Effects of the Health Care Law: Should You Worry?

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Effects of the Health Care Law: Should You Worry?

By John Jessup

CBN News Washington Correspondent

Tuesday, March 30, 2010

WASHINGTON -- President Barack Obama and congressional Democrats are selling their new health care law as a victory for American workers.

However, in light of how much it will cost to finance the reforms, the question lingers -- Are Americans really winners or losers with this new law of the land?

Economists Raise Concerns

As Americans across the country prepare to file their income tax returns, some analysts are warning about the new taxes people will be paying for the reforms in the new health care law both directly and indirectly.

"All tax increases will affect everybody to some extent, but these tax increases are legally levied on rich people," said Gerald Prante, a senior economist at the Tax Foundation.

The White House says the plan to expand coverage to 32 million uninsured Americans is mostly paid for by cuts to Medicare and increased taxes on the wealthy.

The first tax to go into effect? A 10 percent tax on the tanning industry starting July 1.

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Next year, businesses must start including the value of their employees health benefits on W-2 forms, . . .

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By the time the plan is fully in effect in 2018, those with high-value health benefits - or Cadillac plans - will be hit with a 40 percent penalty.

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Starting in 2014, the mandate that every American have health insurance coverage will translate into fines on individuals who don't buy it and employers who don't provide it.

The Indirect Effects

Meanwhile, experts say there are indirect ways Americans will be paying as well.

For example, next year drug makers and importers will start paying an annual fee raising billions of dollars in revenue. The same would apply medical equipment manufacturers starting in 2013. Those "fees" will ultimately get passed down to the consumer.

Full article and video interview

[Guest]

All this "hope & change" sounds like more taxes, more expenses for business owners, and therefore fewer jobs for the rest of us who need one.

[refugepsa91]

I own a tanning salon. The 10% tax WILL hurt me.

On top of what I pay now....who knows if I'll still be in business in a year or so. If the other restrictions/rules go through that the FDA is trying to push it will most def put me out of business....

[eagleswings]

I am NOT worried NO matter what.... I will have ultimate faith in Jesus Christ Alone....If He needs to send down manna for heaven for us He will...also I believe He will heal us and be our doctor during this time......BLIND FAITH.....

[EricH]

As Alfred E Newman said, What, me worry?

[Guest LadyC]

worried? no. annoyed? yes. disgusted? absolutely.

but i'm not worried anymore. i quit following politics as closely as i used to for one reason... it raised my blood pressure, and that's not a good thing. i mean, i don't have health problems with blood pressure, but if i'd kept watching the news as much as i used to, i would probably develop them! but the spiritual/emotional/psychological toll on me was always there. i was always angry about the way the world is going. i took it out on anyone who dared bring up the subject of healthcare, or of obama, or of tarp.... and it wasn't even limited to politics. pedophiles with probationary sentences, rampant adultery, abortion debates, heck nearly anything would set me off.

so in the last year or so i've kinda fallen into a new approach to life. i am aware but try not to think too deeply about it. my future is in God's hands. the future of america is also in God's hands. what will be, will be, and there's not really much i can do to change it. i can pray, i can vote. other than that, it's all rather pointless and just gets me riled up.

[other one]

I'm glad I'm retired. by the time this is all in place I'll be 65 and I can just go home and die.

[refugepsa91]

I'm glad I'm retired. by the time this is all in place I'll be 65 and I can just go home and die.

Yes, but....I know its not going to take effect for a few years yet....but I'm getting high hike in taxes in July 2010....so they are collecting the tax right now....

By the way...I'm sure God is gonna have all kinds of stuff for you to do when you retire...you'll prolly live to 102...

[Believer1997]

I can't worry anymore.... not going to do it. It bruises the spirit and doesn't help.

Matthew 6:25

25"Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more important than food, and the body more important than clothes? 26Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? 27Who of you by worrying can add a single hour to his life?

[refugepsa91]

I don't mean to give the impression that I'm worried about losing the store...I lay it all in God's hands...he'll provide if He wishes me to keep it. If not, I will lock up Praise Him and never look back....

Just for the record....