This is not a Personal Finance or Estate Planning post, but rather is part of “Are you Freaking Serious Fridays” where I take the last day of the week just simply to bitch and complain about whatever topic I feel is necessary to complain about.
The Tax Foundation posted The Revenue Impact of the Bacaus Plan and to say that its crazy is an understatement! Luckily, the fine folks at the Tax Foundation summed up the CBO’s document so I didn’t have to (read: I didn’t read the whole report).
Congressional Budget Office’s Estimated Impact of the Bacaus Proposed Health Care Bill
The Tax Foundation broke down the revenue and the costs:
SPENDING INCREASES & TAX CREDITS (over 10 years)
Additional outlays for Medicare and CHIP $345 billion Federal Subsidies for Insurance Purchases $461 billion Tax Credit for Employers Offering Health Insurance $23 billion TOTAL $829 billion
REVENUE INCREASES (over 10 years)
Excise Tax on High-Premium Insurance Plans $201 billion Penalty Payments by Uninsured Individuals $4 billion Penalty Payments by Employers whose workers receive subsidies $23 billion Other $83 billion TOTAL $311 billion
SPENDING REDUCTIONS (over 10 years)
Reductions in Medicare Payment Rates $162 billion Medicare Advantage Payments Set at Average Bid $117 billion Reductions in Medicare and Medicaid Hospital Payments $45 billion Other Program Savings $80 billion TOTAL $404 billion
REVENUE INCREASES ELSEWHERE (over 10 years)
Other $196 billion
NET CHANGE TO 10-YEAR DEFICIT: -$81 billion
Couple problems I have with it that make my head spin and want to use words other than freaking:
- All those Excise Taxes – What happens when the government get what it wants and people stop using the programs that have excise taxes associated with it?
- All those listed reductions in spending have to do literally paying doctors or other staff members at hospital less…ummm, Doctor revolt anyone?
- What the hell is OTHER! for the tune of $196 Billion! $196,000,000,000!
Obama Receives Nobel Peace Prize
This one I have to type my true feelings – What the FUCK is wrong with the world?
- We are still involved in 2 wars
- He hasn’t shut down Gitmo
Bush started those (kindof) Blah blah blah…he has the power to get rid of those anti-peace things, and he hasn’t (nor do I think he should, but lets ignore that for a second). HE HASN’T DONE SHIT EXCEPT TALK! My head is spinning