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September 24, 2010
Obamacare Is Even Worse Than Critics Thought ~ We Have GOT To Stop Obamacare!!!!
Obamacare is even worse than critics thought
Six months ago, President Obama, Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi rammed Obamacare down the throats of an unwilling American public. Half a year removed from the unprecedented legislative chicanery and backroom dealing that characterized the bill's passage, we know much more about the bill than we did then.
A few of the revelations:
* Obamacare won't decrease health care costs for the government. According to Medicare's actuary, it will increase costs. The same is likely to happen for privately funded health care.
* As written, Obamacare covers elective abortions, contrary to Obama's promise that it wouldn't. This means that tax dollars will be used to pay for a procedure millions of Americans across the political spectrum view as immoral. Supposedly, the Department of Health and Human Services will bar abortion coverage with new regulations but these will likely be tied up for years in litigation, and in the end may not survive the court challenge.
* Obamacare won't allow employees or most small businesses to keep the coverage they have and like. By Obama's estimates, as many as 69 percent of employees, 80 percent of small businesses, and 64 percent of large businesses will be forced to change coverage, probably to more expensive plans.
* Obamacare will increase insurance premiums -- in some places, it already has. Insurers, suddenly forced to cover clients' children until age 26, have little choice but to raise premiums, and they attribute to Obamacare's mandates a 1 to 9 percent increase. Obama's only method of preventing massive rate increases so far has been to threaten insurers.
* Obamacare will force seasonal employers -- especially the ski and amusement park industries -- to pay huge fines, cut hours, or lay off employees.
* Obamacare forces states to guarantee not only payment but also treatment for indigent Medicaid patients. With many doctors now refusing to take Medicaid (because they lose money doing so), cash-strapped states could be sued and ordered to increase reimbursement rates beyond their means.
* Obamacare imposes a huge nonmedical tax compliance burden on small business. It will require them to mail IRS 1099 tax forms to every vendor from whom they make purchases of more than $600 in a year, with duplicate forms going to the Internal Revenue Service. Like so much else in the 2,500-page bill, our senators and representatives were apparently unaware of this when they passed the measure.
* Obamacare allows the IRS to confiscate part or all of your tax refund if you do not purchase a qualified insurance plan. The bill funds 16,000 new IRS agents to make sure Americans stay in line.
If you wonder why so many American voters are angry, and no longer give Obama the benefit of the doubt on a variety of issues, you need look no further than Obamacare, whose birthday gift to America might just be a GOP congressional majority
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The Obamacare and Obama Tax Hike Double Whammy on Seniors
No demographic was more opposed to Obamacare’s passage and no group wants to see the law repealed more than America’s seniors. They know that Obamacare used Medicare as a piggy bank to transfer half a trillion dollars out of Medicare, not to shore up Medicare’s solvency, but to spend on a new government program. As if that were not enough, now President Barack Obama wants to raise taxes on the dividend payments that millions of seniors depend on for their livelihood. American seniors are beginning to wonder when they’ll stop being target #1 of President Obama’s economy-crushing policies.
Obamacare’s Impact on Seniors:
Obama repeatedly promised Americans that if they liked their current health plan, they could keep it. But as Heritage analyst Robert Book and Ethics and Public Policy Center fellow James Capretta detail in their new analysis of Reductions in Medicare Advantage Payments, that is demonstrably not true for millions of senior citizens. Medicare Advantage (MA) plans are the private insurance options available to Medicare beneficiaries. In 2006 (the latest figures available), Medicare covered only 59 percent of traditional beneficiary health care expenses. Ninety-one percent of all Medicare beneficiaries have some sort of supplemental coverage. Obamacare is going to change all that.
The new law imposes deep cuts in the payment rates for MA plans, beginning with a payment freeze in 2011. In addition, the other indiscriminate payment cuts to hospitals and health care providers will also get passed on to MA plans as well. Book and Capretta calculate that the average nationwide per capita reduction in the value of coverage for MA and would-be MA enrollees will total about $3,700 annually by 2017, or a nearly 27 percent cut from what would have occurred without the new law. Faced with these cuts, MA plans will be forced to raise premiums, reduce benefits or leave the market entirely. The President’s own Medicare chief actuary estimated that the number of seniors with MA plans will drop from 10 million today to just 7.4 million in 2017.
The Obama Tax Hikes’ Impact on Seniors:
The top tax rates on qualified dividends are scheduled to jump from 15 percent to 39.6 percent on January 1, 2011. The left will claim that these tax hikes will only soak the rich while lower-income Americans will enjoy a free ride. This is false. Higher taxes on dividends will reduce the value of all corporate stocks traded in U.S. markets, regardless of who owns them. According to some estimates, the tax hike on dividends would cause stock prices to drop by more than $211 billion. The reduction in share values would happen almost immediately at the beginning of 2011, or whenever Congress makes clear it will allow the rate to rise. Seniors hold the most stock of any demographic group, so the Obama tax hike is a direct assault on the retirement security of millions of Americans.
And that’s not all. Millions of seniors also rely heavily on dividends to supplement their Social Security income. And when dividend payments are taxed at a much higher rate than capital gains (as they would be after the Obama Tax Hikes), companies that return value to shareholders by paying dividends are penalized. As Heritage fellows Rea Hederman and Patrick Tyrrell detail, companies will therefore pay out less in dividends. Retirees who rely on dividend income from stocks will then see their annual income decline. For tax year 2010, seniors are almost twice as likely to report dividend income on their tax returns as any other demographic group. Low-income households are also more likely to own dividend-paying stocks than high-income households. They will all be victims of the Obama Tax Hikes.
The imminent threat to senior citizen’s health care will only be resolved once Obamacare is repealed. And the only way to protect senior’s retirement savings is to reject the Obama Tax Hikes.
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Obamacare law’s heavy impact
ObamaCare will impose a 3.8% tax on all home sales and other real estate transactions, not just on families making more than $250,000 a year — which was what Obama famously promised during the ’08 presidential campaign.
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Wild Thing's comment.......
Only a pathetic complete moron would think this was ever a good idea.
If we don’t stop Obamacare and stop it soon, it will get to the point that it will be to late. They want a single payer system and force insurance companies out of business. When that happens, there will be no health care at all. If the insurance companies go out of business, how long will it take to rebuild them? With no health insurance available to the public, there will be no hospitals or doctors. They couldn’t afford to stay in business and the general public couldn’t afford the cost. The worst of the worst I realize that , but it is something I have been thinking about.
It's a far reaching law that was created in a short time, in a vacuum of those affected, pushed by an administration without bipartisan support, put out as law without having time for anyone outside of the political realm to digest and really understand what the implications are and signed into law with 71% of the people opposed to it. The real deals were made behind closed doors by those that stated they will be more transparent.
This CANNOT end good. Decisions of massive, near epic economic proportions were made based on “feelings” and “ideology” and in a vacuum of -ALL- the real stake holders, to include those paying for this (Business and the insured). The law is huge in what it will affect (The insured, insurances, Businesses, pharamcueticle/medical companies, doctors, hospitals......) and what it will cost, but little time was put into actually thinking everything through and what the second order and tertiary effects will be.
Over time this will turn into a mess.
And that tax that is added for Obamacare if a person sells their home a tax on the sale of our homes has NOTHING to do with health care!
....Thank you Mark for sending this to me.
Mark
3rd Mar.Div. 1st Battalion 9th Marine Regiment
1/9 Marines aka The Walking Dead
VN 66-67
Posted by Wild Thing at September 24, 2010 04:50 AM
Comments
This is all to do with the Great Scam of Global Governance via the UN. obama don't care what we thikn, he's more concerned about getting a seat on the Global Government, the people of the US would be another Third world country.
The first thing he had to do was defeat our Free Market economy which he is doing. Thank God there is an election nearby, we can possibly slow this down or stop it...If that doesn't work then the alternative is even worse.
Posted by: Mark at September 24, 2010 07:23 AM
That's right, Chrissie, only a complete moron would try to pass this through...thank you for posting all of this. There are so many folks catching on now, that we have great resources and data to pass along at our finger tips. You are the greatest!!! ;O)
Posted by: jan at September 24, 2010 07:35 AM
The first line of your comment reminds me of Pelosi.
This does serve the unintended consequence of galvanizing the tea party. Too bad they didn't think that through, hehe. They really are pathetic morons.
Posted by: Jim at September 24, 2010 10:40 AM
Thank you Mark, Jan and Jim. This obamacare really worries me, I hate what he is doing to our country. We knew what he would do but something inside me had hoped he could be stopped, maybe by the Supreme Court telling him it is against the Constitution. deep sigh
Posted by: Wild Thing at September 25, 2010 04:28 AM
