Dems health care bill: Jobs killer

Yesterday the White House held a jobs summit, which was a phony one in my opinion.
The Democrats' policies are preventing jobs growth, the threat of cap and trade legislation, the so-called Employee Free Choice Act, and of course the possibility of a government-run health care program are among the inhibitors.

The Senate Republican Communications Committee takes a look at the last one:

Dem Health Bill Drops Billions And Billions In Taxes, Fees, & Mandates On Job Creators

Mandates In Health Bill Are "Likely To Reduce Employment"

“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)

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

CBO: “Firms with more than 50 workers that did mot 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)

CBO: “Requiring employers to offer health insurance—or pay a fee if they do not—is likely to reduce employment…” (“Effects Of Changes To The Health Insurance System On Labor Markets,” CBO, 7/14/09)

$54 Billion Medicare Payroll Tax Increase: Half Paid Directly By Businesses

“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)

“Economists and politicians pointed out several possible objections to Mr. Reid’s proposal. It does nothing to slow the growth of health spending, as the tax on high-cost insurance would. And, as the Congressional Budget Office pointed out recently, ‘Higher Tax Rates On Earnings Reduce People’s Incentive To Work.’” (“Reid Mulls Medicare Tax Increase For High Earners,” The New York Times, 11/13/09)

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)

CBO: “The legislation would impose several new fees on firms in the health sector. New fees would be imposed on providers of health insurance and on manufacturers and importers of medical devices. Both of those fees would be largely passed through to consumers in the form of higher premiums for private coverage. … since large firms are more likely to self-insure, that fee would result in smaller percentage increases in average premiums for large firms than it would for small firms and for nongroup coverage.” (CBO Director Douglas Elmendorf, Letter To Sen. Bayh, P. 15-16, 11/30/09)

$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)

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