Three years old, eh? Well, with any luck, you’ll leave here with a clean bill of … uh-oh. I can see one problem already. Have you seen these tax hikes?
Let’s see … five, 10, 15 … 18 tax hikes in all. Hardly seems wise, considering the fragile health of the economy, but there they are.
There’s the tax on individuals who don’t purchase health insurance. That’ll cost $55 billion over the next decade. I also see a 40 percent excise tax on “Cadillac” health plans costing more than $10,200 for individuals and $27,500 for families. It’ll be $111 billion for that between 2018 and 2022. And several smaller ones, such as limiting the amount people can set aside in their flexible spending accounts. $4.5 billion there from 2011 to 2022.
It all adds up, Obamacare. And it’s not healthy.
Hate to tell you this, but it gets worse. See this? That’s the number of people who are going to lose their current health insurance because of you. Not thousands, but millions. Seven million, according to the Congressional Budget Office (CBO). And this isn’t guesswork; it’s already happening.
Take Universal Orlando, which recently announced that it won’t continue to cover its part-time workers. Why? Not because they’re mean-hearted. Because they can’t afford it. Your prohibition of annual benefit limits beginning next year is making Universal’s health plans too expensive. Word is, this will affect about 500 Universal employees.
Or consider the American Veterinary Medical Association in Illinois. “[M]edical coverage will end for some 17,500 Association members and thousands of their dependents at year’s end,” the group says in a news release. And there are many more to come, from other employers. Ouch.
Wait. Obamacare, didn’t you say that nobody who liked his current plan would lose it? Yes. You promised it, in fact. Repeatedly. I’d better note that in your chart here.
You may be getting uncomfortable, but we’re not done yet. Over here, there’s another serious problem: You’re hurting hiring -- and right at a time when the economy could use all the help it can get to reduce unemployment.
You don’t believe it? Look at the “Beige Book,” a report that the Federal Reserve publishes eight times a year detailing the economic activity in the Reserve’s 12 different regions. According to its most recent report: “Employers in several Districts cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff.”
“Affordable Care Act.” That’s you.
There’s more. Good thing you’re sitting down. Turns out you’re making it more difficult to access Medicare services.