Health Care Weighs In at 2074 Pages!
Congratulations Sen. Reid, it’s a 2074 page Health Care Bill! Here are the Fun Facts:
Spending: The cost of the bill is $2.5 trillion over 10 years of full implementation (2014-2023).
Taxes Increases: Taxes will go up $493.6 billion—nearly half a trillion dollars.
Medicare Cuts: Medicare will be cut $464.6 billion—another half a trillion dollars.
Public Option: The bill includes a government run plan and provides states with the possibility of opting out of participating in that plan. According to CBO, the government run plan “would typically have premiums that were somewhat higher than the average premiums for the private plans in the exchanges.
Employer Mandate: The bill will impose $28 billion in new taxes on employers that do not provide government approved health plans at a time when businesses are still cutting workers.
Bottom Line: Should this bill become law in its current form, it will be a short term, medium term, and long term negative for the US economy and the US dollar. It fails to reduce costs and it increases the government role in 17% of the economy.
Tags: employer mandate, health care bill, Medicare, public option, Sen. Reid