Monday, March 22, 2010

"It’s NOT a Health Bill, NOT a Medicare Tax and It Can’t Possibly Cost Only $940 Billion..."

Alan Reynolds at the CATO Institute:
* The “reconciliation bill” is not a “health bill” but an anti-health bill. It relies heavily on price controls, taxes and fines to punish doctors, hospitals and formerly innovative companies the produce prescription drugs and medical devices. If we treated farmers, food companies and grocery stores the way Congress threatens to treat the health industries would anybody expect food to become better or cheaper?
* The 3.8% tax on both labor and investment income is not a “Medicare tax.” It’s surtax on income that goes into the slush fund, not the Medicare trust.
* The bill could not possibly cost “only” $940 billion unless it contained a sunset provision — repealing the law after 2019.

In fact, new spending is negligible for four years. At that point the government would start luring sixteen million more people into Medicaid’s leaky gravy train, and start handing out subsidies to families earning up to $88,000. Spending then jumps from $54 billion in 2014 to $216 billion in 2019. That’s just the beginning....
If you aren't angry enough yet, read it all.

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