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The Power To Tax Is the Power To Destroy

- Peter Schiff - Euro Pacific Capital

This has to be the least well thought out article ever penned by Mr. Shiff. He gives us his opinion backed up by nothing other than yet more of his opinions. He begins with, "The Supreme Court decision is devastating for the economy and individual liberty." And his substantiation for this is "It will destroy jobs, impoverish millions, and lead to much higher inflation and lower living standards."
How having health insurance will devestate the economy and individual liberty is never stated. And really, what personal liberty is being destroyed? If it is the freedom to not live in fear that a medical emergency will lead to bankruptcy, then i agree. But if it is the freedom not to buy health insurance, then i can only wonder why he has not been railing against the injustice of having to purchase car insurance.
As for the jobs that will be destroyed, i can only imagine that he is referring to morticians, for fewer people will die needlessly. Will people be impoverished by this or will this keep people from becoming impoverished is a question that is not answered, but i suspect that fewer folks will lose everything they have as a result. As for this causing inflation, Mr. Shiff knows better, having told us before that inflation is a monetary matter. But if we take Mr. Shiff to mean that the cost of coverage will increase, all we need do is realize that by being able to form coverage pools, the cost for individuals will actually decrease as the risk to the insurer is spread out.

Commented 4462 days ago

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Beginning of the headline : The Supreme Court decision is devastating for the economy and individual liberty.Apart from creating an all powerful federal government, changing substantially what it means to be an American, the law will send health care costs soaring, further undermining our economy.It will destroy jobs, impoverish millions, and lead to much higher inflation and lower living standards... Read More

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