So do lot of you guys think the health care bill will help or bring the economy down? I heard that they added additional taxes at the end of the bill before it passed.
The bill costs $940 billion over the first 10 years and will reduce the deficit by $130 billion during that time. In the second 10 years (2020-2029) it will reduce the deficit by $1.2 trillion. This is calculated by the Congressional Budget Office (CBO) which is a non-partisan organization. However, these estimates are at a 50/50 point since the reform is a highly complicated matter that is very large and hard to break down
Source. You will just have to "wait and see" for results.
The main taxes that will pay for the bill are:
- Cadillac Tax: Insurance companies will pay a 40% tax on high-end insurance plans worth over $27,500 for families and $10,200 for individuals. (This will start in 2018)
- Medicare Payroll Tax: Charges a 3.8% tax on investment income for families making more than $250,000 and $200,000 for individuals per a year. (This will start in 2012)
- Tan Tax: 10% increase for using indoor tanning salons
Of course there are many other taxes included but these are the major ones for now. This bill will rely heavily on fixing the current medicare system and using it efficiently. Also as the wars in Iraq/Afghanistan being to settle down the U.S. will be able to allocate its budget heavily since a significant proportion of it is devoted to the Military (the second biggest portion, second only to Social Security).
SourceThat's true. I was just curious because I have quite a bit of friends accusing him to be Socialist or Communist, and they have been following the bill closer than I, so despite my willingness to stop the accusations, I'm not going to because I lack the knowledge anyway.....
If you want good unbiased info (without being accused as a socialist/communist or a teabagger)
PolitiFact and
Fact Check are good sites to gather and understand information.