“I will cut taxes - cut taxes -
for 95 percent of all working families, because, in an economy like this, the last
thing we should do is raise taxes on the middle class.”
-
Barack Obama
What’s
common among today’s Lawyers and Presidents? The answer is that they are both
required to be good speakers. This must be the reason why India’s current, as
well as former President, were both holders of degrees in Law. This principle
applies to Western Countries as well, such as the U.S. where Barack Obama had wooed his way into the Presidential Office in 2009.
Admittedly, Obama took office at a time
when America was suffering a Great Recession, with businesses laying off
employs on a large scale, in the wake of the 2008 financial crisis. But that
was over three years ago. As the new president, and with the aid of a firm
Democratic Congress, Obama gave U.S. a variety of promises, which till date
remain unfulfilled. Several of his policies have turned out to be futile. In the face of overwhelming public opposition, Barack
Obama’s health care reform legislation symbolizes the largest expansion of government
authority in over 70 years, and is a important step towards a government-run
health care system. He proposed an expansion of health insurance coverage to
cover the uninsured, to cap premium increases, and to allow people to retain
their coverage when they leave or change jobs. His proposal was to spend
$900 billion over 10 years and include a government insurance plan, also
known as the public option, to
compete with the corporate insurance sector as a main component to lowering
costs and improving quality of health care. [1]It would also make it
illegal for insurers to drop sick people or deny them coverage for pre-existing conditions, and require
every American carry health coverage. The plan also includes medical spending
cuts and taxes on insurance companies that offer expensive plans. On June 28,
2012, the U.S. Supreme Court ruled by a 5–4 vote in National Federation of Independent
Business v. Sebelius that the Commerce Clause does not allow the government to
require people to buy health insurance, but the mandate was constitutional
under the US Congress's taxing authority.
