As you know, I have already discussed how your coverage will change and how the level of care will drop if President Obama and congressional Democrats get their way and overhaul the nation’s healthcare system. Today, I’m discussing how much this substandard care will cost.
To put it mildly, the costs are absolutely gargantuan.
Ok, maybe that was not mildly, but it’s really the truth.
The overall price tag for this healthcare overhaul will be anywhere from $1.6-1.8 trillion over ten years.
I’ll pause so you can let that sink in a little.
As you think about that, please keep in mind that these are merely estimates and it could end up being far more expansive than just that. In fact, the Health Systems Innovations Network (a healthcare consulting firm) estimated the costs at a jaw-dropping $3.5 trillion over ten years.
Now, President Obama has assured us that any healthcare plan will not add to the deficit, but really, how is that possible? I mean, if members of Congress were so good at figuring out the healthcare industry, reducing costs and improving care, then what are they doing in
The truth is is that they do not possess any insight into the medical industry and they will not be able to control costs.
So the question is; how are we going to pay for this?
Well, that’s easy…higher taxes!
Yes, in order to pay for this massive healthcare overhaul, President Obama will need to go back on his promise of not raising taxes on 95% of Americans. Well, he will have to go back on his word again as he already has increased taxes on millions of Americans that smoke with higher cigarette taxes…and let’s not forget about “Cap and Trade” wither.
You can already see that they’re sending out trial balloons regarding middle class tax hikes. Treasury Secretary Geithner brought up the possibility of increasing the tax burden of the middle class on ABC’s This Week. While the White House quickly distanced themselves from Geithner’s position, it was clearly gauging the response to such a plan.
These taxes would be on top of the tax increases levied against the upper class already proposed by the House. The House’s healthcare plan calls for a 1% surtax on adjusted gross income (including capital gains) between $350,000 and $500,000, a 1.5% surtax on income between $500,000-$1 million and a 5.4% surtax on income exceeding $1 million.
This would unfairly shift the paycheck of healthcare reform to the wealthy and small businesses…the two main sources of true economic stimulation in a free market society.
It’s a good thing we’re not in a prolonged economic downturn as a move like this could turn a recession into a depression…oh wait, that’s right…we are in a prolonged economic downturn!
Smart move Congress!
So to briefly recap, President Obama and Congress may very well bankrupt the economy and critically injure it forever in order to change your healthcare coverage so you receive inferior care.
Forgive me if I’m not excited about this brand of change.
That’s all for now folks. Until next time, take care and be well.
-John
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