ObamaCare will Raise Costs and Taxes

The Director of the Congressional Budget Office warned that the “public option” and other items in Congressional Democrats’ health care proposals would cause health care costs to increase, not reduced, as President Obama and others have touted.  (John Goodman offers another update from Massachusetts, which has been called a “model” for nationalized health care.)

Americans for Tax Reform has a listing of taxes in the health care reform bill, including a “surtax” on high income earners (which is largely small business owners) that would raise the top marginal tax rate to near 50% (Greg Mankiw jokes that Obama would surely veto this tax, as it runs afoul of his campaign promises).  It also included a tax on those who don’t have insurance, which I’m sure excites all the uninsured who can’t afford health insurance for themselves, but can afford a tax to provide health care to others.

The National Taxpayers Union has a breakdown of some key words in the health care bill.  If you think we need more “requirements,”reports,” “limits,” “penalties,” “regulations,” or “taxes” for health care, you will like this bill.  If you like “choices,” “options,” “privacy,” “marketplace,” “freedom,” “rights”, or “consumer-driven” health care – not so much in it for you.