Obamacare is now 20,000 pages long and they’re still writing rules! Sequestration won’t slow any of this down – aren’t we lucky?
ObamaCare has hit another major milestone. Not only will it slaughter our current health care system but it is going to do some major damage to your pocketbook and the economy.
The Joint Committee on Taxation released a 96 page report on the tax consequences of free health care. The initial estimated taxes to be collected when the bill was passed was a mere $569 billion. The report shows that the cost to taxpayers has increased significantly – $1.058 trillion.
The 0.9% payroll tax increase on wages and the self employed, along with the 3.8% tax on dividends, capital gains and other investment income went from $210.2 billion to $317.7 billion.
The Cadillac Tax on high cost health insurance plans went from $32 billion to $111 billion.
20,000 pages of ObamaCare
The employer mandate went from $52 billion to $106 billion.
The annual tax on health insurance providers went from $60.1 billion to $101.7 billion.
The individual mandate taxes went from $17 billion to $55 billion.
The annual tax on drug manufacturers and importers jumped from $27 billion to $34.2 billion.
The 2.3% excise tax on medical device manufacturers and imports went from $20 billion to $29.1 billion.
The Limit FSAs in cafeteria plans jumped from $13 billion to $24 billion.
The increase on the AGI 7.5% floor on medical deductions jumped from $15.2 billion to $18.7 billion.
The new fee tax on insured and self insured health plans, patient-centered outcomes research trust fund went rom $2.6 billion to $3.8 billion.
You can read the list in its entirety at the link above.
Now if you think for one moment that the government is going to collect all this taxes and put them in a “trust” account to actually pay for ObamaCare, I have some swamp land you might be interested in.
It cracks me up when both Republican and Democrats talk as though there is a real Medicare Trust Fund and a real Social Security Trust Fund. What a joke!
Government trust funds are nothing more than a name on an account to keep tack of inflow of taxes collected and dedicated premiums and outflow of benefits. No actual money is ever in these accounts. Taxes collect go into the general fund to be spent on whatever agenda is in favor and lots and lots and lots of pork.
Just like Social Security and Medicare, ObamaCare will operate on a cash flow basis, meaning they’ll be scrambling for even more taxes to attempt to keep it out of the red. And just like Social Security and Medicare, ObamaCare will be operating in the red for ever.
What happens when they need more taxes than you actually earn?
And if you aren’t depressed enough already, check out the new application everyone will be required to submit. The draft version of the Obamacare application and the 60-page description appeared online without any warning. They can be found here in pdf format.
The application is 15 pages with 21 steps, some steps having additional questions. Three government agencies including the IRS will scrutinize the application for identity, finances, and citizenship. If approved, you then have to pick a health plan. In order to pick a health plan, you have to be familiar with healthcare jargon. And, considering the way government phrases questions, you might also need an attorney.
A sample question you will be required to decipher: “If the child’s relationship to the applicant hasn’t already been provided and the state has taken up an option to limit the allowable relationships of a caretaker relative to a dependent child, skip to item 4.” What!!!!!!
The government will have to know all about your financial situation because of the subsidies. Lower income people will be forced onto Medicaid, a very poor healthcare system that pays benefits so poorly that people in the program must rely on the charity of doctors. Middle class people will get subsidies for a better plan, maybe.
Don’t forget, Uncle Sam will have access to your bank accounts to check on your answers any time so it would be best not to screw up the application. And don’t think you can skip filling it out if you need insurance – its mandated by law. When Obamacare law was first drafted, Pelosi and her nutty left buddies wanted to imprison violator so don’t be surprised if jail time doesn’t come back into the picture. Maybe that is what all those FEMA camps are for!
