Wednesday, February 24, 2010

Obama's Health Care Plan and Conservative Ideas

  • From and other sources come some of the items on Obama's "new" health care plans for us all:
  • 1) Crack down on waste and fraud in Medicare
  • 2) Allow for abortions paid for by the government, on Indian reservations and at Community Centers, which will be funded with $11 Billion of our dollars (wherein there is no language disallowing these abortions).
  • 3)Close the “donut hole” for Medicare prescription drug beneficiaries.
  • Below are some of the other new taxes proposed in an effort to make the bill deficit-neutral.  The CBO cannot yet provide their estimate of cost because they don't have enough of the specifics.
  • Elimination of the Medicare Part D (prescription drug) deduction ($5.4 billion);
  • A tax on branded drugs ($22.2 billion);
  • An annual tax on the health insurers ($60.4 billion)
  • A 40 percent excise tax on "high value" health care ($149.1 billion in new taxes over the next 10 years); and joint earners over $250,000 ($53.8 billion);
  • Changes in health savings accounts (HSAs), ($5 billion);
  • A $2,500 cap on FSAs in cafeteria plans ($14.6 billion);
  • An increase from 10 percent to 20 percent in the penalty for early non-qualified HSA withdrawals ($1.3 billion);
  • A tax on companies that manufacture or import medical devices ($19.3 billion);
  • An increase in the floor of the medical expenses deduction from 7.5 percent of adjusted gross income to 10 percent, except for seniors, who will stay at 7.5 percent ($15.2 billion); 
  • [None of these taxes will result in higher prices for us consumers, right?]
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  • Charles Hurt of the NY Post writes: "Included in President Obama's latest stab at health-care reform released yesterday is one of the more astonishing admissions of political deception in recent memory. After months of swearing that his health legislation would lower the skyrocketing costs of insurance premiums, Obama finally acknowledged that actually it would not.
    So, instead, he has included a new provision that can simply outlaw premium increases his administration deems "unreasonable and unjustified." 
    While he's at it, Obama should go right ahead and outlaw unemployment. Then he could make foreclosures illegal. That would fix all our problems.
    Heck, if any problems remain in health care after he has jammed his bill through Congress before his co-conspirators get run out of town, Obama could just make sickness illegal."

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