Repeal of section 1031 like-kind exchanges would hurt small businesses, investment & economic growth https://t.co/UsuNj6VkhC
The Song Remains the Same; Technical Issues Continue to Plague Obamacare
Since the disastrous rollout of Obamacare last November, President Obama would like the American people to think that “the thing (Obamacare) is working…it’s well past time to move on as a country and focus our energy on the issues that people are most concerned about.” Unfortunately Mr. President, it is now May, and the excessive amount of glitchesstill facing Obamacare should be what the American people areconcernedabout.
According to the Washington Post, Obamacare’s most recent technological miscue involves over one million Americans receiving incorrect subsidies; money intended to help consumer purchase health care on the exchanges.
“The law’s subsidies are doled out based onannual income, and people who apply for coverage are responsible for submitting income data in order to prove eligibility for the subsidies. The problem is that a million or so people have entered incomes that differ substantially from what the Internal Revenue Service has on file,” wrote Peter Suderman of Reason.com
How is it possible for more than one million Americans receiving unwarranted subsidies? Quite simply, aprocess to ensure the subsidies were properly distributed was never put in place.
In February, ATR reported that HealthCare.Gov left 22,000 site error appeals untouched because the website was launched without a functioning appeals process in place. Out of the eight million who "signed up" (or at least browsed and selected a plan)for Obamacare, roughly 5.5 million are in the federal insurance exchange of which 3 million have an application with at least one inconsistency.
The Obama Administration’s misguided spending is something the American people have become all too familiar with. According to the Mercatus Center, improper federal payments amounted toover $100 billion in 2012, and the financial debacle Obamacare has become is just another example of the government’s inability – or more accurately, unwillingness - to make sound financial decisions with taxpayer’s money.