How Would YOU Pay For The Health Care Bill? Choose Your Poison.

Senators and Representatives have been fashioning different health care bills; all of which the country cannot afford.  They have come up with various ways to pay for it.  Which one do you like?

  • There’s the payroll tax on small businesses of 8% if they don’t cover their employees.  The problem here is that this is a jobs killer and we really need jobs right now!
  • There’s the let’s tax millionaires strategy.  The trouble with this is that millionaires are pretty good at finding loop holes to not pay taxes.  This would also inhibit investing and we could really use the cash flow in the economy right now.  The other problem with this is that people with that kind of wealth already pay the lion’s share of tax revenues in our country and it’s not going to bring in enough extra revenue to pay for any of the proposed plans.  In fact tax revenues might actually fall if we keep raising taxes on that group! (See the Laffer Curve)
  • Then there’s the punish individuals with a fine and possible jail time if they don’t buy health insurance.  The problem with this is that it’s very unconstitutional.  Besides, would you really stomach enforcing this draconian measure?
  • Then there’s the idea to find savings in Medicare and Medicaid by reducing fraud and waste.  This one cracks me up.  They haven’t been able to identify how much there is, where it is, or how they would find this money.  And even if they did find it, it wouldn’t be nearly enough.  Here’s an idea-find the savings and the fraud and put it towards Medicare so that it doesn’t go broke in 2017!
  • Then there’s the let’s pass the cost on to the states idea.  That way, we can say that we aren’t raising taxes to pay for it.  O.k., so now your state income tax will need to be raised significantly at a time when nobody can afford to pay more in taxes.

I’m sure that there are other types of fees and tax ideas that I’m missing, but you get the idea.  No matter what the idea is the outcome would not be good.  Government intervention always has unintended consequences.

Let’s find those savings in Medicare and Medicaid and let’s save those programs.  Let’s enact tort reform right away!  Let’s give a tax credit to people in the lowest income brackets to buy their own insurance and let’s make it legal to buy health insurance across state lines.  These measures do not put a damper on our economy and would help to save costs.  The only thing that government health care will do is put our economy on the critical list and cause health care to deteriorate in this country.  Then where would all of the Canadians go for their surgeries that their government health care plan doesn’t provide in a timely fashion?  Right now they come here because we still have the best care in the world!


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Filed under Economy, Health Care Reform, Politics, Taxes

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