Under the plan, most of the costs are financed by supposed savings in Medicare spending and the like (e.g. some small Medicaid savings). A small amount is financed by penalties imposed on uninsured individuals, a small amount by penalties imposed on employers, some by the tax on Cadillac plans, some by the the increased payroll taxes on higher incomes, some by taxes on medical devices and the like. But, the biggest portion of it still comes from the Medicare savings that have been decreed as forthcoming.
Fair enough, but most of the new taxation won't apply directly to most people. Also, the increases in Medicare payroll taxes don't kick in until 2013.
Huh?? Cutting $500B in Medicare! Raising taxes by $500B! and this is not all of it. This will end up costing us $2.5T-$3.5T in this first 10 years. The delay in tax collection will only be compounded (literally) through interest payments on debt.
Don't misunderstand, this will effect ALL of us; either is payroll taxes, at the pumps, grocery stores, buying or selling homes and properties, restaurants, buying or selling cars, stock trades, capital gains, and every other thing that involves a transaction of any kind. By 2020, your comprehensive taxes and fees will double, which results in a 25% - 50% reduction in disposable income.
Morally, everyone should have access to health care - and they do. But this is fiscally irresponsible. The Dems deflected their failures in commerce development, job development, and overall economic stimulus and leveraged those failures to health care. All of their "poster child" examples started of with..."so and so LOST THEIR JOBS and lost their insurance..." The deflection is not addressing the cause, but the result.
This is a sad, sad day as it is another boost on our journey to a true Socialist Republic. Hopefully, the States can be successful in their fight on the constitutionality of this Obamination - AND we can get rid of Hoyer this November.