WASHINGTON -- House Democratic leaders, pledging to meet the president's goal of health care legislation before their August break, are offering a $1.5 trillion plan that for the first time would make health care a right and a responsibility for all Americans. Left to pick up most of the tab were medical providers, employers and the wealthy.
Under the House Democrats' plan, the federal government would be responsible for ensuring that every person, regardless of income or the state of their health, has access to an affordable insurance plan. Individuals and employers would have new obligations to get coverage, or face hefty penalties.
The legislation calls for a 5.4 percent tax increase on individuals making more than $1 million a year, with a gradual tax beginning at $280,000 for individuals. Employers who don't provide coverage would be hit with a penalty equal to 8 percent of workers' wages, with an exemption for small businesses. Individuals who decline an offer of affordable coverage would pay 2.5 percent of their incomes as a penalty, up to the average cost of a health insurance plan.
The liberal-leaning plan lacked figures on total costs, but a House Democratic aide said the total bill would add up to about $1.5 trillion over 10 years. The aide spoke on condition of anonymity to discuss the private calculations.
Three House committees will begin voting on the bill Thursday. Changes in the legislation are likely to satisfy a group of moderate and conservative Democrats who are withholding support.
The 1,000-page bill is unlikely to attract any Republican backing, and business groups and the insurance industry immediately assailed it as a job-killer.
The business groups also warned that the U.S. health care system could be damaged by adding a government-run insurance plan and a federal council that would make some decisions on benefits, as called for in the legislation. Thirty-one organizations signed the letter, including the U.S. Chamber of Commerce, the Business Roundtable representing top corporate CEOs and the National Retail Federation.
So much for keep the budget in check. It went form 700 billion to 1 trillion which Obama complained was a number that his opponets were just throwing out there to try and make him look bad. So in the spirit of hope and change, they turned it in to 1.5 trillion. Where does this end?
I also love the part that if a millionaire, who can afford to pay for care out of pocket, doen't want Obama Cross/ Obama Shield will be assesed and additional tax of 2.5 percent on top of the 8 percent they will already be at.
So now the government is taking an additional 1.5 trillion over ten years out of the economy and cap and trade is still out there too. That is shaping up like another 1.5 to 2 trillion over ten years out of the economy. That is almost 3 pecent of GDP on top of the taxes the government already consumes which is currently 25.4 percent. 25 cents of every dollar spent in commerce ends up at the government already and they want more. And for what, so the federal government will have more power for itself and to completely violate the 10th amendment.
The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.
When the Heritage Foundation did its analysis of Waxman-Markey, it broadly compared the economy with and without the carbon tax. Under this more comprehensive scenario, it found Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 for a family of four. As the bill's restrictions kick in, that number rises to $6,800 for a family of four by 2035.
Who much money can these clowns pull out of an economy for them to spend on the wonderfully efficent and needed government spending and not cause any harm to the country. These clowns want us to change our way of life to meet the rest of the world, why? If you want the answer, start following the money. How does each member of congress who is pushing the bill, make money of of it. And after you look for yourself, most importantly, vote.
Helathcare Some More Changes from Obama
Member #: 61931
Registered: 9/16/2008
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