Posted on 07/17/2009 1:40:29 PM PDT by WashingtonSource
BARACK OBAMA has been pushing leaders in both chambers of Congress to produce health-care bills before the August recess, with an eye to enacting reform before the end of the year. After weeks of wrangling among the three different House committees with partial jurisdiction over the matter, the House has pipped the Senate to the post. On Tuesday July 14th Nancy Pelosi, the speaker, unveiled a grand strategy for health reform that is so far to the left of American political discourse that even moderate Democrats in the Senate (never mind the incensed and irrelevant House Republicans) held their noses.
Put simply, the House bill hopes to achieve near-universal health coverage by soaking the rich. Unlike some earlier Senate drafts, which either did not cover most of the nearly 50m uninsured or whose costs were reckoned to be a whopping $1.5 trillion or so, this new effort is a serious runner. According to a preliminary judgment by the Congressional Budget Office (CBO), which “scores” such plans, the House bill is likely to cost about $1 trillion and cover some two-thirds of the uninsured. That is a good proportion, as many of the remainder are illegal immigrants who have no chance of getting subsidised coverage under any reform.
(Excerpt) Read more at economist.com ...
If you soak them they just get wet.
Sorry, I'm done.
My father in law used to say “If it’s a good deal today; it will be a good deal tomorrow”. No rush.....
High income is not the same as wealth—it IS identical to high productivity.
Higher tax rates cause the wealthy to take their assets out of production because the increasingly meager returns cannot justify the risk exposure and tine required to manage the assets to generate profits and income.
If stupidity is the most common element in the universe, then economic ignorance is stupidity's most common isotope.
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