Speaker Pelosi said famously two years ago that we need to pass Obamacare, “so we can find out what’s really in the (2000-page) bill.”
Well, lawyers have since added another 15,000 pages to the original document, and we still don’t know what’s in the bill.
Worse yet, we don’t like it – not even Democrats like it! It will take $2/hour from the average wages of all workers. It’s about as regressive a tax as you can get. Young adults, with an average annual medical bill of $700, will pay $5000 a year in premiums.
Big business sure doesn’t like Obamacare. The Health and Human Services (HHS) Department has issued thousands of Obamacare waivers to large companies. Entire states have asked for a waiver. I’d guess that hundreds of thousands of applications have been turned down by the pencil pushers at HHS.
The medical device industry doesn’t like Obamacare. Dems are increasingly calling for the repeal of the medical device excise tax. This was one of the prime ways to pay for Obamacare. Turns out it imposes a 3.5% tax on an entire industry which averages only a 2% profit.
It doesn’t take a valedictorian to see how that spells disaster.
Democrats are twisted in knots over Obama’s obsessive compulsion to impose higher tax rates on the wealthy. Obamacare already does that!
Obamacare adds a flat 3.8% increase on their primary source of income, investments; PLUS a THIRTY PERCENT increase in taxes on dividends, which amount to roughly half of all investment income.
HHS has recently announced an annual $300 to $500 “user fee” per family on everybody who lives in one of the 23 states that aren’t setting up their own health insurance exchanges. Red states.
Then there’s Obamacare’s built in tax on health insurers, its tax on comprehensive “Cadillac” health insurance plans, its tax on innovative drug companies, its tax on high medical bills, its “special needs kids” tax, its tax on charitable hospitals, its new Blue Cross/Blue shield tax, and its tax on early Health Savings Account withdrawal…
All these taxes behave exactly the same way as the 3.4% medical excise tax – it sucks away profits to the point of making whole industries unprofitable.
If people had the time to investigate and understand all of these new taxes, they would each be perceived just as badly as the medical device tax.
Thus the rush to “solve” the fiscal cliff problem.
