The Rich Got Richer under Bill Clinton and Barack Obama… And, especially their rich buddies!
But, while the rich got richer under Obama millions of Americans did not do so well. Poverty is currently at its highest rate since the 1960s.
And, it will likely get worse thanks to Democrats and Barack Obama.
A recent union research document revealed Obamacare will hasten the income inequality in America.
Via Ralston Reports:
As national Democrats prepare to run against the GOP on income equality issues, a giant union has issued a scathing Obamacare document that could undermine that case.
“The Irony of ObamaCare: Making Inequality Worse” is the title of the UNITE HERE (Culinary parent) document that is posted here and soon to be making its way to Capitol Hill. It is devastating to the Democrats. To wit:
Ironically, the Administration’s own signature healthcare victory poses one of the most immediate challenges to redressing inequality. Yes, the Affordable Care Act will help many more Americans gain some health insurance coverage, a significant step forward for equality. At the same time, without smart fixes, the ACA threatens the middle class with higher premiums, loss of hours, and a shift to part-time work and less comprehensive coverage.
The paper argues that the Affordable Care Act will transfer a billion dollars in wealth to insurance companies, create an unlevel playing field in the market, force employers to cut back hours and result in pay decreases. It lays it out in detail, with examples of union workers affected by Obamacare.
And then it concludes:
For two years, labor unions and employer partners have patiently explained to the Obama Administration and Congress the potential damage that the ACA poses to these unique, successful non-profit health plans.
Having already made efforts to accommodate businesses, churches and congressional staff, it is ironic that the Administration is now highlighting issues of economic inequality without acting to preserve health plans that have been achieving the goals of the ACA for decades. Without a smart fix, the ACA will heighten the inequality that the Administration seeks to reduce.
We take seriously the promise that “if you like your health plan, you can keep it. Period.” UNITE HERE members like their health plans. UNITE HERE’s plans are ready to compete with the corporate giants of the health insurance industry if Washington will simply create a level playing field.