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A bankrupt nation faces high taxes

The health care insurance reform bill was passed, and Democrats are celebrating victory of a historic achievement. However, public opinion hasn't changed. The public is against the bill and  it's time for damage control. Obama is doing what he does best...selling the bill. In his rhetoric, POTUS challenges Republicans to "bring it on." 

They intend to do just that with the help of fiscal conservative Democrats, Conservatives, and Independents.

Public opinion hasn't changed? The numbers are a 49 percent disapproval. Passing a trillion dollar health care insurance reform bill while people are losing jobs and homes does not seem to endear a majority of voters, maybe especially while government employees are increasing. The the health care insurance bill--about insurance regulation--is not impressive to voters who see raised taxes and higher cost of health care.

With the expiration of the Bush tax cuts voters will see the impact in short time. The ARRA stimulus bill didn't do much to garner confidence for voters hurting from the sharp decline in the economy.

States are broke and many will raise taxes to try to balance their budgets. Some may even be forced to cut spending.

Raised taxes are coming from all directions, but voters are hearing, "you'll love this health care (insurance) reform me."

The current news reports don't support the positive rhetoric of the health care insurance reform bill.  Some of you read CBO letter to Rep. Paul Ryan found here that details the impact of enacting 3 bills that deal with health care costs with rising deficit.

Bad news or is it premature?  Reuters reports on Caterpillar and Deere.

  • Deere & Co. and Caterpillar Inc. said they were expecting a combined $250 million in charges this year as a result of changes to the $2.5 trillion U.S. healthcare system that President Barack Obama signed into law this week.

The comments have been evaluated as premature and irresponsible by the US Commerce Secretary. With tax cuts expiring soon there will be an automatic up tic in taxable revenue. It's difficult to say who is overstating or possibly understating the financial situation of these and other organizations.

Higher taxes are coming whether by state, federal, or raised local taxes on food, energy, and shelter. Big Pharma and unions rest easy as voters struggle with life in mainstream America

News for senior citizens:

* The Democrats in Congress argued that they would gain $5.4 billion in revenue by eliminating the tax break enacted in the 2003 Medicare Part D program as an incentive for businesses to keep their retirees out of the Medicare system. Instead, they have given businesses a reason to dump their retirees out of the private networks and into the Part D system now. Not only will the expected tax revenues never appear, but now we will have to spend a lot more money covering those prescriptions out of public funds. The seniors in these programs will suffer most of all, as the Part D coverage is vastly inferior to the private plans offered by businesses in the private sector.

More on health care:

Maybe we over promised

Personal incomes drop

2000 House staffers make 6 figures


  • Chris Cumminggs 5 years ago

    "The seniors in these programs will suffer most of all, as the Part D coverage is vastly inferior to the private plans offered by businesses in the private sector."
    Well, that's a lie and getting to be more of one. While closing a really egregious tax loophole that allowed corporations to write off their taxes the government subsidies they got for subscription drug coverage (imagine that you and I could write off our income as a tax deduction!), the Part D donut hole is going away - so it becomes much less costly to buy drugs under Medicare.

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