It's the second day of oral argument in the Supreme Court for Obamacare's health care law. Rumors are swirling that the individual mandate is probably going to be struck down by a partisan 5-4 vote, based on the questions being asked by the justices. After a quick glance at the transcripts, its not looking pretty. Here are some winners and losers.
Winners:
Market Volatility-Today alone, Aetna (one of the most important companies of Obamacare) was at one point, down at least 2%, and has since almost rallied back. The rest of the market has barely moved that much as a whole.
Nut-Job-ery: The system works for nut-jobery!!!
Losers:
Sensibility-Partisanship will be as sharp as ever. Fights over judicial nominees will go from Threat Level Orange to Threat Level Caliente Red. No judges will ever be confirmed to the federal bench again (sarcasm...but hopefully you get the point). Every judicial nominee will be labelled as too extreme.
Aetna-During today's market trading, Aetna went down by over 2%. However, it rallied once speculators and people who don't think the mandate will be struck down got into the action.
The Concept of Insurance-So the mandate is to help insurances have healthy people paying in to the risk pool. Without this, people can just get insurance when they get sick since health insurance cannot be denied because of pre-existing conditions...which is really bad for insurance. Bad things really will happen if the coverage stays and the mandate goes.
"In the rich state of Texas, 27.6% of the population are without health care. Why isn't that number higher?"
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