Buffett: Scrap Obamacare and Start All Over
By Money Morning Staff Reports Updated 11:08am EDT 10/01/2013
When asked, "Are you in favor of scrapping [Obamacare] and going back to start over?", famed investor Warren Buffett said on CNBC March 1, 2010, "I would be — if I were President Obama.”
Buffett insisted that without changes to America's health system average citizens will suffer.
"We have a health system that, in terms of costs, is really out of control," he added. "And if you take this line and you project what has been happening into the future, we will get less and less competitive. So we need something else."
Three debate-ridden years later, millions of Americans still agree.
But now that the exchanges are open, Obamacare has finally kicked off.
The government program, which some economists call the biggest tax increase ever in the United States, is also one of the most hated bills in history.
Ask millions of Americans what they think about the new law, and chances are they're ready to pop a jugular.
Critics heavily oppose the mandate requiring them to purchase health insurance. They're also furious at all the new taxes, fees, and higher premiums they'll be stuck paying, thanks to Obamacare.
Yet, while millions of Americans loathe every facet of The Affordable Care Act, as it's officially titled, another group of Americans see it as a once-in-a lifetime opportunity to get rich: Investors.
Obamacare may cost Americans 25% of their paycheck or more on January 1st. Are you at risk? Find out here.
According to Wall Street expert and Money Map Press Chief Investment Strategist, Keith Fitz-Gerald, Obamacare will create unheard of riches for investors who tap into the right companies.
"Obamacare is one of the single biggest wealth creation opportunities to hit the markets in decades," says Fitz-Gerald. "That's because huge amounts of money - trillions - will be spent as Obamacare gets rolling."
"And trillions more will be reallocated," he adds.
Not all companies will benefit - but a select few are primed for higher returns on a scale that was simply unimaginable before this legislation was passed.
These companies, and their investors, are set to make a fortune in the next several months - and years - as the full Obamacare plan gets underway.
Fitz-Gerald says main street investors will have a chance to reap big paydays - provided they know which sectors stand to benefit most.
Publisher's Note: Fitz-Gerald reveals the two sections of Obamacare that will create a new generation of millionaires.
With the implementation of Obamacare quickly approaching, Americans are asking what they can do to prepare for all the new costs and rules.
One expert, Betsy McCaughey, former Lieutenant Governor of New York and constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-selling book showing Americans how they can survive Obamacare.
McCaughey is one of the only people in the country -- including members of Congress - who has actually read the entire 2,572 page law.
Her book, titled Beating Obamacare: Your Handbook for Surviving the New Health Care Law breaks down the complicated bill into 168 pages of actionable advice.
(And just about every congressman and Senator has not read the Obama-care law. Nancy Pewlousy told House reps " you have to vote for it inorder to know what is in it" anyone want to buy gold in a bag and not open the bag until you get home?)