Obamacare Ouch
02/10/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, Obamacare, politics and economics, Public speaking economist, tax on work
By 2024, 2.5 million fewer Americans will work due to Obamacare. Because Obamacare healthcare subsidies decline as incomes rise, some workers will deliberately not work to increase their government benefits. The structure of the subsidy is a tax on work. And you get less of whatever you tax. Regrettably, the labor force participation rate is now very low and this will reduce it by another 1.5% percentage points, reducing growth.