Health care and corporate profits

By John Dombek, Santa Clara, Utah

Sunday, April 27, 2014 | 2:01 a.m.

The Affordable Care Act guarantees your health insurance cannot be denied or canceled because of a pre-existing health problem.

Government costs will be $5 billion less than the nonpartisan Congressional Budget Office projected for February of this year. Costs will be $104 billion less that it projected for 2015-24. These savings mean the deficit will be $22 billion lower than forecast just two years ago.

The CBO reports that 25 million people will be insured through health insurance exchanges — and an additional 13 million will be covered through Medicaid and the Children’s Health Insurance Program. These people wouldn’t have health insurance without Obama­care.

Nearly all these savings are achieved because the government’s subsidies for health insurance premiums will be $300 cheaper than this year.

There are flaws in Obamacare that need to be repaired now, but because of the stalemate in Congress brought about by the Tea Party and ultra-conservatives such as Ron Paul, it will not happen.

One sad note: Corporate profits will be affected. They will probably have to reduce such expenditures as multimillion-dollar salaries for CEOs and golden parachutes for retired executives.

That means those people won’t be able to afford private jets and yachts, which means workers will not be able to take advantage of the so-called trickle-down economic boom that the present, exclusive corporate tax breaks provide. So sad.