Nobel-prize winning economist, Ronald Coase, explains Obamacare by comparing it to farming. Farming doesn't seem too hard to understand, right?
If one farmer's cattle tramples his neighbor's crops, is it the cattle owner's fault? Coase says there are two ways to look at this situation. If the law requires fencing to keep the cattle off the neighbor's land, there are fencing costs imposed on the cattle farmer. If the law says he can let his cattle roam free, there is the social cost of possibly trampling his neighbor's crops. Either way, he pays a price.
When it comes to healthcare, if the law says everyone must purchase healthcare, those that get sick are in essence "fencing their land." They are being responsible for their own costs.
Currently, those that get sick cannot afford to pay, and go to the emergency room, are treated, and the cost is passed on to everyone else. This is the social cost Americans are burdened with today.
Would you want your neighbor's cattle stomping around on your crops? That's essentially what is happening today with healthcare. Every American should be outraged at the costs being passed down to them and be in full support of Obamacare.
The Supreme Court case about Obamacare is calling the legislation a violation of civil liberties. Hogwash! "All the highfalutin' talk of the precious liberties at stake is an irrelevant, if highly effective, distraction," say authors Kevin Caves and Einer Elhauge.
So, who should the healthcare mandate fall on? The insured paying for the uninsured, as it is now? Or on individuals being personally responsible?