I thought long and hard about whether I would write about the Supreme Court's historic and surprising decision to uphold Obamacare last Thursday in today's E-Letter. Initially, I decided to keep my mouth shut and pick another topic for today. But that was before some so-called "conservative columnists" morphed into apologists for the Supreme Court and Chief Justice John Roberts. That made my blood boil!
So today, I will give you my thoughts on the Supreme Court's ruling on Obamacare. The Supreme Court apologists, including George Will (ABC News), would have us believe that the High Court ruling on Obamacare was a "victory" for conservatives. Say what? They argue that we should be happy that the Commerce Clause was shot down in this case, and because the Court ruled that the federal government can't deny Medicaid funds to states that elect to opt out of Obamacare. What I will point out today is that both of these rulings can be circumvented in the future.
The other point I will make is that Obamacare should have been ruled unconstitutional on the basis of fraud. President Obama and congressional Democrats promised the American people that Obamacare was NOT a tax. They knew it would never pass if Americans believed it was a tax. The Supreme Court ruled that Obamacare is not a "mandate" and that it is indeed a "tax." The point is, the American people were intentionally misled. In my business and most others, we call that FRAUD!
Following that discussion, we will review the latest economic reports, and I will tell you about our upcoming WEBINAR on July 12.