Friday, August 21, 2009

Health Care Bill Facts

Here's just a couple of little facts about the 1k+ page bill that most of our lawmakers haven't even read:

1 The bill will cost the average person $460 more in premiums each year.1

2 As many as 114 million Americans may lose their current coverage if the bill passes.2

3 Up to 5.5 million jobs may be lost, according to a model developed by President Obama’s own chief economic advisor.3

4 While the Congressional Budget Office claims the bill will cost $1.28 trillion, it will actually cost $9.2 trillion over the next 75 years.4

5 The bill contains $820 billion in tax increases, the largest tax increase in history.5

6 Companies that do not provide their employees with a government-approved health insurance plan will be taxed at 8%, forcing many employers to drop coverage for their employees.6

7 Individuals that do not obtain a government-approved health insurance plan will be taxed an additional 2.5% of their income, or $1,000 for every $40,000 they earn.7

8 After increased income taxes on those making $350,000 or more, the top tax rate in 39 states will be more than 50%; the highest wage earners in New York will be taxed at 58%, more than any country in the world, including Sweden.8

9 A family of four with an income of $88,200 will qualify for taxpayer-funded subsidies.9

10 Even after the plan takes effect, 34% of the estimated uninsured will still lack coverage.10

This analysis is not designed to endorse or oppose this or any other proposed legislation. Its sole purpose is to discuss the bill’s components in the context of the Center’s research into the topic. The statistics cited herein are current as of August 19, 2009, but are subject to change due to amendments made to H.R. 3200.

1 Robert E. Moffit, Ph.D., “The House Health Care Bill: A Blueprint for Federal Control,” Heritage Foundation.
2 “Analysis of the July 15 draft of The American Affordable Health Choices Act of 2009,” The Lewin Group.
3 Rep. John Boehner & Gov. Tim Pawlenty, “Capital Malpractice: How the Washington Takeover of Healthcare Will Hurt States,” p. 5.
4 “Financing Health Care Expansion with ‘Surtaxes’ on High Incomes,” Joint Congressional Economic Committee. July 20, 2009.
5 Chuck Blahous, “Plan still $820 billion above target,”, July 29, 2009.
6 H.R. 3200, 111th Cong. § 412.
7 H.R. 3200, 111th Cong. § 401.
8 “If Health Surtax is 5.4 Percent, Taxpayers in 39 States Would Pay a Top Tax Rate Over 50%,” Tax Foundation, July 2009, No. 178.
9 H.R. 3200, 111th Cong.
10 Lewin study.

This is courtesy of the Tennessee Center for Policy Research. This is the real "inconvenient" truth that the left ignores.

Put as much lipstick on this pig as you want, it will still stink. Our fat, bloated government has a sick sort of Midas Touch; everything it touches turns to crap, and health care will be no different. Just look at medicare, medicaid, USPS, Social Security, and any other program that they've messed with over the years. You can't deny it, no matter how loudly you shout, "hope and change." Wanting something very badly won't make it so.

The actual bill (HR 3200) can be read here: click link to read the bill

Facts and link to TCPR shamelessly stolen from Ol' Broad.

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