Obamacare will self-repeal

The debate is over.  We do not need to repeal Obamacare; it will repeal itself.  Two words summarize why: risk pool. The ACA is founded upon a stunning misconception of the very definition of insurance.  Its advocates have mistakenly conflated two unrelated concepts: insurance and welfare – or, more to the point, risk and charity. People buy insurance in order to mitigate risk.  We buy fire insurance because there is a slight chance that our house will burn down.  If we cannot afford insurance, and our house burns down, we do not go to the insurance company to demand coverage for a pre-existing fire.  Instead, we rely on the charity of donors – say, the Salvation Army.  We do not demand it, and indeed, we may not receive it, but life has risks, which is why we buy insurance. Obamacare has failed to make the critical distinction, which is why it is collapsing.  The only people paying into the system are those who are wealthy...(Read Full Post)