Some people would suggest the United States of America had two founding fathers. The first being George Washington, while the second being J.P. Morgan. The former is a product of a newly formed constitution that established a framework for government, while the latter held in his deep pockets minions who labored toward the enactment of the Federal Reserve Act of 1913 with then President Woodrow Wilson’s approval.
The Federal Reserve Act of 1913 would eventually result in the decentralization of governmental power, transitioning it to the financial elite of that era. This measure took the U.S. Government and placed it in the deep pockets of the financial elite or what Representative Arsene Pujo (D-La) would call a ‘cartel’ in his namesake commission and scything report. So how does the political maneuvering that took place almost 100 years ago affect us today?
Firstly, these events formed a foundation of what can be termed ‘an illusion of democracy’. Political theorist such as Ronald Dahl posited that a true democracy exists nowhere in this world and that countries such as the United States operate as a “Polyarchy”.
Secondly, one must acknowledge in a society that defines itself as capitalistic and freely supports a market economy that the inherent competitive nature, as such, creates natural inequalities.
The collective inherited bastardy of our pluralistic society shines brightly as our moral collectivism falls in direct conflict with our capitalistic sensibilities. ‘Help the poor, the needy, and the indigent; yet only if they help themselves. No free rides here, especially on my tax dollars.’ Our middle-class is the progeny of self-flagellating capitalists whipping either the poor or the economic elite as members of our societal selves in reparations of this inner-conflict.
Thus, we reach the Patient Protection and Affordable Care Act (PPACA) viz a vie Obamacare. It is a mandate that states every person has the right to pay for his or her healthcare. It is the one missing staple necessary to enjoin our collective inner-conflict of moral collectivism and capitalistic sensibilities. Thus, the government will tend to the poor, the elite attend to themselves and the middle-class attends to the many different for-profit and not-for-profit healthcare providers with their dollars or they must pay the penalty.
A special note to the poor: instead of purchasing the latest technological gadget when your annual earned income credit (EIC) arrives, invest [along with your government representatives] in corporations such as United Health Group (listed as “UNH” on the NYSE) whose current stock price is at $54.00 per share.
For the middle-class, I recommend putting ‘money in thy purse’. Even non-profit health insurance providers such as Excellus of New York who, within 24 hours following the U.S. Supreme Court’s decision, submitted a rate increase ranging from 6.3 to 19.9% for community-based insurance premiums. Only one year after paying their CEO a 2.8 million dollar bonus on top of his 2.4 million dollar salary, they are all salivating as you line up at the registration counter. Just a little secret, non-profits, just like sports teams, beat the cap by rolling profit into bonuses and, in some cases, showing an annual revenue loss on paper.
As they say in America, if it is broke then break it some more. If it is really broke then it must be the middle-class.