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Health care reform will cause a Great Depression

Bread line during the 1930s
Bread line during the 1930s
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The Health Care Reform Bill, if passed by the Senate and signed into law by President Obama, will send the country cascading into a Great Depression. The financial collapse will revival the bank collapse of the 1930s.




Many giant corporations, and the entire economy itself, teeter on the brink of a depression. Raising taxes now would have the same effect as the Revenue Act of 1932 did. This act, which doubled taxes, sent the country from a deep recession into the Great Depression of the 1930s. Consumer confidence dried up and didn’t return until World War II was in full swing. No one trusted the banks and the few that didn’t collapse had no money to lend.




The current Health Care Reform Bill will add $1.26 trillion in new spending, which will require new taxes to pay for it, and force the middle class taxpayer to pay for tens of millions of uninsured Americans. In addition to these taxes, the new health law would mandate coverage, even for the working poor who can’t afford it. This would eat up their savings and take money away from other things that it is needed for, including food, clothing, and providing for their children.




If the goal is to help those who don’t have coverage, then why not just open free clinics? Doctors could do pro bono work for the poor, without the treat of malpractice lawsuits. These two options would provide the poor with health care and cost very little.




The current Health Care Reform Bill constitutes the single largest attempt at socialism in this nation’s history. If we allow this bill to run it full course and become the law of land, it will create scores of new taxes that will cascade this nation into a financial nightmare.

 

Comments

  • xbom 4 years ago

    i think you are wrong. we are the only major country left to have a socialized health care plan. we need this. every other country lives longer and happier than we do. so why should we allow the insurance companies to get away with what they are doing?

  • Donald 4 years ago

    The conclusion in this article is incorrect and misleading. Passing health care reform will make health care more affordable for everyone including businesses. This will put more money in the pockets of consumers so that they can begin spending again. With half my income going to health care premiums, I have nothing left to spend. My health care premium is more than my brother's mortgage. For the last two years my premium has gone up 20% per year. At this rate in a few years no one will be able to afford health care. If all the other industrial countries in the world can provide affordable health care to all their citizens at half the price we spend, surely we can do the same and save money in the process.

  • Mathieu G Stremsdoerfer 4 years ago

    The author of this article is either joking, lying, or plain stupid.
    1 We need this reform: despite the american people paying more than anybody else in the world on healthcare, the US has a dismal health record at par with Cuba, one of the poorest country in the world.
    2 A 'socialized healthcare' (provided by the government) has never been the goal of the reform. It offers an alternative to the American people to bring back some competition between providers and make healthcare a right for every american to help those who can't afford it. How many of our fellow citizen have dropped healthcare since losing their jobs?
    3 The doomsday scenarios described above is plain ridiculous and shows a total lack of perspective. If true, Japan, Germany, France, Switzerland, Great Brittain, Spain, Italy, Sweden, Norway, Korea , Canada which have universal healthcare systems would already be bankrupted.
    4 My recommendation. Start exercising, you ll feel better and be more optimistic...

  • Pay-the-man 4 years ago

    Deficit spending and the entitlements our federal government has devised can't provide prosperity. Winston Churchill likened stimulus spending to a man trying to pull himself up while standing in a bucket and pulling on the handle. You have to ask yourself: "why is our economy the largest in the world"? It is unrestrained capitalism. At some point contracting parties make a bargain where both parties are better off. Government has a role in keeping the peace and enforcing contracts, but when it decides the "winners and losers", we all lose. The very thought of changing 1/6th of the economy on a Saturday-night vote on a 2000-page legislative bill that no one read, is the definition of arbitrary and capricious.

  • What? 4 years ago

    How is this a "Cincinnati Event"? Isn't that your topic?

  • Vega 4 years ago

    Well I say America is America, the rest of the world has universal health care but I don't see them as powerful as us do you? All I see is bill that they rushed pushed through and the majority of America spoke and said No, but they had to say yes. The American people aren't going to allow this to work and this congress and administration know this. However, this article does point out the revenue act of 1932, which is true Herbert Hoover the one who said; "Blessed are the children for they will inherit the national debt" So this does make sense. when we look at medicare it was created in 1966 at a cost of $3 billion per year and the House Ways and Means Committee estimated in 1966 that in 1990 the cost of Medicare would reach $12 billion per year. Instead, the actual cost of Medicare in 1990 was $107 billion (792% more than what was projected) and today Medicare costs $408 billion annually. History can repeat itself