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From all my investigating Obamacare will actually lower insurance costs for poor people like me. I make under 200% of the poverty level so I would be limited to paying 6.3% of my total income no matter what the policy costs. However, I think it will raise costs for everyone else. I personally think it needs to be repealed because it never is going to work in the long run.
The costs for this are so far reaching they will make your head spin. The big thing isn't what the federal government is going to pay for. No it will be the increased medicare burden on states and in premiums that people will have to pay SINCE THEY HAVE TO HAVE INSURANCE. Younger adults could very well see their insurance rates rise by 30% when the reform starts. So much for cutting costs, but that is what happens when you as a party sell your soul to lobbyists.
Exactly, I think when it's all said and done, the estimates the CBO gave will be not even close to the actual costs. The estimates are all based on the best case scenario....and that doesn't get explained enough when they announce the numbers they came up with. It assumed the cuts in payments to medicare providers (that have been delayed but, still adding up) will take effect....I think it's 21%. What I think is crazy, is the promise to find $500 billion in Medicare waste over the next ten years to fund UHC.....it's like saying, "trust me, don't worry the details, we'll find it all later.
The CBO has now restated its numbers. The plan will now add 150 billion to the deficit not cut the deficit. Hope and change, smoke and mirrors. Same thing!
$3.2 trillion. Thanks, Lord Barry. I wonder how that will play out in 2012 when it appears as though voters are most concerned with the economy and the debt?
Here's a summary of tax changes coming down the road.
Penalties on individuals. Individuals will pay a yearly penalty of $695, or up to 2.5 percent of their annual income, if they cannot show they have purchased a government-approved health policy.
Penalties on families. Families will pay a yearly penalty of $347 per child, up to $2,250 per family, if parents cannot show they have purchased a government- approved policy.
Penalties on employers. Business owners with more than 50 employees must buy government- acceptable health coverage or pay a yearly penalty of $2,000 per employee if at least one employee receives a tax credit.
Tax on investment income. ObamaCare imposes a 3.8 percent annual tax on investment income of individuals making $200,000 or more and on families making $250,000 or more. The new tax is not indexed to inflation, so more people will fall under it each year. Seniors on fixed incomes and people with IRAs and 401(k) plans will be hit particularly hard.
Tax on “Cadillac” health plans. Starting in 2018, imposes a 40 percent annual tax on health care plans valued at $10,200 for individuals and $27,500 for families.
Medicare tax increase. Requires single people earning $200,000 or more and couples earning $250,000 or more to pay an additional 0.9 percent in Medicare taxes.
Tax on Home Sales. Imposes a 3.8 percent tax on home sales and other real estate transactions. Middle-income people must pay the full tax even if they are “rich” for only one day – the day they sell their house and buy a new one.
Tax on medical aid devices. Creates a new 2.9 percent tax on medical aid devices. Certain items intended for personal use are exempt.
Tax on tanning. Imposes a 10 percent tax on services at tanning salons. Business owners will collect the tax from customers and send it to the federal government. This appears to be the first federal sales tax in the United States.
ObamaCare will be enforced by the Internal Revenue Service. The tax agency plans to hire 16,500 new auditors, agents and investigators, and to increase enforcement audits. The IRS can confiscate tax refunds, place liens on property and seek jail time if health-related penalties and taxes are not paid.
From all my investigating Obamacare will actually lower insurance costs for poor people like me. I make under 200% of the poverty level so I would be limited to paying 6.3% of my total income no matter what the policy costs. However, I think it will raise costs for everyone else. I personally think it needs to be repealed because it never is going to work in the long run.
Why should the rest of society pay your health care?
From all my investigating Obamacare will actually lower insurance costs for poor people like me. I make under 200% of the poverty level so I would be limited to paying 6.3% of my total income no matter what the policy costs. However, I think it will raise costs for everyone else. I personally think it needs to be repealed because it never is going to work in the long run.
No sweetie, it won't lower your insurance costs at all. The cost for your insurance is going up. Just because you don't pay it doesn't mean it costs less. Somebody else is going to pay the cost for you.
Why should the rest of society pay your health care?
Reread my quote. I just stated the facts and already said it is unfair to everyone else. I also said I want the law repealed. The current healthcare system is definitely broken, but Obamacare is not the answer.
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