(CNSNews.com) – The health-care bill that the Senate Finance Committee will vote on today will cost a total of $829 billion over 10 years, with $507 billion of that cost being covered by new federal taxes and fees, according to the Congressional Budget Office (CBO).
On Oct. 7, the CBO released a report on the budget impact of the “chairman’s mark” summary of the bill that the Finance Committee is set to vote on today. Based on the document it was given, the CBO found that the bill would reduce the federal budget deficit by $81 billion over 10 years. That estimate was based on the calculation that, if enacted, the bill would bring in $480 billion in new tax revenues and $27 billion in fees.
These new taxes and fees include:
-- $201 billion in new taxes on high-premium health care plans.
-- $83 billion in new taxes paid by workers who will receive less employer-sponsored coverage or lose that coverage altogether but will be compensated with higher wages or monetary benefits, which are taxable.
-- $23 billion in penalty fees paid by employers who do not comply with the federal insurance mandate.
-- $4 billion in penalty fees paid by individuals who don’t have health insurance.
-- $16 billion in new income and Medicare payroll tax revenue due to changes in Medicare.
-- $180 billion in other tax revenues items calculated by the non-partisan Joint Committee on Taxation (JCT).
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5 comments:
How can we permit our government to mandate that we buy insurance?
With auto insurance, we can avoid the mandate (a state mandate, not a federal mandate) by not owning a vehicle.
However, the Federal Government has no "right" / "power" to mandate that we buy something.
This is a form of slavery.
As long as the american public continues to put democrats in office our taxes will continue to go up and the working person quality of life will continue to decline!
Health Care they will tax:
*a 'cadillac' plan.
* a modest plan that doesn't meet their criteria.
*lack of a plan.
Then they'll tax:
*employers
*medical devices & equipment
All to force subpar medical care on the citizenry & illegals by adding 50 million more enrollees and 60% fewer docs. (60% will retire if passes.)
Who wins? union membership and tort lawyers
The end result will be the government will fall, the ppl will win, not by the stroke of a pen but by the pull of a trigger.
It's pretty obvious to anyone with half a brain that this is just another tax and spend scheme. Unfortunately, they have dumbed the population down to the point where a large percentage don't have half a brain.
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