While all Americans have been victimized by the Obama Presidency, elderly and disabled have been impacted the most. A failed economic policy, including negligible interest rates, harms those relying on fixed incomes and revenue generated by life’s savings and retirement investments.
The Obama Administration withheld Social Security cost of living adjustments while increasing deductions for Medicare Part B premiums. A nationwide housing crisis depreciated home values and inflation increased costs of most foods, clothing and services. A misguided energy policy influenced by environmental extremism has gasoline approaching $4.00 per gallon and home heating, cooling and electrical energy bills soaring.
Commencing in 2013, Barack Obama’s Health Care Reform Act will adversely impact all, especially, seniors. For the first time, an American President is calling for $500 billion reduction in Medicare and $40 billion slash in Assisted Living and Nursing Home subsidies. Health care professionals anticipate seniors will experience reduced medical care and rationing of services due to Obamacare and doctor shortages.
The legislation will also impact home sales by imposing a 3.8% tax on all real estate transactions. Additional new taxes include 1% on all bank transactions including deposits and withdrawals, direct deposit of Social Security and pension checks and tax refunds.
For those requiring branded drugs and medical devises such as walkers, wheelchairs, heart stints, pacemakers and other aides a new tax of 2.9% will prevail. These are attacks on all but, especially, America’s elderly. Hopefully, a change in Washington will be more senior friendly.