Thursday, November 19, 2009

ObamaCare: Not reform, but a half trillion in higher taxes

A 10 hour debate on the Senate's version $848 billion of ObamaCare on Saturday. Senate Majority Leader Harry Reid (D-NV) gets 60 votes that evening, it will move forward government-run health care, which polls say most Americans don't want. The Senate Republicans say that means higher taxes and more:

A Half Trillion Dollars In Higher Taxes? That's Not Reform

Higher Taxes On Individuals, Businesses, Various Health Care Industries, Hospices And More


$36 BILLION IN NEW TAXES & FINES LEVIED ON INDIVIDUALS AND BUSINESSES

"Penalty Payments By Employers And Uninsured Individuals… 2010-2019… 36 [Billion Dollars]." (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 11/18/09, P. 6)

INDIVIDUALS WITHOUT INSURANCE FINED UP TO $750, FAMILES UP TO $2,250

"A Person Without Insurance Could Be Required To Pay A Financial Penalty, Starting At $95 In 2014 And Rising To $750 In 2016, With A Maximum Of $2,250 For A Family." ("Senate Health Plan Seeks To Add Coverage To 31 Million," The New York Times, 11/19/09)

COMPANIES THAT DON'T PROVIDE INSURANCE FINED $750 PER WORKER

"Firms With More Than 50 Workers That Did Not Offer Coverage Would Have To Pay A Penalty Of $750 For Each Full-Time Worker If Any Of Their Workers Obtained Subsidized Coverage Through The Insurance Exchanges; That Dollar Amount Would Be Indexed." (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 11/18/09, P. 7)

$149 BILLION TAX INCREASE ON PRIVATE HEALTH INSURANCE PLANS

"Excise Tax On High-Premium Plans… 2010-2019… 149 [Billion Dollars]." (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 11/18/09, P. 6)

"Reid's Version Of The Cadillac Tax Is Scaled Back From The Version In The Senate Finance Committee, Which Drew The Ire Of Labor Unions, A Key Democratic Constituency, which said it would affect middle-income workers." ("Reid Unveils Broad Senate Healthcare Plan," Reuters, 11/19/09)

$54 BILLION MEDICARE PAYROLL TAX INCREASE

"Senate Democratic Aides Said The Payroll Tax Increase Would Raise $54 Billion Over 10 Years." "Senate Health Plan Seeks To Add Coverage To 31 Million," The New York Times, 11/19/09)

"Under Current Law, Employers And Employees Each Pay A Tax Equal To 1.45 Percent Of Wages. Mr. Reid Would Increase The Rate To 1.95 Percent For Individuals With Annual Incomes Over $200,000 And Couples Over $250,000." ("Senate Health Plan Seeks To Add Coverage To 31 Million," The New York Times, 11/19/09)

MORE THAN $100 BILLION IN TAXES & FEES ON THE HEALTH CARE INDUSTRY

"Fees On Certain Manufacturers And Insurers… 2010-2019… 102 [Billion Dollars]." (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 11/18/09, P. 6)

"The Medical Device Tax Has Been Cut In Half To $2 Billion Annually To Appease Minnesota, Indiana And Massachusetts Senators." ("Reid Releases $849b Bill, Initial Vote Expected Saturday," Congress Daily, 11/19/09)

"A Fee On Insurers Remained At $6 Billion A Year As Well As A Fee On Drugmakers At $2 Billion Annually." ("Reid Releases $849b Bill, Initial Vote Expected Saturday," Congress Daily, 11/19/09)

$54 BILLION "HOSPITAL INSURANCE TAX"

"Additional Hospital Insurance Tax… 2010-2019… 54 [Billion Dollars]." (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 11/18/09, P. 6)

$5 BILLION FROM A 5% TAX ON ELECTIVE MEDICAL COSMETIC PROCEDURES

"Desperately Seeking Money To Pay For The Legislation, Mr. Reid Came Up With A New Source Of Financing: A 5 Percent Tax On Elective Cosmetic Medical Procedures. The tax would be paid by patients, but collected by doctors and clinics and forwarded to the government. The tax would be calculated as 5 percent of the amount paid for an elective cosmetic procedure, whether by the patient, insurance or other sources." ("Senate Health Plan Seeks To Add Coverage To 31 Million," The New York Times, 11/19/09)

AND MORE…

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