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Conover: Why Aren’t Millennials Marching In The Street Over Obamacare? November 25, 2013

Anyone with a conscience should be offended by the greatest generational theft ever witnessed in the history of the world. Young Americans—especially the Millennial generation born between 1977 and 1995—are the biggest losers in this battle, but it will adversely affect their children and grandchildren to boot.  Obamacare simply represents the latest front in this war, which now rages from Social Security to Medicare to this deeply flawed law that is imploding as we speak.

Let’s be clear: by design, this law can work if and only if enough young people are willing to pay premiums far higher than are actuarially fair in order to subsidize workers my age who on average earn far more than the young workers who are subsidizing them.  Even if one takes into account that Millennials in the long run eventually will become old themselves and benefit from these subsidies, Obamacare still is an extraordinarily bad deal that effectively would force today’s 18-year olds to pay 18 percent more for their medical care over a lifetime than if each generation paid its own way. Such an age-related tax is unconscionable. Imagine if sales taxes or income taxes included a surcharge for everyone who happened to be a twenty-something. If this idea sounds preposterous, welcome to Obamacare.

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