Posted tagged ‘health care reform’

New Health Care Bill Has a Tax for Everyone

October 30, 2009

From HotAir:

Americans for Tax Reform has culled the 1990-page Pelosi health-care overhaul bill to find the taxes that will supposedly collect over $540 billion in revenue over 10 years.  It’s quite an impressive list of new burdens on Americans and their health-care providers and producers — but that’s redundant.  After all, who do you think will end up paying for the medical-device taxes?  It won’t be insurers or doctors:

  • Employer Mandate Excise Tax (Page 275): If an employer does not pay 72.5 percent of a single employee’s health premium (65 percent of a family employee), the employer must pay an excise tax equal to 8 percent of average wages.  Small employers (measured by payroll size) have smaller payroll tax rates of 0 percent (<$500,000), 2 percent ($500,000-$585,000), 4 percent ($585,000-$670,000), and 6 percent ($670,000-$750,000).
  • Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5 percent of modified adjusted gross income (MAGI) or the average premium.  MAGI adds back in the foreign earned income exclusion and municipal bond interest.
  • Medicine Cabinet Tax (Page 324)
  • Cap on FSAs (Page 325)
  • Increased Additional Tax on Non-Qualified HSA Distributions (Page 326)
  • Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327)
  • Surtax on Individuals and Small Businesses (Page 336)
  • Excise Tax on Medical Devices (Page 339)
  • Corporate 1099-MISC Information Reporting (Page 344)
  • Delay in Worldwide Allocation of Interest (Page 345)
  • Limitation on Tax Treaty Benefits for Certain Payments (Page 346)
  • Codification of the “Economic Substance Doctrine” (Page 349)
  • Application of “More Likely Than Not” Rule (Page 357)

See the ATR post for detailed descriptions of each new tax. 

The Great Recession is Over!

October 29, 2009

celebrationThird quarter GDP is up 3.5%!

The media and the federal government today are reporting the Great Recession is over(maybe, sort of).

Never mind that the bulk of that growth came from Cash for Clunkers (which cost taxpayers $24,000 per vehicle). Never mind that the numbers of jobs “saved or created” by Obama’s stimulus was overstated by the White House. The recession is over!

More house buying credits for everyone! Even four-year olds! Go for it – the IRS doesn’t require you to prove you actually bought a house (shhhh).

And hey, while we’re at it – how about “free” health insurance for everybody! Read all about it here – only 1990 pages long!

So come on, people – let’s celebrate! The good times are rolling again!

Calling the Obamacare Line

October 28, 2009

Fact-Checking the Obama Health Speech

September 10, 2009

o-youlieReason magazine editor-in-chief Matt Welch has the best post-speech fact-check I’ve seen so far. Going beyond just the basic true/false of what Obama said about the (nonexistant) health reform plan, Welch takes measure of the president’s character and how willing we should be to trust his promises.

 

A brief excerpt:

Again and again last night, the president’s numbers didn’t add up. “There may be those—particularly the young and healthy—who still want to take the risk and go without coverage,” he warned, in a passage defending compulsory insurance. “The problem is, such irresponsible behavior costs all the rest of us money. If there are affordable options and people still don’t sign up for health insurance, it means we pay for those people’s expensive emergency room visits.” No, it means that, on balance, the healthy young don’t pay for the unhealthy old. The whole point of forcing vigorous youth to buy insurance is using their cash and good actuarials to bring down the costs of covering the less fortunate.

Such fudges reveal a politician who, for whatever reason, feels like he can’t be honest about the real-world costs of expanding health care. “Add it all up, and the plan I’m proposing will cost around $900 billion over ten years,” he said, trying hard to sound like those numbers weren’t pulled out of Joe Biden’s pants, and won’t be dwarfed by actual costs within a year or two. “We’ve estimated that most of this plan can be paid for by finding savings within the existing health care system–a system that is currently full of waste and abuse,” he said, making him at least the eighth consecutive president to vaguely promise cutting Medicare “waste” (a promise, it should be added, that could theoretically be fulfilled without drastically overhauling the health care system). Any government-run “public option,” he claimed, somehow “won’t be” subsidized by taxpayers, but instead would “be self-sufficient and rely on the premiums it collects.”

Read the rest

Over 18,000 Attend Protest Event in Cinncinnati

September 5, 2009

cincinnatirally090409-600x450Issues, not politics, is their cup of Tea
An estimated 18,000 attend event at Voice of America Park in West Cherster Twp

Some were clad in colonial-era costumes. Some hoisted signs or waved American flags. But the thousands who filled the lawn in front of the National Voice of America Museum of Broadcasting on Saturday afternoon, Sept. 5, were consistent in their passionate plea for change.

Whether it was health care reform, a country at war, education, government bailouts, the national debt or Congressional term limits, it was the issues — not politicians — that took center stage at the rally hosted by the Cincinnati Tea Party.

The crowd continued to grow throughout the afternoon, and an estimated 18,000 people had come together at the event’s peak, according to Butler County Sheriff Richard K. Jones.

Jones said the crowd Saturday nearly doubled that of the Tea Party’s event he witnessed in Columbus, which drew an estimated 10,000 people to the state’s capital in April.

Saturday’s rally drew people from all over the region, many to view the day’s highly anticipated town hall-style forum featuring U.S. Reps. Jean Schmidt and Michael Turner, Ohio gubernatorial candidate John Kasich and House Minority Leader John Boehner, R-West Chester Twp.

“It was college football’s opening day, and we were looking at some serious competition,” said Chris Littleton, director of the Tea Party’s Community Groups, which include West Chester and Liberty townships, Monroe and Fairfield. “These people came out to talk about their personal liberties being taken away instead. That’s crazy. It’s bizarre.

“People are engaged and (the movement) is going to continue to gather steam and momentum,” Littleton said. “People are engaged and saying, ‘I’m going to make my voice heard, I’m going to be politically active.’”

Continue reading

Repeating – It’s All About the Money

August 24, 2009

This just in from The Business Insider

Healthcare Bill Includes $10 Billion Earmarked For Union Retirees

Based on this Detroit News report, it sounds like at least one healthcare reform bill includes a big fat gift to the UAW:

The United Auto Workers is urging its members to back efforts in Congress to reform health care coverage, citing a provision that includes $10 billion to defray the medical costs of union members and others in reitrees.

The bill, approved by a House committee late last month, includes Section 164, a reinsurance program for retirees, according to a summary of the bill from House Speaker Nancy Pelosi’s office. It sets aside $10 billion to establish a temporary reinsurance program to provide reimbursement to participating employment-based plans for part of the cost of providing health benefits to retirees age 55-64 and their families. A Senate version has nearly identical language.

The UAW says the language doesn’t just apply to the UAW, but also to steelworkers and muni unions. As political favors go, that makes it a little more palatable. Still, stories like this don’t help reform efforts, since opponents can latch onto them and blow them all out of proportion, even if $10 billion is pretty tiny by the standards of the healthcare system.

And that, boys and girls, is the Chicago Way.

Town Hall Meeting with U.S. Congressman Brian Baird

August 24, 2009

Thirteen O’Clock salutes David Hedrick’s courage in standing up and speaking for liberty.