Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Joe Contrarian · Mar 28, 2010

Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare

Sunday, March 28, 2010, 8:55 AM

Jim Hoft

Late last week several US corporations leaked how the democrat’s health care bill will kill their businesses. The radicals in Congress were not pleased that these corporations would go public with this devastating information. In response, democrats threatened to call for Congressional show trials to publicly humiliate these corporations.

The Wall Street Journal reported:

It’s been a banner week for Democrats: ObamaCare passed Congress in its final form on Thursday night, and the returns are already rolling in. Yesterday AT&T announced that it will be forced to make a $1 billion writedown due solely to the health bill, in what has become a wave of such corporate losses.

This wholesale destruction of wealth and capital came with more than ample warning. Turning over every couch cushion to make their new entitlement look affordable under Beltway accounting rules, Democrats decided to raise taxes on companies that do the public service of offering prescription drug benefits to their retirees instead of dumping them into Medicare. We and others warned this would lead to AT&T-like results, but like so many other ObamaCare objections Democrats waved them off as self-serving or “political.”

…Henry Waxman and House Democrats announced yesterday that they will haul these companies in for an April 21 hearing because their judgment “appears to conflict with independent analyses, which show that the new law will expand coverage and bring down costs.”

In other words, shoot the messenger. Black-letter financial accounting rules require that corporations immediately restate their earnings to reflect the present value of their long-term health liabilities, including a higher tax burden. Should these companies have played chicken with the Securities and Exchange Commission to avoid this politically inconvenient reality? Democrats don’t like what their bill is doing in the real world, so they now want to intimidate CEOs into keeping quiet.

On top of AT&T’s $1 billion, the writedown wave so far includes Deere & Co., $150 million; Caterpillar, $100 million; AK Steel, $31 million; 3M, $90 million; and Valero Energy, up to $20 million. Verizon has also warned its employees about its new higher health-care costs, and there will be many more in the coming days and weeks.

The last paragraph says it all about the democrat’s trickery:

The Democratic political calculation with ObamaCare is the proverbial boiling frog: Gradually introduce a health-care entitlement by hiding the true costs, hook the middle class on new subsidies until they become unrepealable, but try to delay the adverse consequences and major new tax hikes so voters don’t make the connection between their policy and the economic wreckage. But their bill was such a shoddy, jerry-rigged piece of work that the damage is coming sooner than even some critics expected.

Byron York at The Washington Examiner has more on the show trials.

Waxman is also demanding that the executives give lawmakers internal company documents related to health care finances — a move one committee Republicans describes as “an attempt to intimidate and silence opponents of the Democrats’ flawed health care reform legislation.”

…Waxman has ordered the executives to explain themselves at an April 21 hearing before the Energy and Commerce Committee’s investigative subcommittee. That subcommittee just happens to be chaired by Rep. Bart Stupak, the Michigan Democrat who held out his vote on health care reform until a few hours before final passage on March 21, giving the bill’s opponents the unfounded hope that he might vote against it.

Waxman’s demands came Friday in letters to several executives. “After the president signed the health care reform bill into law, your company announced that provisions in the law could adversely affect your ability to provide health insurance,” Waxman wrote to Randall Stephenson, chairman and CEO of AT&T. A few hours before Waxman sent his letter, AT&T announced it will take a $1 billion charge against earnings because of the tax provision in the new health bill. AT&T also said it will be “evaluating prospective changes” to its health care benefits for all workers…

Waxman’s request could prove particularly troubling for the companies. The executives will undoubtedly view such documents as confidential, but if they fail to give Waxman everything he wants, they run the risk of subpoenas and threats from the chairman. And all as punishment for making a business decision in light of a new tax situation.

These democrats in Washington are nothing but thugs. They’ll try anything to keep the truth from coming out about their disastrous legislation.

Spytheweb · Mar 28, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Single payer benefits for businesses,

An Improved Medicare-for-all system provides business with many benefits:

It reduces labor costs by 10-12% (a 3.3% additional tax on wages* versus today's 10-15% of wages for medical insurance).
It reduces liability and auto insurance costs.
It reduces worker compensation costs, likely by half.
It eliminates health benefits management costs and yearly insurance company and labor contract negotiations for health care.
It creates healthier personnel and more employee stability, reduces absenteeism, and eliminates employer health system complaints.
It reduces the need for part-timers, and provides easier recruiting (no pre-existing disease or COBRA issues).
It eliminates employee health-related debt and personal bankruptcies.
It will expand the U.S. economy and business climate by freeing up family income to purchase new products and services.

Support single payer at the state level.

Joe Contrarian · Mar 29, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Aetna CEO warns: Expect price hikes, bankruptcies, and policy changes

posted at 1:35 pm on March 29, 2010 by Ed Morrissey
<small>Share on Facebook | printer-friendly </small>

“If you like your doctor, you can keep your doctor … If you like your coverage, you can keep your coverage.” Barack Obama repeatedly offered these promises to audiences across the US in campaigning for ObamaCare, but Ron Williams, CEO of Aetna, begs to differ. Williams provides health insurance to over 36 million people, and he has one message for Charlie Rose and the US — expect change:

Will insurance premiums go up?

The answer is yes, and some of the things that will drive those premiums are significant additional taxes the industry will ultimately have to pay in the first year.

The President said that this bill would not have any impact on people who already had coverage, that it was about the uninsured, that there would be no change. Will this legislation change the coverage of people who are already paying for it?

My perception is, yes, things will change. You might not have a plan that includes the exact same doctors. You might have plans that have richer benefits, and therefore you’re going to pay more for benefits you may or may not want. It would have been a better message to say, we’re going to make certain you maintain your eligibility.

Williams also expressed disappointment in the demonization of insurers during the ObamaCare debate. Aetna employs over 35,000 people in that industry, and they certainly don’t see themselves as villains. Although he doesn’t mention it, Williams had to have found himself a bit nonplussed over all the hyperbole about industry profiteering, too, with the health-insurance industry’s average of two to six points of annual margin.

That brings us to Williams’ assessment of the industry after ObamaCare. One reason that people may have fewer choices in health insurance — and why they may lose their doctor or plan — is because smaller insurers won’t survive. The new mandates and the expenses incurred by insurers that didn’t plan for them will swamp them in a sea of red ink. Williams sees these insurers with their boutique plans as endangered species, who will either get swallowed whole by larger companies and their plans discontinued, or will succumb to bankruptcy and fail outright.

As Jim Geraghty says, every promise from Obama comes with an expiration date.

ACCC · Mar 29, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

I am not convinced that this health insurance bill is so anti-corporate. But even if it is, the corporations have been given strong favorable treatment for years, including the government providing bailouts, allowing outsourcing and illegal immigration, and allowing companies (ex. Wal-Mart) to provide little to no healthcare so their workers go on welfare. All of this is while the corporate elites get record profits, bonuses, and stock options.

If they have to pay a little more in taxes or pay a few thousand a year on health care, let them deal with it, just as taxpayers have had to bail out corporations and bear the burdens on job loss and lower wages throughout society.

Joe Contrarian · Mar 29, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

ACCC said:
I am not convinced that this health insurance bill is so anti-corporate. But even if it is, the corporations have been given strong favorable treatment for years, including the government providing bailouts, allowing outsourcing and illegal immigration, and allowing companies (ex. Wal-Mart) to provide little to no healthcare so their workers go on welfare. All of this is while the corporate elites get record profits, bonuses, and stock options.

If they have to pay a little more in taxes or pay a few thousand a year on health care, let them deal with it, just as taxpayers have had to bail out corporations and bear the burdens on job loss and lower wages throughout society.

How badly do you want to believe, ACCC?

Bad enough that you'll throw every bit of your God-given common sense out the window because of an agenda?

“If you like the plan you are in you can keep it.” <table border="0"> <tbody> <tr> <td valign="top" width="100">19 million</td> <td valign="top">Number of people predicted to lose their employer plan (Lewin Group)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">8 to 9 million </td> <td valign="top">Number of people predicted to lose their employer plan (CBO)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">$11,543 </td> <td valign="top">Employer incentive to drop coverage for a $30,000 a year worker with family [Tax subsidy in the exchange minus tax subsidy at work minus $2,000 fine] (IRET) </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">8.5 million </td> <td valign="top">Number of seniors and disabled people at risk of losing their Medicare Advantage plan (Medicare Chief Actuary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">3 million </td> <td valign="top">Additional people who will likely lose Medicare Advantage plan benefits (Medicare Chief Actuary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">$816 </td> <td valign="top">Average annual benefit loss for 11 million seniors and disabled in Medicare Advantage plans (CBO) </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">33 million </td> <td valign="top">Number of people in traditional Medicare at risk of losing access to care because of $523 billionin cuts in Medicare spending (Medicare Chief Actuary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">20% </td> <td valign="top">Fraction of hospitals that would become unprofitable after Medicare spending cuts (Medicare Chief Actuary) </td> </tr> </tbody> </table>

<object width="350" height="280">

<embed src="http://www.youtube.com/v/IHWeuQyFouo&rel=0&color1=d6d6d6&color2=f0f0f0&border=0&fs=1&autoplay=0" type="application/x-shockwave-flash" allowfullscreen="true" width="350" height="280"></object>

ObamaCare is Stayin’ Alive
“There will be no tax increases for anyone who earns less than $200,000.”
<table border="0"> <tbody> <tr> <td valign="top" width="100">73 million </td> <td valign="top">Number of people who earn less than $200,000 who will see their tax bill rise (Joint Committee on Taxation)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">40%</td> <td valign="top">Tax rate on “Cadillac” plans (Reconciliation Summary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">2.3%</td> <td valign="top">Hidden tax on wheelchairs and other medical supplies (CBO update) </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">$27 billion</td> <td valign="top">Hidden “medicine cabinet” tax on drugs (Reconciliation Summary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">10%</td> <td valign="top">Tax on tanning salons (Reconciliation Summary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">$60 billion </td> <td valign="top">Hidden health insurance tax (Reconciliation Summary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table>
“Health insurance reform is…about creating a climate where our entrepreneurs and small businesses can succeed [and] about giving you the chance to prosper and grow.”
<table border="0"> <tbody> <tr> <td valign="top" width="100">$100 million</td> <td valign="top">Cost of ObamaCare mandates for Caterpillar, Inc. in the first year alone (Caterpillar, Inc.)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">60%</td> <td valign="top">Implicit marginal tax rate for workers earning as little as $25,000 (IRET)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">65%</td> <td valign="top">Implicit marginal tax rate for families earning as little as $50,000(IRET)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">0.9%</td> <td valign="top">New payroll tax on the wages of entrepreneurs and small business owners (Reconciliation Summary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">3.8%</td> <td valign="top">New tax on the capital income of entrepreneurs and small business owners (Reconciliation Summary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table> “The average family will save $2,500 in health care costs by the time I complete my first term as President of the United States.”
<table border="0"> <tbody> <tr> <td valign="top" width="100">111%</td> <td valign="top">Premium increase for individual insurance (AHIP)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">54%</td> <td valign="top">Premium increase for individual insurance (BlueCross BlueShield)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">106%</td> <td valign="top">Premium increase for individual insurance (Wellpoint)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">$2,100</td> <td valign="top">Premium increase for the average family (CBO) </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table>
“Over the past year the House and the Senate have been working on an effort to provide health insurance reform that lowers costs …”
<table border="0"> <tbody> <tr> <td valign="top" width="100">$220 billion</td> <td valign="top">Rise in national health care spending over the next 10 years (Medicare ChiefActuary)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table> “… that guarantees access to care …”
<table border="0"> <tbody> <tr> <td valign="top" width="100">16 million</td> <td valign="top">Number of new people added to Medicaid and SCHIP, where care is increasingly rationed and where provider choice is increasingly restricted. (CBO)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr> <td valign="top" width="100">0 </td> <td valign="top">Number of new doctors and nurses trained and number of new hospitals built to meet the needs of 32 million newly-insured (CBO) </td> </tr> </tbody> </table> ” … and enhances the quality of health care for all Americans.”
<table border="0"> <tbody> <tr> <td valign="top" width="100">29 million</td> <td valign="top">Number of people who will enter a health insurance exchange where health plans will have an incentive to underprovide to the sick. (CBO/NCPA)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table>
“This is not about big government …”
<table border="0"> <tbody> <tr> <td valign="top" width="100">16,500</td> <td valign="top">Additional IRS auditors needed to enforce the legislation (Ways and Means Minority Report)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table> “This legislation will protect families …”
<table border="0"> <tbody> <tr> <td valign="top" width="100">$6,000 to $10,000</td> <td valign="top">Marriage penalty if two $32,000-a-year workers say “I do.” (Ways and Means Minority Report)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table> “We are going to get rid of the special deals …”
<table border="0"> <tbody> <tr> <td valign="top" width="100">$7,300</td> <td valign="top">Extra exemption from the Cadillac premium tax for members of labor unions. (Ways and Means Minority Report)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table> “This bill will reduce the federal deficit …”
<table border="0"> <tbody> <tr> <td valign="top" width="100">$562 billion</td> <td valign="top">Increase in the deficit after removing budget gimmicks and unrealistic tax increases and budget cuts relegated to future Congresses (CBO former director)</td> </tr> <tr height="10"> <td width="100"> </td> <td valign="top"> </td> </tr> </tbody> </table>  <script type="text/javascript"> var addthis_pub = 'ncpaadmin'; var addthis_brand = 'Blogs by NCPA';var addthis_language = 'en';var addthis_header_background = '#14214e';var addthis_header_color = '#FFFFFF';var addthis_options = 'email, print, favorites, digg, delicious, facebook, myspace, twitter, google, yahoobkm, reddit, live, technorati, m

</script>

ACCC · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

When you talk about company incentives to revoke health care for workers who would receive a subsidy, that just shows that this plan does have pro-corporate aspects rather than being harmful to all corporations.

If anything, companies that currently give health care could save a lot of money through this Obama plan, and it will only punish the companies that don't provide adequate health care (such as Wal-Mart) with the $2000 fine per worker.

There is no perfect way to do it - you will either have companies that exploit the workers with no consequences (what we had before Obama plan), or there will be some increased costs to the taxpayer. The Obama plan is costly to high-income taxpayers, along with some increased costs to employers that didn't give adequate heathcare. But there are potentially decreased costs to some of the more responsible employers who have been providing healthcare rather than exploiting their workers (should these companies transition to the Obama plan).

At least this plan will help some people, rather than the old plan that only benefitted cheap and exploitative companies like Wal-Mart.

Joe Contrarian · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

It will help nobody.

Tens of millions of new people funneled into the system (including illegals) with not one new doctor, nurse and paramedic = shortages and poor level of care.

Massive Medicare cuts = shortages and poor level of care.

Most health insurance companies will go bankrupt under this unsustainable pie-in-the-sky government mandated business model.

Rather than pay the $2000 fine per worker, companies will simply lay them off, or move overseas adding to the already mass exodus of wealth and high level of unemployment in this country.

I could go on and on...

If this plan did even a fraction of what it's supporters claim, it would have been implemented immediately. Instead, some of the worst parts don't kick in till after the 2010 and 2012 elections. (How convenient!)

This government takeover is a disaster from start to finish.

Joe Contrarian · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Wait, What? President Obama Admits ObamaCare Not Cutting Costs Like He Promised

More Employers Report Squeeze From ObamaCare?s Job-Killing Tax Increases and Health Care Cost Hikes

Washington, Mar 30 -

With his new health care law already hurting our economy, President Obama now admits ObamaCare is not cutting costs like he repeatedly promised it would. Apparently, the federal government is spending a trillion dollars, raising taxes, cutting Medicare, and imposing job-killing mandates for a ?first step? that will require ?further adjustments.? Tell that to the employers, workers, and small businesses who are watching ObamaCare take money out of their pockets.

We?ve seen this presidential switcheroo before: when it became clear the trillion-dollar ?stimulus? wasn?t working, the President claimed it was never about creating jobs anyway. For the American people, who have always considered lowering costs to be their highest health care priority, ObamaCare is fast becoming just another Washington program that overspends and underdelivers. That?s why we need to repeal this government takeover of health care and replace it with reforms focused first on lowering costs and protecting American jobs.

According to a new USA Today/Gallup poll, a majority of Americans say ObamaCare is ?too costly?:

<table style="border-collapse: collapse; background: none repeat scroll 0% 0% rgb(255, 255, 153);" border="0" cellpadding="0" cellspacing="0"> <tbody> <tr> <td style="border: 1pt dashed windowtext; padding: 0in 5.4pt; background-color: transparent; width: 5.5in;" valign="top">

?Nearly two-thirds of Americans say the health care overhaul signed into law last week costs too much and expands the government's role in health care too far, a USA TODAY/Gallup Poll finds, underscoring an uphill selling job ahead for President Obama and congressional Democrats. Those surveyed are inclined to fear that the massive legislation will increase their costs and hurt the quality of health care their families receive??
</td> </tr> </tbody> </table>

? Higher costs for employers: ?Insurer Prudential Financial Inc. said Monday that it will take a $100 million charge in the first quarter in relation to the recent health care overhaul legislation. ? Prudential joins a growing list of companies that have said they will take accounting charges because of the health care bills. AT&T said last week it would take a $1 billion charge in the first quarter. AK Steel Corp., 3M Co., Caterpillar Inc., Deere & Co. and Valero Energy have also said they would take smaller charges.? (Associated Press, 3/29/10)

? Higher costs for workers: ?Officials at Fort Smith-based Baldor Electric Co. also have not determined the financial impact of the new bill, although they anticipate it will add costs for the company. ?We do know, however, that the legislation which passed last week will have a negative effect on our overall health care costs. Health care costs for our company and our employees will increase next year as a result of the new provisions required by the law,? said Tracy Long, Baldor?s vice president-investor relations. ? The company employs between 7,000 and 7.500 in 26 plants in five countries and sales offices serving more than 80 countries. About 2,000 are employed in the Fort Smith area.? (Fort Smith (AR) City Wire, 3/30/10)

? Higher costs for younger workers: ?Health premiums could rise 17 pct for young adults. Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That's when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press. ? The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers with the highest unemployment rate in 26 years.? (Associated Press, 3/29/10)

? Higher costs for small businesses: ?Local pharmacy, small business owners worry about cost of health care bill. John Kempinski, owner of Crossroads Pharmacy in Hanover Twp., fears the health care bill ? will burden him with crushing taxes. ?If they raise taxes, it?s going to affect every small business,? Mr. Kempinski said. ?Luzerne County?s taxes are going up. All those taxes are going up and if they throw another tax on us, it curtails me from remodeling, hiring, advertising and giving contributions to the Little League. It curtails all of that.? (Scranton Times-Tribune, 3/23/10)

? Higher costs for those who already have insurance: ?For most Americans insured through their work, coverage with the new health bill is expected to stay the same, but premiums will rise. ? How much? No one's certain.? (CBS News, 3/22/10)

? Higher costs for taxpayers: ?Provisions of the health-care law that expand benefits for home-bound elderly, certain early retirees and coal miners will likely cost more than expected, say analysts and even some of the measures' proponents. The Congressional Budget Office warned last year that the Class program?s own benefits eventually would grow so large that it would drain the government's finances. ?The Class program would inevitably add to future deficits?by more than it reduces deficits in the near term,? the office said in a letter to lawmakers. ? The second program, to subsidize health-care plans that cover lots of retirees under age 65, will benefit cities and states as well as old-line manufacturing firms. ? A spokesman for Rep. Sander Levin (D., Mich.), the House Ways and Means Committee chairman and a close ally of the auto industry, left open the possibility of additional funding.? (The Wall Street Journal, 3/29/10)

ACCC · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Are you now writing your own newspaper articles, because I have no idea what the source of that article is? I don't think you tracked down all of those articles yourself and put them together with the analysis on the top. I think you were warned about being Plagiarism King with your famous labor cartel post from a few months ago.

4625 · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Correct call, ACCC. Since I view our kooky kannuck as nothing more than momentary amusement, I often overlook his many forum transgressions.

Joe Contrarian · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

ACCC said:
Are you now writing your own newspaper articles, because I have no idea what the source of that article is? I don't think you tracked down all of those articles yourself and put them together with the analysis on the top. I think you were warned about being Plagiarism King with your famous labor cartel post from a few months ago.

Hahahahaha....predictable ad hominem attack with ZERO answers to the previous two posts.

And then the faux lawyer piles on -- as if to fool the forum into believing he contributed a 'point'. What a maroon! :+textinb3

Loony libs never disappoint when cornered.

This bill is a DISASTER on so many fronts, but the Obozo zombies instead choose to attack the messenger. Typical.

To Herr Obama and the Kool Aid drinkers,

ACCC · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

My response is that if a company can't afford 2k per year in health insurance fines per worker, it should be out of business anyway. Comapnies make hundreds of milliosin profits and only keep them out of greed.

Many companies are able to compete by giving health benefits that cost much than 2k/year (in all industries). Some of the union supermarkets give free healthcare and WalMart employees are on Medicaid. Forced health care contributions wouldn't break the bank at WalMart. They are only being greedy and it's not that they lack the money. It is also good for society due to preventing so much unfair competitive pressure on other companies that pay proper healthcare and benefits. And taxpayers are already paying for the welfare/Medicaid of workers who get no health benefits or pay, so it doesn't make a difference in that area either. Taxpayers won't really be affected.

As for the effects on health insurance companies, the amount they charge has gotten out of control also, and they have been making record profits. It's just like the oil companies when oil was at record high. I am not interseted in health insurance companies crying poverty when they make record profits and the couuntry has probably 20% employment in reality, which leads to nobody being able to afford medical care.

Joe Contrarian · Mar 30, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

ACCC, I think your perception that the health insurance industry is swimming in money is not supported by the facts. As I have posted numerous times, profit margins are paper thin in this business.

And if you don't think that $2K fine isn't going to be passed down to the final consumer...well...I don't what to say. I guess you refuse to embrace real economics. This is a HUGE tax grab for people with low to middle incomes.

Already it looks like Obamacare may have wiped out several billions of dollars of first-quarter profits. That's quite an accomplishment...if you're a Marxist.

20% unemployment is nothing compared to how bad things will get once the system collapses. I guess things are going to have to get much worse until people wake up.

Joe Contrarian · Mar 31, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Attention all Kool Aid drinkers:

STICK YOUR HEAD IN A #@%&ING TOILET AND KEEP FLUSHING!!

Timeline of Major Provisions in the Democrats? Health Care Package

2009

2‐year tax credit (total cap of $1B) for new chronic disease therapy investments
Medicare cuts to hospitals begin (long‐term care (7/1/09) and inpatient and rehabilitation facilities (FY10))

2010

States and Federal officials review premium increases
FDA authorized to approve ?follow‐on? biologics
Increase brand name pharmaceutical Medicaid rebate (from 15.1% to 23.1%)
Medicare payments to physicians in primarily rural areas increase (2 years)
Deny ?black liquor? eligibility for cellulosic biofuel producers credit
Tax credits provided to certain small employers for health care‐related expenses
Increase adoption tax incentives for 2 years
Codify economic substance doctrine and impose penalties for underpayments (transactions on/after 3/23/10)
Provide income exclusion for specified Indian tribe health benefits provided after 3/23/10
Temporary high‐risk pool and high‐cost union retiree reinsurance ($5 B each for 3.5 years) (6/23/10)
Impose 10% tax on indoor UV tanning (7/1/10)
Medicare cuts to inpatient psych hospitals (7/1/10)
Prohibits lifetime and annual benefit spending limits (plan years beginning 9/23/10)
Prohibits non‐group plans from canceling coverage (rescissions) (plan years beginning 9/23/10)
?Requires plans to cover, at no charge, most preventive care (plan years beginning 9/23/10)
Allows dependents to stay on parents? policies through age 26 (plan years beginning 9/23/10)
Provides limited protections to children with pre‐existing conditions (plan years beginning 9/23/10)
Hospitals in ?Frontier States? (ND, MT, WY, SD, UT ) receive higher Medicare payments (FY11)
Hospitals in ?low‐cost? areas receive higher Medicare payments for 2 yrs ($400 million, FY11)

2011

Medicare Advantage cuts begin
No longer allowed to use FSA, HSA, HRA, Archer MSA distributions for over‐thecounter medicines
Medicare cuts to home health begin
Wealthier seniors ($85k/$170k) begin paying higher Part D premiums (not indexed for inflation in Parts B/D)
Medicare reimbursement cuts when seniors use diagnostic imaging like MRIs, CT scans, etc.
Medicare cuts begin to ambulance services, ASCs, diagnostic labs, and durable medical equipment
Impose new annual tax on brand name pharmaceutical companies
Americans begin paying premiums for federal long‐term care insurance (CLASS Act)
Health plans required to spend a minimum of 80% of premiums on medical claims
Physicians in ?Frontier States? (ND, MT, WY, SD, UT ) receive higher Medicare payments
Prohibition on Medicare payments to new physician‐owned hospitals
Penalties for non‐qualified HSA and Archer MSA distributions double (to 20%)
Seniors prohibited from purchasing power wheelchairs unless they first rent for 13 months
Brand name drug companies begin providing 50% discount in the Part D ?donut hole?
10% Medicare bonus payment for primary care and general surgery (5 years)
Employers required to report value of health benefits on W‐2
Steps towards health insurance administrative simplification (reduced paperwork, etc) begins (5 yr process)
Additional funding for community health centers (5 years)
Seniors who hit Part D ?donut hole ?in 2010 receive $250 check (3/15/11)
New Medicare cuts to long‐term care hospitals begin (7/1/11)
Additional Medicare cuts to hospitals and cuts to nursing homes and inpatient rehab facilities begin (FY12)
New tax on all private health insurance policies to pay for comp. eff. research (plan years beginning FY12)

2012

Medicare cuts to dialysis treatment begins
Require information reporting on payments to corporations
Medicare to reduce spending by using an HMO‐like coordinated care model (Accountable Care Organizations)
Medicare Advantage plans with a 4 or 5 star rating receive a quality bonus payment
New Medicare cuts to inpatient psych hospitals (7/1/12)
Hospital pay‐for‐quality program begins (FY13)
Medicare cuts to hospitals with high readmission rates begin (FY13)
Medicare cuts to hospice begin (FY13)

2013

Impose $2,500 annual cap on FSA contributions (indexed to CPI)
Increase Medicare wage tax by 0.9% and impose a new 3.8% tax on unearned , nonactive business income for those earning over $200k/$250k (not indexed to inflation)
Generally increases (7.5% to 10%) threshold at which medical expenses, as a % of income, can be deductible
Eliminate deduction for Part D retiree drug subsidy employers receive
Impose 2.3% excise tax on medical devices
Medicare cuts to hospitals who treat low‐income seniors begin
Post‐acute pay for quality reporting begins
CO‐OP Program: Secretary awards loans and grants for establishing nonprofit health insurers
$500,000 deduction cap on compensation paid to insurance company employees and officers
Part D ?donut hole? reduction begins, reaching a 25% reduction by 2020

2014

Individuals without gov?t‐approved coverage are subject to a tax of the greater of $695 or 2.5% of income
Employers who fail to offer ?affordable? coverage would pay a $3,000 penalty for every employee that receives a subsidy through the Exchange
Employers who do not offer insurance must pay a tax penalty of $2,000 for every fulltime employee
More Medicare cuts to home health begin
States must have established Exchanges
Employers with more than 200 employees can auto‐enroll employees in health coverage, with opt‐out
All non‐grandfathered and Exchange health plans required to meet federally mandated levels of coverage
States must cover parents /childless adults up to 138% of poverty on Medicaid, receive increased FMAP
Tax credits available for Exchange‐based coverage, amount varies by income up to 400% of poverty
Insurers cannot impose any coverage restrictions on pre‐existing conditions (guaranteed issue/renewability)
Modified community rating: individual or family coverage; geography; 3:1 ratio for age; 1.5 :1 for smoking
Insurers must offer coverage to anyone wanting a policy and every policy has to be renewed
Limits out‐of‐pocket cost‐sharing (tied to limits in HSAs, currently $5,950/$11,900 indexed to COLA)
Insurance plans must include government‐defined ?essential benefits ? and coverage levels
OPM must offer at least two multi‐state plans in every state
Employers can offer some employees free choice vouchers for health insurance in the Exchange
Government board (IPAB) begins submitting proposals to cut Medicare
Impose tax on nearly all private health insurance plans
Medicare payment cuts for hospital‐acquired infections begin (FY15)

2015

More Medicare cuts to home health begin

2016

States can form interstate insurance compacts if the coverage with HHS approval (2016)

2017

Physician pay‐for‐quality program begins for all physicians
States may allow large employers and multi‐employer health plans to purchase coverage in the Exchange.
States may apply to the Secretary for a limited waiver from certain federal requirements

2018

Impose ?Cadillac tax on ?high cost? plans, 40% tax on the benefit value above a certain threshold: ($10,200 individual coverage, $27,500 family or self‐only union multiemployer coverage)

The Full PDF is avaliable at http://republicans.waysandmeans.house.gov/UploadedFiles/WM_hcr_timelinel.pdf

Joe Contrarian · Apr 1, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Illinois Democrat on O-Care: ?I don?t worry about the Constitution on this?

posted at 7:30 pm on April 1, 2010 by Allahpundit
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Note well: He doesn?t mean ?I don?t worry about it because I?ve studied the Commerce Clause and I?m confident we?ll win in court.? When pressed, he flatly says he doesn?t know which part of the Constitution justifies the law, which is his way of saying he doesn?t care and hasn?t thought about it. In fact, the best he can do by way of legal authority is to cite life, liberty, and the pursuit of happiness ? which of course comes from the Declaration of Independence. His response, when corrected? ?Doesn?t matter to me. Either one.?

All things considered, this clip?s more depressing than the already legendary Hank Johnson clip from last night. Like Madam Speaker, not only does he regard the novel and crucial constitutional issue involved to be beside the point, he almost seems irritated to be asked about it. Reason 8,293,511 why Americans now feel such utter contempt for their representatives.

Oh, and he might be surprised to know that O-Care really doesn?t insure everyone. I didn?t realize that point was still in dispute, least of all for a guy who?s read the bill, ahem, three times.

:bwah:

tank · Apr 1, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Joe Contrarian said:
Illinois Democrat on O-Care: ?I don?t worry about the Constitution on this?

posted at 7:30 pm on April 1, 2010 by Allahpundit
<small> Share on Facebook | printer-friendly </small>

Note well: He doesn?t mean ?I don?t worry about it because I?ve studied the Commerce Clause and I?m confident we?ll win in court.? When pressed, he flatly says he doesn?t know which part of the Constitution justifies the law, which is his way of saying he doesn?t care and hasn?t thought about it. In fact, the best he can do by way of legal authority is to cite life, liberty, and the pursuit of happiness ? which of course comes from the Declaration of Independence. His response, when corrected? ?Doesn?t matter to me. Either one.?

All things considered, this clip?s more depressing than the already legendary Hank Johnson clip from last night. Like Madam Speaker, not only does he regard the novel and crucial constitutional issue involved to be beside the point, he almost seems irritated to be asked about it. Reason 8,293,511 why Americans now feel such utter contempt for their representatives.

Oh, and he might be surprised to know that O-Care really doesn?t insure everyone. I didn?t realize that point was still in dispute, least of all for a guy who?s read the bill, ahem, three times.

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:bwah:

Without a doubt the dumbest waste of flesh on earth.The sad thing is that he will get re-elected more than likely.

Joe Contrarian · Apr 2, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

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Joe Contrarian · Apr 3, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Illinois Democrat: Hey, you?re totally misreading what I said about the Constitution

posted at 6:46 pm on April 2, 2010 by Allahpundit
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Not the first time this week that a Democrat?s tried to convince you that you didn?t hear what you just heard. Remember Hank Johnson?s instant classic about Guam tipping over, replete with illustrative hand gestures and the use of the word ?capsize?? Turns out it was a subtly humorous metaphor that only appeared to be serious to, er ? everyone who watched it. Same here with Phil Hare: As predicted, his spin is that he said he doesn?t worry about the Constitution on this, i.e. ObamaCare ? not that he doesn?t worry about the Constitution generally. Basically, he wants you to believe that he looked into the constitutional issues surrounding the mandate, etc., and is satisfied that O-Care passes legal muster. The only problem? It?s a transparent lie. Follow the last link and watch the original video again. He flatly says (with clear irritation) that he doesn?t know which parts of the Constitution empowered Congress to pass this thing, and the whole thrust of his shpiel during the clip is that he doesn?t care. People need coverage and that?s enough of a moral imperative to him to trump any constitutional concern. Nor is there anything ?out of context? about the clip. It picks up with the cameraman injecting a question about the Constitution and rolls until Hare leaves. QED.

Good job in glancing down at his notes repeatedly here, though, just to add that persuasive ?I?ll say whatever my cronies tell me to say to make this go away? vibe.

tank · Apr 3, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

Joe Contrarian said:
Illinois Democrat: Hey, you?re totally misreading what I said about the Constitution

posted at 6:46 pm on April 2, 2010 by Allahpundit
<small> Share on Facebook | printer-friendly </small>

Not the first time this week that a Democrat?s tried to convince you that you didn?t hear what you just heard. Remember Hank Johnson?s instant classic about Guam tipping over, replete with illustrative hand gestures and the use of the word ?capsize?? Turns out it was a subtly humorous metaphor that only appeared to be serious to, er ? everyone who watched it. Same here with Phil Hare: As predicted, his spin is that he said he doesn?t worry about the Constitution on this, i.e. ObamaCare ? not that he doesn?t worry about the Constitution generally. Basically, he wants you to believe that he looked into the constitutional issues surrounding the mandate, etc., and is satisfied that O-Care passes legal muster. The only problem? It?s a transparent lie. Follow the last link and watch the original video again. He flatly says (with clear irritation) that he doesn?t know which parts of the Constitution empowered Congress to pass this thing, and the whole thrust of his shpiel during the clip is that he doesn?t care. People need coverage and that?s enough of a moral imperative to him to trump any constitutional concern. Nor is there anything ?out of context? about the clip. It picks up with the cameraman injecting a question about the Constitution and rolls until Hare leaves. QED.

Good job in glancing down at his notes repeatedly here, though, just to add that persuasive ?I?ll say whatever my cronies tell me to say to make this go away? vibe.

<object width="480" height="385">

<embed src="http://www.youtube.com/v/6Obain3h-qo&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></object>

You knew this was coming.I would bet over half the congressmen and Senators would not be able to pass a Constitution test if they had too.They have gotten away with ignoring it for so many years and doing as they please they do not know what is in it.

brucefan · Jun 4, 2010

Re: Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

CBO Director: Hate to break this to you, but the Democrats lied about pretty much every single aspect of "health care reform"

From the "Now You Tell Us Department" comes word that the ObamaCare books were cooked. The surprising part: the Director of the Congressional Budget Office is calling the President and Congressional Democrats liars.

A common refrain from the President and his Budget Director was ?health care reform is entitlement reform.? And through two budget cycles, when senior Administration officials were pressed on their plans for deficit reduction, they always returned to the argument that health care reform would substantially improve the federal budget outlook.

CBO Director Dr. Douglas Elmendorf has shown this argument to be incorrect.

This is the best and most direct presentation I have seen on the subject. I commend Dr. Elmendorf for his honesty, clarity and bluntness. I wish he had been this blunt and this clear in February and March before these bills became law.
http://directorblue.blogspot.com/2010/06/cbo-director-hate-to-break-this-to-you.html

http://keithhennessey.com/2010/05/28/elmendorf-iom/

Dems Threaten Congressional Show Trials After US Companies Leak Real Economic Damage of Obamacare (Stalin would be proud!)

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