ObamaCare kills jobs by promoting early retirement.

How ObamaCare Will Kill Jobs

A blog about business and economics.
Sept. 4 2012 12:42 PM

How ObamaCare Will Kill Jobs

Kevin Drum has a nice blog post about how this time around he has a personal stake in Democratic victory despite general prosperous white maleness. Specifically, if ObamaCare is implemented as planned he'll be able to retire early:

You see, I've never really intended to keep blogging until I'm 65. I might, of course. Blogging is a pretty nice job. But I'd really like to have a choice, and without Obamacare I probably won't. That's because I'm normal: I'm in my mid-50s, I have high blood pressure and high cholesterol, a family history of heart trouble, and a variety of other smallish ailments. Nothing serious, but serious enough that it's unlikely any insurance company would ever take me on. So if I decided to quit blogging when I turned 60, I'd be out of luck. I couldn't afford to be entirely without health insurance (the 4x multiplier that hospitals charge the uninsured would doom me all by itself), and no one would sell me an individual policy. I could try navigating the high-risk pool labyrinth, but that's a crap shoot. Maybe it would work, maybe it wouldn't.

Keep this in mind if you hear conservatives citing a CBO study that says ObamaCare will reduce employment. There is such a study, but it's talking about what Drum's talking about here. ObamaCare will make it easier for people to retire early, which will reduce aggregate employment levels. That's a real thing with real economic consequences, but not the same kind of thing (or same kind of consequences) as a big decrease in employer demand for labor.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

  Slate Plus
Slate Plus
Aug. 28 2015 12:31 PM What Happened at Slate This Week? International affairs writer Joshua Keating on what to read to understand the apparently permanent slowdown of the Chinese economy.