Thursday, November 05, 2009

The Worst Bill Ever

The Worst Bill Ever.

That's how
The Wall Street Journal characterized the House version of Health Care Restructuring introduced yesterday to a waiting world by Speaker Nancy Pelosi.

Last night on Bill O'Reilly's cable opinion show comedian Dennis Miller referred to Pelosi as "sub-reptilian." I couldn't agree with both characteristics more.

I've said before that Nancy Pelosi is the "worst Speaker of the House in United States history." I repeat that here again today. The woman, left unchecked, will destroy our country and never, ever realize what she has done.

I know I'm offending many folks and I usually don't get this emphatic, but the woman is a menace and this bill..... well, this bill is the worst bill ever.

Here are just a few of the key points from the journal article:

In a rational political world, this 1,990-page runaway train would have been derailed months ago. With spending and debt already at record peacetime levels, the bill creates a new and probably unrepealable middle-class entitlement that is designed to expand over time. Taxes will need to rise precipitously, even as ObamaCare so dramatically expands government control of health care that eventually all medicine will be rationed via politics.

All this is particularly reckless given the unfunded liabilities of Medicare—now north of $37 trillion over 75 years. Mrs. Pelosi wants to steal $426 billion from future Medicare spending to "pay for" universal coverage. While Medicare's price controls on doctors and hospitals are certain to be tightened, the only cut that is a sure thing in practice is gutting Medicare Advantage to the tune of $170 billion. Democrats loathe this program because it gives one of out five seniors private insurance options.

As for Medicaid, the House will expand eligibility to everyone below 150% of the poverty level, meaning that some 15 million new people will be added to the rolls as private insurance gets crowded out at a cost of $425 billion. A decade from now more than a quarter of the population will be on a program originally intended for poor women, children and the disabled.

All told, the House favors $572 billion in new taxes, mostly by imposing a 5.4-percentage-point "surcharge" on joint filers earning over $1 million, $500,000 for singles. This tax will raise the top marginal rate to 45% in 2011 from 39.6% when the Bush tax cuts expire—not counting state income taxes and the phase-out of certain deductions and exemptions. The burden will mostly fall on the small businesses that have organized as Subchapter S or limited liability corporations, since the truly wealthy won't have any difficulty sheltering their incomes.

This surtax could hit ever more earners because, like the alternative minimum tax, it isn't indexed for inflation. Yet it still won't be nearly enough. Even if Congress had confiscated 100% of the taxable income of people earning over $500,000 in the boom year of 2006, it would have only raised $1.3 trillion. When Democrats end up soaking the middle class, perhaps via the European-style value-added tax that Mrs. Pelosi has endorsed, they'll claim the deficits that they created made them do it.

Read the entire article.


shoo said...

You have to be the only liberal on the planet who I agree with more often than I do not.

It is amazing to me that so many people are so blind to the obvious truths in this debate. If they just wanted to accomplish the stated goals, this would be relatively easy. Unfortunately, this has never been about improving health care. It has always been about increasing government control and power.

Oso said...

Hi Wizard,
I think O'Reilly is the worst Bill ever.

Watchmaker said...
This comment has been removed by the author.
Bob Keller said...

It will come as a surprise to absolutely no one that Nancy Pelosi is violating her iron clad guarantee and promise to have the full Health Care Restructuring Bill on-line for a minimum of 72 hours prior to a vote.

Once again reptilian Pelosi is going to cram down a 1,900 page bill of monsterous complexity and dupicity without anyone being able to read or analyze the bill - - including Congress Persons themselves.

Today, November 6, 2009, the United States has the finest Health Care Infrastructure in the world. We need (and will still need) avenues for the poor, out-of-work, aged and disabled to access the system. This bill fails miserably to accomplish that.

What this bill will do is demolish the system that is the crown jewel of Health Care in the world.

No self respecting liberal would ever support this bill, let alone vote for it. Progressives may be on-board because they care not what happens to the system as long it progresses toward their nebulous goal of a single payer system. And Nancy may be able to frighten small insects in Congress to cast a vote they know in their hearts and minds is wrong.

Bob Keller said...

Oso, That is one great and funny comment.

Worst Bill ever.... I love it!

Unknown said...

And here I was going to say Clinton was the worst Bill.

I did find this both good news and frustrating at the same time.

Will "take no prisoners" Hart said...

The real danger (well, in addition to the deficit spending, etc.) is that a lot of doctors just won't accept Medicare (like the 50% who already don't take Medicaid) anymore. Then, where will we be?

Oso said...

I almost nominated him, O'Reilly won the coin flip !

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