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1. The largest tax increase in history — 21 separate tax increases and new taxes, 75 percent of which hit the middle class. $500 billion in total tax hikes. Examples: Individual mandate tax (2.5 percent of gross income). Employer mandate tax ($3,000 per employee). Investment income surtax (3.8 percent times interest, dividends, rents, capital gains, royalties, etc.) Medicare payroll tax hike. Special needs kids tax. Medical device sales tax. Tax increases due to reduced medical itemized deductions and reduced HSA deductibility. Blue Cross/Blue Shield tax hike. Tax on high-end health plans. Tax on innovator drug companies. Insurance premiums tax. Elimination of tax deduction for employer-provided retiree drug coverage. Etc.
These tax increases when the private sector is already struggling are reason enough alone for Americans to reject Obamacare. But the tax hikes are only one class of multiple problems with Obamacare.
2. Reduced choices in the variety of insurance coverage available. Leftwing, politically correct mandated coverages based on what D.C. bureaucrats feel must be included in your insurance. Another bureaucrat panel tells doctors what types of care won’t be allowable.
3. Higher cost because of all the new coverages mandated into every policy. Slanted news coverage mentions only trivial objectionable mandates like birth control, but some estimates indicate all mandates combined could double insurance costs. How is this controlling health care costs?
4. Complete loss of economic freedom by forcing you to participate in this snake oil scam — you must buy this pork-laden insurance at a pork-laden price.
5. To pay for Obamacare, $500 billion stolen from a Medicare system that’s already broken. Many seniors will see Medicare premiums increase substantially to keep Medicare solvent.
6. A whole new class of serfs — co-dependents on the government dole; receiving government subsidies to help pay these monstrous insurance bills. With the phased-in cutoff at 400 percent of the poverty level ($92,200), most Montanans are now on the government dole. Government won’t pay all the cost of your health insurance — just enough to make you subservient … and quiet … and compliant.
7. One of the biggest government spending programs in history, $1.2 trillion-plus when we’re already on the verge of bankrupting our children’s future.
8. History proves that command-and-control government-run economies are less productive than free enterprise. As government-run, economically socialized countries continue to collapse and face financial crisis worldwide; D.C. geniuses have just converted one-sixth of the US economy from the free-market system (which produced the greatest medical advances in human history), over to government command-and-control which punishes productive, healthy people to subsidize those who produce less and consume more on the government dole. Result — less productivity. America will be one-sixth less productive than it was, and our children and grandchildren will be one-sixth poorer for our stupidity. To quote the Genius-in-Chief, “We live in the greatest nation in the history of the world … I hope you’ll join with me, as we change it.”
Churchill pointed out that “Capitalism may well be the unequal distribution of wealth, but socialism is certainly the equal distribution of poverty.” In our quest for socialized health equality, we are now one-sixth the way down the road to economic poverty, and poorer over-all healthcare as well.
How did we get here?
Insurance companies made a deal with the D.C. devil. They got government to guarantee them customers, irrespective of insurance quality or cost, through compulsory insurance laws; and they traded off your freedom of choice in variety of health insurance. You paid for all sides of this insurance company/big government windfall — fewer choices in the types of coverage and care, higher cost because the new required coverages will drive up the price, slower economy and wage growth, and loss of even your freedom to abstain from participating in this scam … and 21 higher taxes to boot. Your politicians and new government healthcare provider have just committed political med malpractice on a catastrophic scale.
Joe Balyeat is a CPA tax specialist who serves as the Montana state director of Americans for Prosperity. As a former state senator from Bozeman, he chaired the Senate Business, Labor & Economic Affairs Committee.