As a Republican presidential candidate, former Florida Gov. Jeb Bush has outwardly expressed his opposition to Obamacare. Privately, he has made more than half a million dollars from it.
Tax returns released on June 30 by Bush’s campaign showed that in September and October 2013, Bush sold $1,103,424 worth of stock in Tenet Healthcare — resulting in a capital gain of $556,283.
Bush served as a director at Tenet from 2007 to 2014, and was required as part of his employment agreement to make a significant investment in the company.
Tenet’s stocks rose significantly from October 2012 to March 2013, right when President Barack Obama began to show signs of being re-elected — ultimately resulting in the implementation of his health care reform, known as the Affordable Care Act.
Tenet’s stocks were shown to outperform other stocks as a result of investors predicting that hospitals would be more profitable after Obamacare. A majority of Bush’s Tenet sales took place on Oct. 2, 2013, right at the beginning of the government shutdown and the day after the launch of Healthcare.gov. That same day, Tenet shares were up 6 percent.
Publicly, Bush has spoken out against Obamacare even before announcing his candidacy — blasting it before the 2014 elections and calling it “flawed to its core.”
“I don't think it will work,” he said at the time. “If the objective is, don't worry about the budget, we'll just finance it the same way we're financing our deficits right now, build a bigger debt, you could see this thing surviving. But it will have failed what the promises were. It will have failed the American people. And I don't think it will bend the cost curve."
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