Since 2008, the biggest banks have gotten bigger: Due to the failure of small mortgage brokerages since 2008, to put in prospective just four biggest banks issue 50 percent of mortgages. Bank profits are highest since before the recession.
Now Obama with the so called “Affordable” Health Care Act or (Obamacare) is attacking small business insurance brokerages.
Buying health insurance online is the future and is to convenient consumers, although under Obamacare it’s not such great news for the more than 100,000 insurance agents and brokers who depend on commissions for a living. As Obamacare has it own website the Government is pushing to sign up direct and bypass the brokerages.
Brokers right now are hoping the technical glitches, and the complicated nature of health insurance with the premiums, deductibles and government subsidies will drive consumers straight to that quaint office in the neighborhoods.
If Obamacare can get enough business through exchanges, where they aren’t going to have to pay brokerage fees, then the Healthcare companies are going to prefer to go through the insurance exchanges,
Fierce price competition on the exchanges could also eat away at insurance company profits, squeezing brokers commissions.
Doctors are also feeling the heat with reduced costs for procedures, for Obamacare to succeed, American doctors need to earn less money. America is projected to face a shortage of 91,500 doctors in 2020. Meanwhile, many surveys have concluded that American doctors have a negative view of Obamacare.
Then comes the average American attacked by Obamacare, Obama originally said that Obamacare was not a tax, but the Supreme Court said it was. This is the largest tax increase on the American people ever, directly attacking the middle class the hardest. Forget Obamas promise that we will not raise taxes on anyone making less than $250,000 a year as Obamacare effects all.
These are middle class to upper middle class sectors attacked by the Obama administration, with the middle class eroding away due to Obama policies, putting more Americans in hardship and dependent on government subsidies, which equate to more votes for the Democrats.