With Obamacare being ruled Constitutional, James R. Gorrie takes a look at his home state of California as a prelude to what America could become under the healthcare plan.
Austin, TX (PRWEB) July 12, 2012
Absolute Wealth is again providing audiences with a profound and thought-provoking look at Obamacare in yesterday’s edition of “The Gorrie Details” editorial column.
Written, as always, by Absolute Wealth Managing Editor James R. Gorrie, “The Gorrie Details” highlights the trends and topics making economic and geopolitical news. With Obamacare being ruled Constitutional, Gorrie takes a look at his home state of California as a prelude to what America could become under the healthcare plan.
“I find it more than just a bit ironic that the president, in the interest of giving the middle class a break, announced that he will extend the Bush tax cuts for another year,” Gorrie said in the column.
He goes on to describe the situation in California, where towns are seeing the effects of a crumbling economy and suffering the consequences. “Stockton, California became the largest city in US history to become insolvent…but it won’t be the last. California is in the midst of a crash and taxes are being raised, pushing the economy over the edge,” said Gorrie.
“The logic —or utter lack of it—of hitting the middle class with a $500 billion tax in the midst of a Great Recession, is staggering. But yet, that is what is happening. Where is the rationale for such double-edged policies?” asks Gorrie in the column.
Gorrie’s thought-provoking articles on economic issues help to inform people of their financial options, or lack thereof, as a result of the big, impactful happenings in the private and public sectors.
James R. Gorrie has more than eighteen years of financial advisory experience. He holds a BA in economics, and attained doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy. Gorrie writes daily articles on current macroeconomic and investment topics, Special Reports, and analyses on geopolitical events around the world that affect the market.
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