The Supreme Court upheld President Obama's health care law today in a splintered, complex opinion that gives Obama a major election-year victory.
Basically. the justices said that the individual mandate -- the requirement that most Americans buy health insurance or pay a fine -- is constitutional as a tax.
Chief Justice John Roberts -- a conservative appointed by President George W. Bush -- provided the key vote to preserve the landmark health care law, which figures to be a major issue in Obama's re-election bid against Republican opponent Mitt Romney.
I'll be 86, and going on about how much I liked Pearl Jam before they sold out...
You'd think we'd have learned how to avert the issue, by now.
Seems to me the market reaction was predictable, however. At the base of it, the Pharma and Healthcare companies are afraid of further government presence in their industry (and who wouldn't be, given the record?) and all their propaganda to their stockholders has been how bad for their company that would be, so, when something like this happens, there would naturally be a big sell-off. Question is, is the fire sale going to be bigger than any recovery might possibly be able to manage? We all know the trend, big sell happens in one sector, that leads to sales in other sectors, pretty soon everyone's 401K is 1/4 the value it was when the day started.
That's how depressions start.
Next few days should be both interesting and historical, one way or the other.
Fun, fun, fun.
Election Day can't come fast enough.
I would be completely unshocked if for some reason we need to hold off on the election for some reason or another.
As much as I think the current occupant of the WH would like to see that happen I would be completely and totally shocked if they even mentioned it in joking. We aren't a banana republic...yet.
Yes, we have no bananas. But we have some on back-order.
There will come a time when we will look to these current times as the "good old days."
Yeah...like this afternoon.
Liam---Please...are you implying (or outright stating) that you think the plunge in stock prices for insurance companies is a result of Wall Street not wanting to help Obama? SERIOUSLY? And to what should we ascribe the uptick in hospital stock? And I'm totally baffled by your comment about high oil/gas prices. Oil and gas prices are through the roof because Obama has stymied our drilling operations, has blocked the Keystone pipeline, refuses to allow off-shore drilling, and is opposed to letting us get to our own reserves. It has nothing to do with some conspiracy to make Obama look bad---it's the result of his bad governance.
If it is a tax then expect to see it added to everyone's tax burden, not just those who don't carry insurance.
Stop being logical.
I will endeavor to do so.
Let's give the benefit of the doubt here and assume the leftists didn't intend for this to be a tax. They claimed again and again it was not a tax. Obama said nobody making under 250K would see their taxes go up. The conservatives on the other hand said it was a tax.
Why is it that one side can clearly see what is going on and call it what it really is while the other side can be dead wrong?
Can we start calling him President Vizzini?
President: is absolutely not a tax increase
STEPHANOPOULOS: But you reject that it's a tax increase?
President: I absolutely reject that notion.
Inigio Montoya: You keep using that word (tax increase). I do not think it means what you think it means.