Health Care Bill Impact on Economy
The house health care bill passed by a slim margin. I am all for health care reform, but am against the increased government spending, control, and intrusion. I’m amazed how supporters can claim that it’s “budget neutral” and it the next sentence say it costs $1.3 Trillion dollars. If it were truly “neutral”, there would be offsetting reductions in spending (I bet they never even thought of that). Government already controls about half of the health care spending through: Medicaid, Medicare, VA, and government worker health insurance. If government competition is so good, and they already control half the market, why do we have a problem? Taking control from big insurance and giving it to big government is not what we need. We need reform that gives control and responsibility to patients.
What will the true economic impact of this additional spending and control? Our economy is already hurting and this bill will add up to 10.5 percent to payroll costs (8% penalty for businesses and 2.5% penalty for individuals). I have watched many friends, family members, and colleagues lose their jobs to outsourcing and insourcing (bringing foreign workers into the US). There are many financial incentives for businesses to do this. Adding an additional 10.5% to payroll costs will only increase these incentives.
Our economy can not afford to lose any more jobs!
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