upholds key part of Obama health law

From what I am hearing, the ruling may give individual states a way out. That would be interesting since 26 state are already fighting the law.

It sounds like it could get sticky with more questions than answers on how that would work.

 

[nnuut]

Re: High court upholds key part of Obama health law

From what I am hearing, the ruling may give individual states a way out. That would be interesting since 26 state are already fighting the law.

It sounds like it could get sticky with more questions than answers on how that would work.

Which means that States can opt out without the government cutting states Medicare funding. Which can turn around the whole thing.

 

[MrJohnRoss]

Re: High court upholds key part of Obama health law

High court upholds key part of Obama health law

News from The Associated Press

****
This is like deja vu all over again. Just a reminder, let's not get all politically partisan over this - it never ends well.

I'm more interested in discussing how this might affect the stock market.

Negative rep will be given for any less than civil posts.

Thanks

I was wondering when someone would start commenting.

My opinion: Today we have less freedom and more "taxes" than yesterday. Thank you [Obama].

 

[tsptalk]

Re: High court upholds key part of Obama health law

Which means that States can opt out without the government cutting states Medicare funding. Which can turn around the whole thing.

Is it Medicare or Medicaid funding that's in question?

 

[Warrenlm]

Re: High court upholds key part of Obama health law

Jim Cramer says the market will see this as a negative because of its effect on small business and adverse impact on employment. Keep in mind any state action will require political will. That was in short supply when one year free money was offered for unemployment extensions and other central programs.

 

[nnuut]

Re: High court upholds key part of Obama health law

The plan is to put us all in $$$$$$$$$$SUPER MEDICARE$$$$$$$$$, that should cut costs. It has been called the largest tax increase in history.

 

[James48843]

Re: High court upholds key part of Obama health law

I just read the complete opinion. The part which was upheld was the individual mandate. the part which was overturned, was the section which allowed the federal government to completely turn off all medicaid dollars, if the state chose to not extend medicaid to the 133% of the poverty level. That was a whole new extension of MEDI-CAID coverage. As it stands, the law still requires states to extend to 133% of the poverty level, but it removes the hammer of the feds being able to take ALL medicaid funding away if the states don't do that.

So, in short- yes, the individual mandate is required. Roberts sides with the progressive 4 to call the imposition of a tax fully legal.

Yes, the states are still supposed to extend mediCAID to all people, who earn UP TO 133% of poverty level.

but no, the hammer is no longer there to punish states if they fail to extend mediCAID to the 133% level of poverty.

By the way- the law says the federal government will reimburse the states for the additonal expense of expanding medicaid to 133%, so, at least in the beginning, the states have little reason NOT too.

Here is the opinion. It takes about ten-fifteen minutes to read the whole thing:

http://www.supremecourt.gov/opinions/11pdf/11-393c3a2.pdf

 

[Viva_La_Migra]

Re: High court upholds key part of Obama health law

I think, for the moment, insurance companies and "Big Pharma" stocks are going to go up. Sooner or later, reality will set in and health insurance companies will go bankrupt, allowing the government to completely take over healthcare. The futuristic world of Logan's Run is well on it's way to reality. I wonder if the death panel will allow me to choose the pain pill they'll give me rather than the medical treatment I'll need.

I wish there was a land of freedom and opportunity I could move to. The United States of America is in it's death throes and will soon cease to exist.

 

[kam]

Re: High court upholds key part of Obama health law

Jim Cramer says the market will see this as a negative because of its effect on small business and adverse impact on employment. Keep in mind any state action will require political will. That was in short supply when one year free money was offered for unemployment extensions and other central programs.

Atleast one sector likes it:
Hospital stocks sharply higher after health care ruling
​Hospital stocks sharply higher after health care ruling - The Washington Post

 

[Warrenlm]

Re: High court upholds key part of Obama health law

Health care industry rep saying on CNBC that this will bring about $2T more into the industry than was coming before. Good for the industry growth. Girth? Did anyone check with the lenders on this? I wonder where that $2T comes from? Infrastructure?

Mental math....40 bridges/$1B, 1000 $1B/$T, so 80,000 bridges to forego.....good thing we have lots of Nowheres.

 

[Warrenlm]

Re: High court upholds key part of Obama health law

I wonder if the death panel will allow me to choose the pain pill they'll give me rather than the medical treatment I'll need.

I wish there was a land of freedom and opportunity I could move to. The United States of America is in it's death throes and will soon cease to exist.

Careful with those negative thoughts. They aren't covered.