Redistribution of wealth – oh how the Republicans like to trot that phrase out as an evil when they are trying to cut Social Security and Medicare, or ANY program that helps the middle class and poor.
But in fact, because the economy ONLY works from the bottom up, and not from the top down, a more appropriate term would be “reinvestment” of wealth.
On the other side of the coin, making the middle class and poor pay more for health care while providing big tax cuts for the wealthy, is indeed an evil redistribution of wealth. It is evil not only because of the suffering and hardship it causes, but also because it slows down the economy when consumers have less to spend on things other than health care. Insurance executives and the elite rich are the only ones who benefit, and the benefit is only short term.
In defending Ryancare, Republicans are pointing to deficit reduction, but as always they seem to be only aware of one side of the deficit equation – government spending. But the other side of the equation is government income, primarily through taxes. Trying to reduce the deficit ONLY by reducing spending on benefits to the middle class and poor, while simultaneously reducing government income with tax cuts to the wealthy, is not a sustainable policy. It will only help with the deficit short term. Eventually, less consumer spending equals less demand for products and services, equals less profits for businesses, equals fewer jobs, equals less income for consumers, equals less consumer spending… and so on – a viscous circle that will never end.
The ONLY long-term impact of the Republican strategy is shifting the burden to the middle class and poor, increasing their hardship and suffering.