The Congressional Budget Office’s report on what Obamacare – given the president’s numerous rewrites and delays to the policy, I can now comfortably retire the term “Robertscare” – will do to the labor force (the equivalent of 2 million Americans leaving the workforce), Nancy Pelosi actually celebrated the news (Hot Air):
“What we see is that people are leaving their jobs because they are no longer job-locked,” House Minority Leader Nancy Pelosi (D-Calif.) told reporters after House votes Tuesday afternoon. “They are following their aspirations to be a writer; to be self-employed; to start a business.”
While many of her critics lamented (and loudly) Pelosi and her allies for their devaluing of work, far fewer noticed that her own argument is completely wrong (to be fair, Hot Air’s Mr. Glass did).
As it happens, I have some friends who are writers, and they tell me that it involves quite a bit of hard work (no real surprise there). They also greatly enjoy it. More to the point, however, they don’t have rags-to-riches stories of their success. They started small, with short stories, and then moved up to novels. Writing, like any other career, has its well-worn paths.
What they didn’t have was a health-insurance subsidy that would disappear between, say, story five and story six, or between the sale of copy number 1000 and copy number 1001. That’s what Pelosi et al seem to miss: the subsidy-loss effect impacts all industries: manufacturing, services, and the arts she seems to prize.
The subsidy – and its clawback at certain income levels – doesn’t give workers the freedom to change jobs that would otherwise be blocked: it prevents people from advancing any career.
Of course, you’d have to understand microeconomics to get that, and economics of any kind just isn’t the Democrats’ strong suit.
Cross-posted to Virginia Virtucon