Fortune 500 shows that last year's profits for the ten largest private insurance companies in America were eight billion-altogether. Medicare lost to faud 20 times the profit of the most profitable insurance company
It has little to do with making health care affordable for Americans and great deal to do with usurping personal choices by empowering the American Government. It is health care being delivered by the U.S. Postal Service and administered by the Internal Revenue Service.
Do you want your medications delivered to you the way this government misdelivers the mail of other people to you. Do you want your health care administered by the IRS under the Department of the Treasury? If you like how the IRS determines deductions and hunts down taxpayers for missing payments, you will love how they determine benefits and demand premiums.
Imagine another 111 bureacracies that only ultimately must listen to the Secretary of the Treasury - another "service" of which is the IRS.
This huge bill was not created because of a lack of ideas from Republicans in readable segments with alternative bills. It is inspite of them. The Democrats do not fight corruption. They reward it with trillions of dollars in pork. Medicare is failing, but wait until they make it look like ACORN.
The REPUBLICAN Affordable Health Care For America Act would be MAKING HEALTH Care Affordable For EVERY AmeriCAN.
Besides the connection to all of H.3932 above, there are connections for detailed summaries and a comprehensive list of tax hikes at the end.
Just to start with, you can start and listen to the videos at the end while you read the this:
Affordable Health Care for America Act Section by Section Analysis
Detailed Summary of Affordable Health Care for America Act
AMERICANS FOR TAX REFORM has checked this for new taxes and found a:
COMPREHENSIVE LIST OF ALL TAX HIKES IN HOUSE GOVERNMENT HEALTH BILL
Employer Mandate Excise Tax (Page 275): If an employer does not pay 72.5 percent of a singleemployee’s health premium (65 percent of a family employee), the employer must pay an excise tax equal to 8 percent of average wages. Small employers (measured by payroll size) have smaller payroll tax rates of 0 percent (<$500,000), 2 percent ($500,000-$585,000), 4 percent ($585,000-$670,000), and 6 percent ($670,000-$750,000).
Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5 percent of modified adjusted gross income (MAGI) or the average premium. MAGI adds back in the foreign earned income exclusion and municipal bond interest.
Medicine Cabinet Tax (Page 324): Non-prescription medications would no longer be able to be purchased from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs). Insulin excepted.
Cap on FSAs (Page 325): FSAs would face an annual cap of $2500 (currently uncapped). Increased Additional Tax on Non-Qualified HSA Distributions (Page 326): Non-qualified distributions from HSAs would face an additional tax of 20 percent (current law is 10 percent). This disadvantages HSAs relative to other tax-free accounts (e.g. IRAs, 401(k)s, 529 plans, etc.)
Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327): This would further erode private sector participation in delivery of Medicare services. Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1 million married filing jointly). MAGI adds back in the itemized deduction for margin loan interest. This would raise the top marginal tax rate in 2011 from 39.6 percent under current law to 45 percent—a new effective top rate.
Excise Tax on Medical Devices (Page 339): Imposes a new excise tax on medical device manufacturers equal to 2.5 percent of the wholesale price. It excludes retail sales and unspecified medical devices sold to the general public.
Corporate 1099-MISC Information Reporting (Page 344): Requires that 1099-MISC forms be issued to corporations as well as persons for trade or business payments. Current law limits to just persons for small business compliance complexity reasons. Also expands reporting to exchanges of property.
Delay in Worldwide Allocation of Interest (Page 345): Delays for nine years the worldwide allocation of interest, a corporate tax relief provision from the American Jobs Creation Act.
Jobs Creation Act Limitation on Tax Treaty Benefits for Certain Payments (Page 346): Increases taxes on U.S. employers with overseas operations looking to avoid double taxation of earnings.
Codification of the “Economic Substance Doctrine” (Page 349): Empowers the IRS to disallow a perfectly legal tax deduction or other tax relief merely because the IRS deems that the motive of the taxpayer was not primarily business-related.
Application of “More Likely Than Not” Rule (Page 357): Publicly-traded partnerships and corporations with annual gross receipts in excess of $100 million have raised standards on penalties. If there is a tax underpayment by these taxpayers, they must be able to prove that the estimated tax paid would have more likely than not been sufficient to cover final tax liability.
Page 94—Section 202(c) prohibits the sale of private individual health insurance policies, beginning in 2013, forcing individuals to purchase coverage through the federal government
Page 110—Section 222(e) requires the use of federal dollars to fund abortions through the government-run health plan—and, if the Hyde Amendment were ever not renewed, would require the plan to fund elective abortions
Page 111—Section 223 establishes a new board of federal bureaucrats (the “Health Benefits Advisory Committee”) to dictate the health plans that all individuals must purchase—and would likely require all Americans to subsidize and purchase plans that cover any abortion
Page 211—Section 321 establishes a new government-run health plan that, according to non-partisan actuaries at theHULewin GroupUH, would cause as many as 114 million Americans to lose their existing coverage
Page 225—Section 330 permits—but does not require—Members of Congress to enroll in government-run health care
Page 255—Section 345 includes language requiring verification of income for individuals wishing to receive federal health care subsidies under the bill—while the bill includes a requirement for applicants to verify their citizenship, it does not include a similar requirement to verify applicants’ identity, thus encouraging identity fraud for undocumented immigrants and others wishing to receive taxpayer-subsidized health benefits
Page 297—Section 501 imposes a 2.5 percent tax on all individuals who do not purchase “bureaucrat-approved” health insurance—the tax would apply on individuals with incomes under $250,000, thus breaking a central HUpromiseUH of then-Senator Obama’s presidential campaign
Page 313—Section 512 imposes an 8 percent “tax on jobs” for firms that cannot afford to purchase “bureaucrat-approved” health coverage; according to an HUanalysisUH by Harvard Professor Kate Baicker, such a tax would place millions “at substantial risk of unemployment”—Uwith minority workers losing their jobs at twice the rate of their white counterparts
Page 336—Section 551 imposes additional job-killing taxes, in the form of a half-trillion dollar “surcharge,” more than half of which will hit small businesses; according to a model developed by President Obama’s senior economic advisor, such taxes could cost up to 5.5 million jobs
Page 520—Section 1161 cuts more than $150 billion from Medicare Advantage plans, potentially jeopardizing millions of seniors’ existing coverage
Page 733—Section 1401 establishes a new Center for Comparative Effectiveness Research; the bill includes no provisions preventing the government-run health plan from using such research to deny access to life-saving treatments on cost grounds, similar to Britain’s National Health Service, which denies patient treatments costing more than £35,000
Page 1174—Section 1802(b) includes provisions entitled “TAXES ON CERTAIN INSURANCE POLICIES” to fund comparative effectiveness research, breaking Speaker Pelosi’s promise that “UWe will not be taxing [health] benefits in any bill that passes the HouseU,” and the President’s promise not to raise taxes on families with incomes under $250,000
Republican Response to Democrat Health Care Bill-10/29/09
Sen. Cornyn's Floor Speech on the Pelosi Health Bill and its Impact on Jobs
John Boehner quoting NTUF blog on the wording of the America's Affordable Health Choices Act