The bill has 10 years of tax increases, about half a trillion dollars, with 10 years of Medicare cuts, about half a trillion dollars, to pay for six years of spending. Now, what's the true 10-year cost of this bill in 10 years? That's $2.3 trillion. First we know there will be no Medicare cuts of any significance. We already have doctors and hospitals and now drug stores complaining that Medicare business is a losing proposition. This has resulted in the Medicare 'Doc Fix' which in 2010 which was 210 billion.
The Medicare double count- cuts in Medicare spending will both pay for health reform and add to Medicare's long-term solvency. The CBO says it's either/or, but not both. Translation. "If you save it and spend it somewhere else it's no longer saved."
Force insurance companies to accept all applicants (no preexisting conditions) combine this with a non-insured penalty that is well below the cost of purchasing insurance and the penalty is paid to the government (IRS) and not the insurance companies to spread out the risk pool. The federal health and human services secretary will have new authority to review, and to block, premium increases by private insurers, potentially superseding state insurance regulators.
The folly of this has already played out in Ma, Tenn. and Oregon where insurance rates skyrocketed because of the negative effect on the risk pool.
This will force insurance companies out of the insurance business and create the need for a government sponsored single payer system. Good news to you miss guided libtards but to those of us who read about and understand what socialized medicine is and has done this is not good.
The Medicare double count- cuts in Medicare spending will both pay for health reform and add to Medicare's long-term solvency. The CBO says it's either/or, but not both. Translation. "If you save it and spend it somewhere else it's no longer saved."
Add a 3.8% tax increase on investment income, the new tax would apply to income from interest, dividends, annuities, royalties, capital gains and rents for individuals. In 2013 it would push tax rates on capital gains and dividends to 23.8%. This should go a long way in driving investment off shore. It certainly will not promote job creation.
Bottom line:
Higher rates for those purchasing insurance
Ultimate collapse of private insurance industry and loss of millions of jobs and the loss of investment capital these insurance companies use to back their risk pools.
Lower payments to hospitals, Doctors and other health care providers. Results will be fewer health care providers and lower investment in health care.
Debt service on total Debt will be 800 Billion by 2014 assuming we keep our AAA rating. This will result in increased taxes in the form of VAT taxes and internet sales taxes as well as a growing list of nanny state taxes.
State bankruptcy increases due to increased SChip and Medicaid expenses.
Not to mention the Government being in charge of who gets tuition loans what rate they pay and which institution they can use them at. Good news Comrades?
Sorry this is so long but I a whole lot pissed off and I find myself headed to Washington DC tomorrow for the third time in a year to try to keep these socialist bastards out of my family and business.
