It must be fun to be a Grand Poobah of health insurance in Massachusetts. Here you sit on your Grand Poobah cushion while the peasants come before you to plead their cases. One begs you to limit copays for visits and drugs because they add up pretty quickly. A doctor asks you to disallow deductibles of $2,000 because it provides “inadequate coverage.” Yet a business owner says that is the only kind of coverage they can afford. A self-employed artist requests that you consider net income, not gross income because she spends so much of her gross on art supplies. A consumer advocate asks you to disallow Health Savings Accounts, while an AIDS activist wants you to provide unlimited lifetime benefits. And it is up to you - the All Powerful and Mighty Grand Poobah of the Connector - to grant these wishes or deny them on behalf of the entire fiefdom. All must obey or be severely penalized.
And yet the deadline for obedience (July 1) approaches and a mere 100 people a week (out of the 160,000 required) are signing up for coverage. In the Olden Days we could send Paul Revere to “every Middlesex village and farm” to alert the peasants to their new “responsibility,” but today we’ll have to settle for spending $3 million in taxpayer money on advertising and delay the deadline until November. Surely by then, they will humble themselves before the Poobahs and do as they have been told. There will be no Tea Parties this time around.
Featuring Dan Ikenson, Director, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; Simon Lester, Policy Analyst, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; Daniel Pearson, Senior Fellow, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; and Bill Watson, Policy Analyst, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute.
- Legal Briefs
- Cato Handbook for Policymakers
- Cato Journal
- Cato's Letter
- Cato's Letters
- Cato Papers on Public Policy
- Cato Policy Report
- Cato State Legislative Guide
- Cracking the Books
- Economic Freedom of the States of India
- Economic Freedom of the World
- Public Comments
- Supreme Court Review
In this issue of the Cato Journal, economists Geoffrey Black, D. Allen Dalton, Samia Islam, and Aaron Batteen offer one prominent example of allowing the market to work. Also in this issue, economists Jason E. Taylor and Jerry L. Taylor reexamine the relationship between marginal tax rates and U.S. growth, and Robert Krol looks at bias in CBO and OMB economic forecasts.
March 11, 2014
P.J. O’Rourke discusses his book, The Baby Boom: How It Got That Way (And It Wasn’t My Fault) (And I’ll Never Do It Again) on FBN’s The Independents
March 11, 2014
Latest CommentaryOn Monday, former National Security Agency contractor Edward Snowden beamed himself into a packed room at the South by Southwest festival...
The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.