There are many reason I don’t like Obamacare, including its punitive impact on taxpayers and the way it takes our healthcare system even further from a market-based approach.
But now I’m increasingly worried Obamacare also is creating a playground for hackers and identity thieves – and the rest of us will be the victims.
Simply stated, the results probably won’t be very pretty when you mix together these two items.
1) Typical government incompetence.
2) Massive data collection by government.
I pontificate on these issues in an interview with Neil Cavuto.
To elaborate, the internal revenue code is filled with double taxation of income that is saved and invested. As such the IRS insists on knowing extensive details on our income-producing assets, as well as any capital gains we earn.
And, if you’re subject to the death tax, they’ll want to know about everything you own. None of that would be necessary if we had a flat tax or a national sales tax.
Heck, they wouldn’t even need to know about your bank account since there’s no double taxation of interest with real tax reform.
But we’re on the other side of the pendulum, with the government wanting to know just about everything about our financial affairs. That’s good news for statists who want more redistribution…and it’s good news for other thieves who also want to take our money (but without using government as a middleman).
If you think I’m needlessly worried, check out this CNBC report. Here are some key excerpts.
Serious security weaknesses in the Internal Revenue Service’s data system have left millions of taxpayers’ sensitive financial information vulnerable to hackers. The agency claims it has fixed the problem, but its auditors beg to differ. A new report released by the Treasury Inspector General for Tax Administration (TIGTA) found that although the IRS claimed it had implemented 19 fixes to secure the system recommended by the auditor in previous years, at least eight (or 42 percent) of them “had not been fully implemented,” and should not have been checked off as completed. The auditors said the IRS never tracked its progress on the repairs, and in many cases, it closed cases without submitting documentation to prove the fix was complete. …The report also found that the agency didn’t properly scan servers—which contain taxpayer information—for “major vulnerabilities,” or properly lock user accounts, and it did not update software on databases. “When the right degree of security diligence is not applied to systems, disgruntled insiders or malicious outsiders can exploit security weaknesses and may gain unauthorized access,” Treasury Inspector General J. Russell George said.
That’s not exactly reassuring.
But it gets worse. Obamacare exchanges are a disaster waiting to happen, as explained in a USA Today column by the Chairman of the House Intelligence Committee.
Every day, personal information is the subject of hundreds of thousands of hacking attempts from all over the world. …On October 1, a major component of Obamacare made you even more vulnerable to devastating attacks on your personal information and the administration is doing too little about it. The Federal Data Services Hub (Hub), a component of the health insurance exchanges created by Obamacare, connects seven different government agencies and establish new access points to the sensitive personal information of the American public. Social Security numbers, employment information, birth dates, health records and tax returns are among the personal data that will be transmitted to this hub, consolidating an unprecedented amount of information. Every shred of data one would need to steal your identity or access your confidential credit information would be available at the fingertips of a skilled hacker, producing a staggering security threat. …These potential vulnerabilities are a dream of faceless international hackers and hostile foreign intelligence services.
Heck, you may as well put all your credit card info on your Facebook page.
More seriously, any sensible person will stay far away from Obamacare. Though if you don’t sign up on an Obamacare exchange, the White House wants you to get fined. So you lose no matter what.
Gee, isn’t big government wonderful?
