Affordable Care Act Will Eliminate Insureds and Taxpayers Paying for Health Care Freeloaders
Many Americans, however, feel that increased government involvement in anything is the first step on the “Road to Serfdom,” as conservative economist Frederich Hayek postulated in the 1940s, and therefore, they oppose such government involvement. FORTUNATELY, THE SUPREME COURT DID NOT SUPPORT THIS CONSERVATIVE POSITION IN DECLARING THE PATIENT PROTECTION AND AFFORDABLE CARE ACT CONSTITUTIONAL TODAY.
The Court's decision is a big step toward our avoiding a government-run, single payer of benefits plan as much of the western industrialized world utilizes. Conservatives should therefore support it. But they won't. Unfortunately, they will continue to oppose it, but probably will do so because it amounts to a new tax (on those who choose not to be insured) and to those on the right, any new tax and anything the President supports, is anathema. If the Affordable Care Act does not succeed in the long run, despite its being declared to be constitutional, the nation may yet have to consider a single-payer system, as is in effect in Canada and most of Europe.
First, the mortgage holder, the bank or whomever the bank passed the mortgage on to, should be responsible for one half of the amount owed over and above the value of the property. They will have to “eat this amount,” writing if off and treating it as a tax-deductible loss on their books. The other half of the amount owed over and above the value of the property should be paid to the bank by the Federal Government. The mortgage would then be rolled over into a conventional thirty year mortgage for the value of the property. If at any time, the property were sold for a greater value than its value at the time of the new mortgage’s inception, that excess money would be split between the bank and the Federal Government. The amount of mortgage balance forgiveness to the property owner would not be considered income to them for tax purposes. If a mortgagor is not able to afford the payments under the new mortgage, the bank would foreclose on the property and sell it to the Federal Government, and the mortgagor would then have the option of remaining in the home as a rent-paying tenant. Ultimately, the Government would sell off such rental properties to independent private landlords.
Would it work?
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