Official scores of H.R. 3962 (the House Dem health bill) are out from the Congressional Budget Office (spending) and the Joint Committee on Taxation (revenues). A few highlights:
- When the bill is fully phased-in, it will increase spending by approximately $150-$200 billion annually. Put another way, it will add about a percentage point to federal spending as a portion of the economy. Put yet another way, it will increase the historical size of the federal government by about 5 percent.
- The bill won’t even come close to universal coverage. The bill reduces the number of the uninsured from 53 million to 18 million. It’s true that 96 percent of legal residents will be covered, but those 18 million uninsured will still be a huge drain on our health system. One would expect that $150 billion to $200 billion per year would get you universal coverage, at the very least.
- By far, the largest tax hike will be the 5.4% surtax on millionaires and half-millionaires. Let’s also not forget that this should include about half of all small businesses in America. It raises taxes by $461 billion in the first ten years.
- When the bill is fully phased-in, it will increase net taxes by approximately $200 billion per year. Put another way, it will add about a percentage point to federal taxes as a portion of the economy. Put yet another way, it will increase the historical federal tax burden by about 5.5 percent.
You know why the American people have been steam-rollered? Because that’s how our Soviet Democrat representatives work.
CAN SOMEONE EXPLAIN WHY THIS WAS RAHMED THROUGH WITH SUCH FRENETIC HASTE WHEN IT WON'T TAKE EFFECT UNTIL 2013?
This is not a rhetorical question. I'd really like to know.
This administration and this Democrat Congress has not been tethered to reality. Now their bilious balloon is ascending, taking our hopes for a decent life and a workable health care system with it.
Kiss another freedom goodbye.
[post ends here. More later]
6 comments:
By far, the largest tax hike will be the 5.4% surtax on millionaires and half-millionaires.
This is a direct assault on capitalsm. The right to save one's earned money is central to the ability to fund investment in capital assets. Without savings, we are devouring our capital assets, our advanced means of production, in favor of fleeting, short-term benefits.
CAN SOMEONE EXPLAIN WHY THIS WAS RAHMED THROUGH WITH SUCH FRENETIC HASTE?
Haste is a classical symptom of deceit. Deters people from due dilligence and honest discussion. Lisbon Treaty, anyone?
The whole point is not healthcare but the removal of choice.
Kathy-
It is also leaving in place the things that are wrong:
1. no tort reform so the lawyers can still make a killing;
2. no reform of the pharmaceutical industry which is much worse than the financial sector;
3. taking away the innovation of the small health insurers;
4. no reining in of the big hospitals (like the one that paid Mrs. Obama 300K for a job they created just for her and then eliminated when she left for Washington).
5. no reform of the medical education system.
6. making insurance more expensive for worker and employer alike;
7. failing to make health insurance truly portable.
Yeah, that's the point of what Kathy said. This has nothing to do with improving life or health care. It's about increasing government control of people. Just a means to an end.
I can't see the US getting this national health care system right. After all, they have screwed up on so many things - electing Bush TWICE, climate change denial, starting two wars they can't finish - that they really have no chance at all!
I have just started reading it. There is a section on things that take effect as of 1 jan 2010.
That soon enough for you? That is the part where insurance companies get to pay massive fines for dropping coverage or raising premiums for chroically sick people (i.e. pre-existing conditions). In other words, If you are ensured and get AIDS, you are ensured for life at your old rate, adjusted only for age.
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