The Supreme Court announced on Thursday that, for the most part, they were siding with the healthcare law commonly referred to as Obamacare.
However, in an interesting twist they only agreed because Congress has the ability to create taxes, and to the Court, clearly the mandate was a tax increase. Anything that you have to pay if you don’t pay something else in, at its core, a tax.
Of course Democrats in Congress never wanted to call it that because it never would have passed. Now that the Supreme Court has upheld the law as constitutional it will be one of the largest tax increases in American history.
But that’s why we have a democracy: the branches of government that balance each other out.
Most of us are better served in watching our own finances that worrying about the Supreme Court. Here are some articles to help you do that:
The Simple Dollar | How Much Are Family-Friendly Benefits Worth?
Financial Highway | What the Past Can Teach Us About Saving Money in the Present
Bible Money Matters | How To Avoid Flight Cancellation And Change Fees And Get A Refund For Your Air Travel
Krant Cents | The 3 X’s of Success
Five Cent Nickel | How Much Does She Spend? Why Comparing Yourself to Others Is a Mistake
Moolanomy | Cut Recurring Expenses to Save Over and Over Again
Smart Military Money | A Word of Warning About Campus Debit Cards
Wise Bread | 5 Tactics for Relieving Work-Related Stress
CNN Money | Can you trust your financial adviser?
Frugal Portland | Six ways to save on groceries
Consumerism Commentary | Summer Internship: Career Opportunity or Cheap Labor?
Boomer and Echo | Do Stock Market Cycles Influence Your Investing Behaviour?
Get Rich Slowly | Finding Balance in an Imbalanced World
Free From Broke was featured in the following carnivals this week:
Festival of Frugality #342: Wimbledon Edition | Help Me To Save
Personal Finance Success – Motiviation to have personal finance success
The Yakezie Carnival – Summer Vacation Edition | One Cent At A Time
Articles this Week from Personal Finance Blogs | Personal Investment Management and Financial Planning
I guess if you don’t like the decision to uphold Obama Care you can always move to Canada, right?
Thanks for the mention!
Thanks for the links, I really appreciate it.
I heard that when a company has 50 employees that Obamacare requirements kick in. The talk is that companies will not hire over 50 people because of this rule. It’s because they do not have the revenue to fund the Obamacare requirements.
They could just start a new company and get around this rule.
It was a bit funny watching some of the Sunday political shows this weekend as some of the Democrats tied themselves in knots trying to deny that Obamacare was a new tax and one of the largest tax increases ever – when it was only upheld under Congress power to tax by the Supreme Court. Oh well, I guess they realize that having it be called a tax isn’t good for their political fortunes.
@Dave I actually know of a couple of companies that have stopped hiring because of the 50 employee rule. I also know of a a couple of others, my own included, that have already stated that we should be aware that they may be dropping insurance and paying the penalty instead because it makes more financial sense for the struggling business. So much for keeping our own insurance and providers. *sigh.
Thanks for the weekend reading!
I personally don’t think this healthcare reform is unconstitutional. Every other civilized country has some sort of mandatory health insurance plan, it was about time that US healthcare followed suit. just my 2 cents.