CBO has long since revised their "Obamacare" prediction. Costs are estimated to be $1 Trillion over ten years.
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Here are some disturbing facts about the new "healthcare reform" law known as Obamacare. These facts are mostly taken from MAIN STREAM news outlets like CNN and the NY Times however we'd like to thank CS monitor for thieir diligent efforts and contribution.
MORE SPENDING & MORE TAXES
$940 billion: The estimated cost of health care reform over the next 10 years.
40% Tax: A 40 percent tax would be imposed on insurance companies providing “Cadillac†health plans valued at more than $10,200 for individuals and $27,500 for families. The tax would kick in starting in 2018.
3.8% Medicare Tax: A 3.8% surcharge would be imposed on investment income -- INCLUDING HOME SALE -- for individuals making over $200,000 and couples making over $250,000. This tax increase is estimated to bring in $210 billion between 2013 and 2019.
$695 or 2.5%: The potential amount of a fine if you fail to purchase health care insurance. Starting in 2016, Individuals would be required to purchase coverage or face a fine of up to $695 or 2.5 percent of income, whichever is greater. The plan includes a hardship exemption for poorer Americans.
50 employees: Companies with more than 50 employees would be required to pay a fee of $2,000 per worker if the company does not provide coverage and any of that company’s workers receives federal health care subsidies. The first 30 workers would be subtracted from the payment calculation.
INCREASE COSTS
COSTS TO SENIORS: $132 billion: Government payments to Medicare Advantage would be reduced by $132 billion over 10 years.
MEDICARE INCREASE: Medicare Part A (hospital insurance) tax rate would be increased by 0.9 percent, to 2.35 percent.
PRESCRIPTION DRUG COST INCREASE: The amount drug manufacturers would pay the US $16 Billion between 2011 and 2019, increasing their cost to do business.
$47 billion: Health insurers would pay $47 billion over the same period.
2.9% excise tax: Medical device manufacturers would pay a 2.9 percent excise tax on the sale of any of their products beginning January 1, 2013.
Tanning Tax: Health care reform establishes a tax of 10 percent on indoor tanning services. This would raise $2.7 billion between 2010 and 2019. As far as we know, getting a tan outside is still free.
Limited Flexibility in Spending Accounts: The maximum amount you can set aside pre-tax for health care costs in a flexible spending account will be reduced from $5,000 to $2,500.
46%: The percentage of Americans in favor of health care reform, according to a Wall Street Journal-NBC News poll.
45%: The percentage of Americans against the bill according to the same poll.
36%: The percentage of Americans who think the bill is a “good idea,†according to the same poll.
Sources:
Health care reform: How House members voted â€" CNN.com
Highlights of health care compromise bill â€" CNN.com
Obama Executive Order on Abortion Funding, What health care reform means for your small business â€" CNN Money, Checking the Math on Health Care â€" NYTimes.com
Health care reform: How House members voted â€" CNN.com
Quote from: ChriswUfGator on August 10, 2011, 07:54:22 AM
You at least had to house and feed your serfs, the teabaggers also want to cut welfare, medicaid, social security, etc. So I guess in comparison, serfdom looks like a big step up to the United States the teabaggers envision.
Chris, I would love to hear the Democrat alternate plan. Other than just printing more money, as that has not appeared to be successful.
What is hilarious is you parroting what you read on the web sites that you peruse. Since our government has three independent branches, and the congressional branch is responsible for the annual budgets, the table which shows not only the executive party affiliation, but also the congress's as well, is much better suited for illustrating party tendencies at spending. And of course, the numbers quoted are just plain wrong, as usual.
As has been stated many times before by many people, our current financial situation is much more complicated than your simple partisan posts (and the loony partisan web sites they originate from) portray. You do have the gift of gab, StephenDare!, but you lack the gift of logic at times. :)
The simple truth that has become apparent to all thinking people is that the Obama administration does not have an answer to our economic problems. The huge, unsupervised and often politically motivated infusions of borrowed money have not generated the response from the economy that was promised. A lack of leadership and an apparent plan to continue record setting borrowing, despite warnings from the financial world and a lowering of the countries credit rating due to a lack of control over our own budgets, has left the electorate with a sobering view of reality. The very same reality that some apparently refuse to accept. Keep blaming the President from three years ago and a party that has not held congressional power in six years if that is what you need to do to keep your personal beliefs, but the rest of us prefer to keep our eyes open.
Keep drinking the kool aid StephenDare!, your delusions are quite entertaining! We need the amusement during these challenging times.
(This is usually where we get five or six youtube clips in a row!)
Quote from: stephendare on August 10, 2011, 11:27:47 AM
Do you think its logical to pretend that a debt that was accrued three years ago changes ownership with the passage of time?
Whats hilarious to me is that no matter how many of your ideas about the economy or politics blow up in your face, you still think your opinions should be weighed in the balance. Keep in mind that we are standing in the smoking ruins of holding the debt ceiling hostage so that you can throw old people out on the streets and keep young mothers from having a place to raise or educate their children. Despite what the entire world was predicting about the consequences of such brinksmanship, your tea party darlings did what you thought was the right thing to do and immediately the Credit of the United States of America was downgraded for the first time in its history, the stock market crashed, and the country is now headed into a second recession.
Thanks notnow.
If you are done doing grevious harm to our country, some of us would like to get back on track.
Really.........that false equivalency thing.........holding onto myths and failed policies and thinking you should still have a seat at the table is indeed what makes the US the laughing stock of the world.
Pure and destructive Ideology at its best!
Thank God we live in a country where we can express our differences, huh?
Quote from: stephendare on August 10, 2011, 12:08:27 PM
Quote from: NotNow on August 10, 2011, 12:05:40 PM
Thank God we live in a country where we can express our differences, huh?
On this, we definitely agree.
Sure we can express all we want but unfortunately in order to get anything done it takes lots and lots of money..in that....the rich have an unfair advantage.
DJI 10719.94 -519.83 (-4.62%) Aug 10 4:07pm ET
Teabaggers win!
Revolution and horror follow......America goes down in flames and everyone dies.
Vote Republican!
Kathy, Stephen... I confess.
I'm a Tea Bagger, and I caused the stock market to drop.
Bring on the guillotines!
NotNow-Save your breath. I have tried but Dare is an idiot and does not even understand basic economics. He is assuredly a govt worker as it is the only thing he is qualified to do.
Given proof you still stick your head in the sand. That is what makes you an idiot.
Quote from: stephendare on August 10, 2011, 06:21:37 PM
Quote from: Clem1029 on August 06, 2011, 08:43:06 PM
Quote from: stephendare on August 06, 2011, 08:34:37 PM
Quote from: Clem1029 on August 06, 2011, 08:25:47 PM
Quote from: stephendare on August 06, 2011, 07:25:36 PM
Quote from: Clem1029 on August 06, 2011, 07:20:38 PM
Say it with me boys and girls...
economic growth causes higher revenues.
It's safer to say that the S&P doesn't think this administration can actually cause any economic growth.
Remember, the number was $4 trillion - before the legislation the S&P said that $4 trillion in cuts was the minimum that would indicate the government had their stuff together. Instead, our petulant child-in-chief and Reid in the Senate stomped and pouted and refused the ONLY plan on the table that translated into $4 trillion in cuts.
The Tea Party advocated what the S&P required...everyone else completely failed. If the Senate and President got out of the way of Cut Cap and Balance and the Ryan budget, we'd still have our AAA rating today. It's pretty simple.
Clem.
Please show some proof that this harebrained trickle down theory has ever worked.
Tell you what...I'll waste my time explaining economics 101 to you if you can demonstrate where CCB and the Ryan budget depend on "trickle down" to meet their objective cuts to get to the $4 trillion.
Or...wait...are you actually objecting to the idea that growth would cause higher revenues without increasing taxes? I have to assume I'm misreading you here, because I expect you've taken basic math.
Clem.
You do know that if you cancel a trillion dollar tax cut, that you get that trillion dollars back in revenue, right?
And please, do, explain to me economics 101. From your own special point of view. Im sure its fascinating.
Wow...just wow. I always tried to give you the benefit of the doubt, but yeah...you've pretty well just demonstrated you operate on a plane completely outside of the real world.
Let me type slowly to break this down for you...if more people are working, more people are paying taxes. With me so far?
If more people are paying taxes, even at the exact same rate, government revenues will? Anyone? Anyone? Go up.
So growth policies that encourage employment will? Anyone? Anyone? Increase revenues.
And given this administration's atrocious record on employment, the S&P was right to expect there would be no increase in revenues.
I'm stunned that this is even remotely objectionable.
really you are as petulant as a four year old, Clem.
And at least as savvy, in my opinion.
Aside from your 'vaccuum' straw man. You have been heavily implying that tax cuts will cause higher employment, as demonstrated in the point above.
Now you seem to want to distance yourself from your own opinions.
Sounds cowardly to me, but hey, I agree with you. Tax Cuts do not create jobs nor do they stimulate the domestic economy.
Anatomy of a Dare post:
Begin with personal insults and/or attacks (remember, personal attacks are mad, mkay, unless you are Dare).
Follow that by backing off from the original position, and moving the goalposts to pretend he has a leg to stand on. (note the turn here...I request to be shown where I state that tax policy occurs in a vacuum, and instead of showing where I say it, the goalposts are moved to "heavily implying.").
Follow that will an obviously false and completely unprovable claim ("Now you seem to want to distance yourself from your own opinions." One can't distance themselves from an position that was never advocated. If you want to make this claim, you need to demonstrate where I held this position to begin with.).
End with a personal attack that makes it sound like like he has proven his point, while having offered nothing of substance to the discussion.
Dare, you never fail to entertain. Just keep spinning, Just keep spinning...