Obamacare explains spending power loss
On Dec. 18, the Daily Herald put an article on the front page titled “Income gap Is slowing recovery.” This piece Associated Press was an opinion piece masquerading as a news article. The article promoted wealth redistribution but did not quote any economists as to what the increasing of wealth redistribution would do to the economy. The United States has the best standard of living of all the large advanced economies.
Countries that have more wealth distribution have a lower standard of living. In the last five years we have seen a larger income gap because the median income has been decreasing, which is what should be expected from too much income redistribution. Things will get even worst with the wealth redistribution built into Obamacare that makes middle class citizens pay thousands more for insurance.
The Daily Herald should have front-page stories showing that the middle class is losing spendable income due to the increased cost of Obamacare insurance.
Gene Kalley
St. Charles