Thursday, June 30, 2011

ObamaCare v. Economic Recovery.....

In all likelihood, ObozoCare will flatten any economic recovery (if there is one.)

...The CBO report indicates that consumers could end up paying less directly to their insurers once the health insurance exchanges come into being in 2014, but it will be at the cost of more than $500 billion in new taxes, according to an ATR analysis...

Like what?

A $60.1 billion tax on health insurers that will begin in 2014.
  • A $20 billion tax on medical device manufacturers starting in January 2013.
  • An $86 billion hike in the Medicare payroll tax starting in January 2013.
  • A $123 billion surtax on investment income targeted at those earning more than $250,000 starting in January 2013, among others.
(One guess who will PAY the health-insurer tax and the med-device tax.)

We're not done. The State of Wisconsin will get hammered, too!!

States are being forced to confront burgeoning costs associated with the health care law’s mandate that their Medicaid plans cover all those earning 133% above the federal poverty level starting in 2014. This increased Medicaid caseload will be 100% subsidized by the federal government until 2016.

They also will be responsible for covering those who are currently eligible for, but not currently served by, Medicaid during the same time period. “Given the fiscal damage of the recession on state budgets, these additional costs may be difficult to absorb even a few years from now when implementation of the reform measures begin,” top credit-rating company Moody’s

For practical purposes, all the Act 10 savings will disappear beginning 2014.

Recovery? If there is one, it won't last long.


Humana- Walmart Part D said...

We should not rely heavily on Obama because definitely when he won the presidency, there was already a problem with Healthcare. And it is really hard for him to act on it in a very fast mode because he also has other issues to address. But still we compliment the effort he's giving to save the Healthcare program.

Dad29 said...

Oh, sure.

ObamaCare is, no doubt, THE solution.