Monday, November 02, 2009

Obamacare: The Worst Bill Ever

So is the title of today's main WSJ opinion article: The Worst Bill Ever.
Yet at this point, Democrats have dumped any pretense of genuine bipartisan "reform" and moved into the realm of pure power politics as they race against the unpopularity of their own agenda. The goal is to ram through whatever income-redistribution scheme they can claim to be "universal coverage." The result will be destructive on every level—for the health-care system, for the country's fiscal condition, and ultimately for American freedom and prosperity.
This bill is nothing like it is being spun. Who in their right mind would believe any government prediction for costs? The spending to maintain this crappy program will be enormous, multiple times the current estimate. This program will fall, in part, to the states when the federal tax revenues continue to plummet.

This will expand Medicaid which is a government mandate to give lower earning people free health care. The providers bear 90 percent of the costs. This new-look Medicare, which is what this new Obamacare will be, will devastate those who provide medical services. It is a government-mandated program to force medical service providers to offer their services at rates lower than a business model allows.

The taxation rates on the wealthiest will increase 5.4 percent to 45 percent (federal tax only). Small businesses will be taxed 8 percent of their payroll is they don't offer insurance or pay 72.5 percent of their workers' premium. This will kill many small businesses.

The concept of insurance is to take in more money for premiums than is paid out in benefits. The government has never been able to run a business. Their monetary policy allows them to print more money, issue worthless bonds, and to participate in 'too big to fail' hegemony. The masses will have moderately expensive insurance in return for average to poor medical coverage. The few remaining insurance companies and private medical service providers will cater to the rich including politicians.
All of this is intentional, even if it isn't explicitly acknowledged. The overriding liberal ambition is to finish the work began decades ago as the Great Society of converting health care into a government responsibility.
Health care will be more expensive, quality will be diminished and curtailed, and this entitlement will bankrupt an already bankrupt nation. Rational politics is completely gone at the expense of national ruin. If and when the President signs this bankrupt entitlement program, mark that day down in history along with other devastating government actions like the creation of the Federal Reserve, the Bretton Woods system, the Smoot-Hawley Tariff Act, and the National Industrial Recovery Act.

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