Washington Examiner's Barone: Obamacare Redistributes Wealth

Monday, 25 Nov 2013 04:47 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Affordable Care Act has the young subsidizing the old, says Michael Barone, senior political analyst at The Washington Examiner.

"Obamacare redistributes income from the young, people who have negative net worth," Barone told "The Steve Malzberg Show" on Newsmax TV.

"They don't have more in the bank . . . than they do in debt, credit card debt, higher education debt, and so forth," he said Monday.

Story continues below video.



"They've got negative net worth, and it transfers it to people who are age 55 to 64, [whose] average net worth . . . is $884,000."

Barone, author of "Shaping Our Nation: How Surges of Migration Transformed America and Its Politics," said insurance should protect against "unusual, unlikely, and unwelcome" events.

"You don't insure your automobile for oil changes. You insure your automobile in case it gets totaled," Barone said.

See "The Steve Malzberg Show" on Newsmax TV each weekday live by clicking here now.



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Alveda King: Combat Poverty With Conservative Policies, Jobs

Wednesday, 22 Oct 2014 17:20 PM

The war on poverty will be won with jobs, not government assistance, says the niece of the Rev. Martin Luther King Jr. A . . .

Ex-FBI Agent: Government Struggles to Keep Up With Technology

Wednesday, 22 Oct 2014 16:52 PM

It is becoming a growing concern that the government is struggling to keep up with advancing technology that could keep  . . .

Alex Pappas on Ottawa Shootings: 'Bad Things Are Happening'

Wednesday, 22 Oct 2014 16:16 PM

The horrific shootings in Ottawa underscore the fact that the world is a scary and dangerous place, says Alex Pappas, a  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved