→ Why Conservatives Oppose Obamacare

James C. Capretta nails it in two paragraphs:

Instead of reforming these entitlements while trying to broaden insurance coverage, Obamacare leaves the current behemoth in place and then piles massive new commitments on top of it. According to the Congressional Budget Office, the law will entitle at least 30 million people to expensive new health-insurance subsidies, and that number could easily rise by 20 million or more if employers dump their workers at moderately higher rates than the CBO assumes. The new spending for these commitments will grow at a rate of about 8 percent per year from 2016 through 2022, pushing the new entitlement’s cost at the end of the ten-year projection period to $250 billion a year. Over the long run, this new spending commitment will add trillions to the government’s unfunded liabilities.

The law’s proponents argue that these commitments are fully paid for with spending cuts and taxes. This is false. A primary source of funding is the reimbursement cuts in the Medicare program that are so plainly unrealistic that the chief actuary has said repeatedly they can’t be relied upon to finance the bill. And the tax hikes in Obamacare are reason enough for conservative opposition: Totaling $800 billion over a decade, these taxes will lessen growth by reducing investment and the labor supply, and will reintroduce “bracket creep,” a way to push tax collection higher and higher with each passing year. The CBO estimates that Obamacare will push up federal tax collection by more than 1 percent of GDP by 2035, largely because the taxes will apply to more and more middle-class Americans.

Unfortunately, it is tough to explain that in a 30 second campaign spot. Hopefully, over the next few weeks, Governor Romney and Congressman Ryan can at least make a few attempts at articulating it.