Beware Governments Bearing Gifts

There appear to be quite a few major downsides to the health care plan currently being debated.

1) As noted in my earlier post, not having coverage will essentially become illegal. You will be fined and enrolled against your will in the government-run plan if you don't carry coverage. This will be called "helping you."

2) Medicare will be cut. Seniors are going to be very unhappy with this.

3) Medicare payments to doctors will increase. This $245B bribe to the AMA makes the already dubious claim of reducing costs (which can only be done by reducing innovation, underpaying, or rationing) an outright lie.

4) The middle-class will be taxed. Obama has signalled his openness to this.

5) The deficit will increase substantially. An Obama handler "clarified" that #3 above is "not part" of his pledge not to increase the deficit with the health care bill.

6) The economy will suffer. In addition to the middle-class tax hikes here will be a massive tax hike on the wealthy, and that means less investment, less incentive to produce, lower GDP.

7) Many people will be dumped off of their employer health plans and into government-run health care, because employers are being given financial incentive to do so. Estimates run as high as 120 million people. You will not get to keep your doctor or your insurance, contrary to what Obama is claiming.

8) There will be few beneficiaries, and many people hurt by this. The 7% of people they are insuring are mostly young and healthy anyway, while many people who currently have real insurance will find themselves dumped into government-run health care and paying higher taxes to boot.

All this probably explains why an increasingly skeptical public now disapproves of Obama's performance by 51-49. Team Barack should be worried; those who strongly disapprove of him are 8% higher those who strongly approve (those are the people who will donate, organize, etc.), and at this rate of decline he'll be in the 20s overall by this time next year.

posted by Dave on 07.24.09 at 02:52 PM





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Comments

How many of the uninsured would qualify for Medicaid if something major came up?

Kent Gatewood   ·  July 24, 2009 09:40 PM

Under the new system no health plan can charge its highest-cost member more than twice its lowest-cost member.

So lets say the actual cost of insuring a 60 year-old is $5000 a year and the cost of insuring a 20 year-old is only $800 a year. Under the new system the 20 year-old has to pay at least $2500 to keep the plan legal.

So not only are the uninsured young people being forced to get insurance, they will also be paying more than the actual cost of insuring them.

This is one reason why many insurance companies are supporting ObamaCare. They are salivating at the prospect of all getting all these new young enrollees.

Gideon7   ·  July 26, 2009 07:00 AM

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