Yesterday, March 20, House Minority Leader Nancy Pelosi (D-Calif.) put forth the very mistaken opinion that the Patient Protection and Affordable Care Act (PPACA), better known as Obamacare, will foster entrepreneurship.
As reported on CNSNews.com, Pelosi said at a press conference that Obamacare will allow people to leave jobs they don't like and pursue their dreams of entrepreneurship, helping them in their pursuit of life, liberty and the pursuit of happiness. "And just think, that you could be a photographer or writer,” Pelosi said, “start your own business, be self-employed, as well as change jobs or start a business and not have to be constrained by whether you had affordable and accessible quality health care."
However, Pelosi conveniently forgets that the IRS calculated the cost of a health plan under Obamacare at $20,000 annually for a family of five. That amount is for a bronze plan, the lowest-tier plan. Having to shell out that kind of money for a health plan is prohibitive for many entrepreneurs and may have the opposite effect, stifling entrepreneurship, which is a risky proposition that may not break even due to health care costs.
Once again, Pelosi is dead wrong.