Study Proves Obamacare Is Sucking Up 10% of Americans’ Incomes

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The latest dilemma facing economists is why “unequivocally good” low oil prices haven’t sparked excuberant consumer spending across America. We have discussed the simple (though awkward for the establishment) answer many times – soaring costs for ‘shelter’ and healthcare have hoovered up every penny saved (and more); and now, a new study proves it – exposing the reality that many Obamacare customers pay more than 10 percent of their incomes toward coverage (and some paying considerably more).

The shocking findings show that, as CNBC summarizes, One in 10 Obamacare customers who earn between just two and five times the federal poverty level will have coverage costs that exceed 21 percent of their incomes, an analysis by the Robert Wood Johnson Foundation and the Urban Institute found.

And the median Obamacare customer who earns in that range spends more than 10 percent of their income on monthly premiums and out-of-pocket health expenses, the analysis found.

“Many who have modest incomes have high financial burdens even with average medical expenses,” the report said.  

“For those at the top of the [health] spending distribution, financial burdens are very high.”

“You start to get hit pretty hard,” said John Holahan, an Urban Institute fellow, and co-author of the report.

So in case you were wondering why your ‘pocket book’ never improved – it’s simple – the commandeerer in chief’s plan has sucked up all your extra savings.

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  • Mike

    When you look at the overall picture with the cost of medical devices and drugs going up it is more like 15% – 20% of peoples’ incomes.

    • AllodialTitle

      Think I’ll move to the mountains of some foreign country and teach English for $20/hour cash,,,so they can go to USA INC and be nice little federal chattel property after they become US CITIZENS and enroll in VOTER REGISTRATION to clinch the slavery

      • Ken, Megapolis

        Saudi Arabia and Japan pay the best rates for english teachers. However, speaking the native lingo is a must. I once worked in France in a local hotel. I looked towards english teaching but in all honesty I could make more money in a call centre in London.
        Currently visiting London for Big Ben. Happy new year to all👍🏻

        • AllodialTitle

          I have a friend whose son married a lady from Chile, he moved down there with her and makes $20 / hour and loves it.

          • sunshine

            I want to go to Uruguay. Spanish isn’t hard to learn, I worked with a bunch of illegals and we understood each other pretty well and I even took a few customer calls in Spanish….I’d just have to brush up then I bet I could teach English down there.

          • Ken, Megapolis

            A friend of mine recently visited Japan and fell in love with the place, its food and customs. He seriously wants to move there. I sense his passion. Passion is always worth following and someone else’s passion may not be the same as yours.
            My trip to London went well, part of me wishes I could stay longer, but fearing SHTF I opted for Bonny Scotland.
            I am looking to growing my own carrots, beetroot, cabbages, all sorts of things. London is a once a year trip. I guess one can overstay a welcome.
            Also doing Dryathlon to raise money for cancer research.
            So help me God.

          • AllodialTitle

            Interesting accounts. I speak fairly fluent Spanish and survival Aztec ( Nawatl), and Pico Orizaba area is filled with mountain survival farmers growing non-gmo veggies , some of which I never heard of before. Old men hop around the mountain trails like teenagers.

  • picomanning

    Higher medical insurance premiums for most American is another boot on the back of would be home purchasers. Don’t look for the housing market to look anything like robust while this disaster works its destructive magic. The only thing worse will be for our “enlightened” government to force another wholly incompetent, wasteful, anti-capitalist, agency down our throats. We’ve all read how about half of our population has less than $1,000 bucks saved.
    I’m a Realtor (27 years) and will sell my home this spring. Invest in ammo.

    • mayday911us.

      I would also invest in the anarchist cookbook, blasters manual, explosives handbook, improvised explosive black book volumes one through three, improvise munitions handbook.

      Also look at and reloading that is kind of expensive do you been jump into.

      Also invest in maps of your state in your area. Learn where your distribution centers are military reserve stations law-enforcement is. With some of the YouTube videos of Preppers there is some very good information there.

    • Ken, Megapolis

      To invest my friend means that you wish to sit on some assets for a wee while before selling them at an increased price in the future. Did you mean “I am purchasing a gun to defend myself if necessary?”
      I sincerely believe I am too unstable to be trusted with firearms. I have listened to a lot of right wingers who wish to help me. But my jury is out.
      So help me God.

  • RE

    And all the Obama cronies are getting a piece of the pie…
    Oh, but we’re in RECOVERY!
    Lol. 🙂

  • SP_88

    This was the whole purpose of 0bamacare. It is part of his plan for redistribution of wealth. It’s a socialist idea. It takes money from the earners and gives it to the leaches. And the people who are just above the poverty line suffer the most. They don’t earn enough to get by, but they earn too much to qualify for any assistance. And so they eventually get pulled below the poverty line. Very few people are ever able to swim against the current and break away from the crowd.

  • Tatiana Covington

    I’m surprised there’s not been revolution by now. What is the next outrage?

  • WeeSee
  • AllodialTitle

    Don’t return the Tithe to the Author of The Book? More will be lost to the Devourer than the 10%. Reverse the curse, obey the instruction manual.

  • StevetheHun

    They voted for the stooge of the super-wealthy elite bankers,because he promised them lots of free stuff! They now wake up and realize, it wasn’t free.

    Oh, nevermind… Another stooge of the super-wealthy elite bankers is promising them free education, free money, free this and free that…. They’re willing to fall for the “rob the rich” thing again!

    They have no principles and are little more than lazy muggers using the government gun to mug the working class.

  • calhar

    I have doubts that the Obama administration and congress can be blamed for this outright robbery.Take a long hard look at the hospitals,medical profession and drug company lobbyist in Washington.As long as these people get rich they fleece everyone they can,with their mothers cheering them on.The sicker they make people the better they like it !!!!!!!