George Rebane

The von Mises Institute is a leading source of Austrian school perspectives on economics and public policy, and an oft quoted source on RR.  It just published ‘Obamacare is a Devastating Tax on the Working Class’ which should give even the diehard progressive pause on some of the most regressive effects of this foray into socialized medicine.  It will hit hardest those workers who are at the margin, and those seeking to gain the first step on the economic ladder.  The arguments are clear and accessible.  The gargantuan cost of this misguided piece of social engineering will be of historic proportions; our kids and grandchildren may yet piss on our graves.

Given the recent announcement that the government’s measure of unemployment has hit 10.2 percent, and given that the official House version of Obama’s healthcare plan, HR 3962, has now passed, a close examination of the effects of “Obamacare” on the labor market is important. It will be no surprise to readers of this site to learn that the Democrats’ bill will seriously harm precisely those poor and uninsured citizens it is ostensibly designed to help. The harm will come by compounding mass unemployment and depriving these citizens of consumption choices.

The article is not long and definitely worth a read, especially if you voted for Obama.  Hat tip to a RR reader for the heads up on this piece.  [update] And more thanks to another RR reader for sending the following addition.