Obama’s health care “reform”, it’s two for the price of one! Investor’s Business Daily:
The president’s runaway-train approach is the same one he used with the economic “stimulus” package. On the very day the House health bill was released, newspapers reported the Treasury Department’s announcement that we have amassed our first one-year deficit of $1 trillion – and we have accomplished this in just six months. If the $1.2 trillion House bill becomes law, that record likely won’t last for long.
The three central problems in American medical insurance are the rising costs of care, the deficit spending resulting from the rising costs of Medicare and Medicaid, and the number of uninsured.
The House bill does nothing to deal with costs, would increase deficits and would apply a multitude of new taxes to pay for those who are uninsured.
The bill contains a pay-or-play provision that would require all but the smallest businesses to provide health insurance or else pay a fine equal to 8% of payroll.
The White House’s own internal estimates – based on a model developed by Council of Economic Advisors Chairwoman Christina Romer – say this would cost employers $300 billion and would cost workers 5 million jobs.
Hide Those Dollars
The bill would increase income taxes by $583 billion. The White House says only the rich would be taxed. The truth is, this would be a tax on job creation. More than half of all those taxed would be small-business owners, and the taxes would be substantial.
Gee, and this is on top of the job killing, economy destroying crap and tax bill. It’s a double twofer. The only field that appears to be poised for growth is in the wonderful new field of fitting contraceptive devices to wild mustangs.
Maybe they should have told us that the biggest “shovel ready” project they had in mind was burying the US economy.
Our government, hard at work.