Income, Poverty, and Health Care Essay

The objective for this paper is to explain what I form learn from our class handling and our readings of Chapter 30 of our text, Economics Today. It pass on orient my personal understanding of this weeks objectives through explaining what I have learned by analyzing the impacts of government regulation of the thrift, including the systematisation for and history of regulation, degrees of success, and future consequences if regulation does or does non occur while applying stinting concepts to explain income distri providedion, and its connection purportstyle choices and opportunities.In this weeks assignment, to relate them to my life experiences, I have selected two articles relating to this root, Income, Poverty, and wellness C ar, and I pass on be explaining wherefore we atomic number 18 to review what has been happening lately, and wherefore it is happening? The first article that I have chosen relates to the same question as our class discussion, health sell. I cho se this because it is exceedingly relatable to non fitting a minor(ip) group of individuals, but every American citizen in the United States.Obamac are, or affordable Care Act, pass on take ensnare on October 1, 2013, and it is viewed as when poor and middle class Americans give begin signing up for the health care laws sore benefits. (Young, J. (1-19-13)) To make sure that everyone signs up for this rude(a) health care program, they have created encrypt America, an umbrella organization of nonprofits and health care industry organizations, that pull up stakes carry verboten a major national mankind education campaign with paid advertising, online outreach, confederation activities and coordination. (Young, J. (1-19-13)) The major problem that most bequeath have a hard condemnation swallowing is the hunky-dorys that you will bring forth, either as an individual, or as an employer.Government Health redress Mandates If an individual does not have amends they wil l be required to deliver a fine of up to $750 per category or up to $2,250 per year for a family that is uninsured. Firms with more than than 50 employees will receive a fine of $750 for every employee that obtains federal official subsidies for coverage. (Graham, J. & Kaye, D. (2006) Pg. 79) One issue that most multitude would not blush think intimately concerning the spic-and-span healthcare laws is that it is going to go out budgets a great muckle more than we first thought. I know that I was shocked to learn that our family pets routine visits to the veteran soldiererinarian office will overly come with a amplyer damage tag due to the new healthcare law.While they said this is un think, the fact that checkup equipment and supplies will be going up in cost, that unneeded expense will have to passed on to the customers. (CBSMiami (3-11-13)) Most would enquire how this would affect their office visit for their haired family members. Well, its part of a new 2. 3 -percent federal excise revenue on certain medical devices that just went into effect. The tax income will help fund the tolerant Protection and Affordable Care Act, intended for people, not pets. (CBSMiami (3-11-13)) We know that the manufacturers will have to pay this tax, which will in tress cause their costs to produce these products, to rise. They will have no choice but to have to transfer these costs onto the consumers.This affects our vet visits because some of the products that were meant for humans also are used in our vets office, such as IV pumps, uninspired scalpels and anesthesia equipment. (CBSMiami (3-11-13)) This weeks topic relates to one that I had discussed not similarly long ago in my Macroeconomics class. Since we are to be charged an additional tax to cover this new law in healthcare, I thought it would be captivate to bring up the following information. The hoped for results of tax revenue and government consumption as implied by the fiscal constit ution, is to help keep our economy out of a recession, or even worse, a depression.Depending on how fiscal policy is used in different situations, it will affect different people, and is not of all time helpful to the whole economy. The economy involve to be closely monitored and adjusted on a constant basis establish on what is currently, or what is expected in the future of the economy. In times of high inflation, the government will step-up the tax revenue drift to help build up the economy and keep the inflation rate down. Fiscal policy has the right to increase or decrease government spending which can raise or depress the overall economy monies in circulation.With this universe said, it makes it clearer as to why we are taxed higher(prenominal) as the government increases its public spending. It may not seem understandable to the worldwide population because most are not in agreeance with this new healthcare law. some(prenominal) believe the increase in taxes will no t cover the costs that are going to be associated with the healthcare mandate, which will in turn cause the federal and individual postulates to also raise their taxes or reduce their healthcare costs in order to balance out the increase funding needed to support these new laws. (Graham, J. Kaye, D. (2006) Pg. 681)I must say that later digging deeper into this subject, I am more appalled at the fact that this new healthcare reform act may potentially damage our society rather of help it. In the current state of our economy, which is shaky to say the least, does our government very think this will help us? I for one am not too sure. I do not want to get slapped with a fine because I choose not to bribe healthcare, but taking on an extra payment, when our pocketbooks are already stretched past their limits, is just as equally disconcerting.