My latest op-ed at Investor's Business Daily explains the terrible misunderstanding of what insurance actually is that must be plaguing Washington, DC. Here's a snippet:
This leaves the burden of propping up the president's health spending law to the young and healthy, because it will be crucial for more young people relative to sickness-prone people to sign up to lower the premiums for everyone.
One way to solve this is to mandate that everyone have coverage. However, this mandate will work only if the people have taxable income. According to latest data available from the BLS, people aged 18-34 (the very people Obama needs to make his plan viable) have an unemployment rate of 8.2%, while people 35 and older have a mere 3.6%.
Thus, the president is calling on young people to give up more dollars they don't have (during a time of record-level student loans, no less) to pay for insurance plans that are too expensive.
The rest of the article can be found here.