Why ObamaCare Should Be Repealed

1. Over $500 Billion In Tax Hikes

2. It Destroys New Jobs

3. ObamaCare Fleeces Taxpayers Out Of $2.5 Trillion

4. Americans’ Health Insurance Premiums Will Skyrocket

5. The Unconstitutional Individual Mandate

6. Employers Will Pass On Increased Health Care Costs To Workers

7. Americans Want To Keep Their Doctors And Health Care Plans

8. Over $500 Billion In Added Debt

9. The Overwhelming Burden Of 1099 IRS Form Requirements

10.  The Destructive Impact On The Lifesaving Medical Device Industry

 1. OVER $500 BILLION IN TAX HIKES

ObamaCare Includes Nearly $570 Billion In Job-Costing Taxes

Obama Pays For His Government Takeover Of Health Care With Nearly $570 Billion In Job-Killing Taxes On Small Businesses, Investments And Innovation. (Douglas W. Elmendorf, Letter to Speaker Nancy Pelosi, 3/18/10)

“One-Third Of Employers Subject To Major Requirements Of The New Health Care Law May Face Tax Penalties…” “About one-third of employers subject to major requirements of the new health care law may face tax penalties because they offer health insurance that could be considered unaffordable to some employees, a new study says.” (Robert Pear, “Study Points to Health Law’s Penalties,” New York Times, 5/23/10)

• “If An Employer With 50 Full-Time Employees Offers Coverage And 10 Of Those Workers Receive Premium Credits, Or Subsidies, The Employer Would Face A Penalty Of $30,000. If 30 Workers Receive Subsidies, The Penalty Would Be $40,000.” (Robert Pear, “Study Points to Health Law’s Penalties,” New York Times, 5/23/10) 

 2. IT DESTROYS NEW JOBS

ObamaCare Provides A Strong Disincentive For Employers To Hire

CBO: Penalizing Businesses Who Do Not Provide Full-Time Employees Insurance Will Encourage Businesses To Cut Hours And Salaried Positions. “Alternatively, because firms are penalized only if their full-time employees receive subsidies from exchanges, some firms may instead hire more part-time or seasonal employees.” (“The Budget and Economic Outlook: An Update,” CBO, 8/19/10)

ObamaCare Is A Lose-Lose Situation For Businesses. “That’s not how the National Council of Chain Restaurants sees it. Restaurant group vice president Scott Vinson says the entire restaurant industry will have trouble dealing with costs the bill imposes in 2014, including a $2,000-per-worker penalty that companies with more than 50 employees must pay if their workers end up purchasing federally subsidized insurance rather than getting insurance from their employers. ‘There is the expense of actually providing the insurance, then the expense of not providing insurance,’ says Vinson. ‘It will be expensive either way.’” (Sabrina Eaton, “Ohio Hamburger Chain Says Insurance Reform Will Bite Into Profits,” The Cleveland Plain Dealer, 7/4/2010)

 3. OBAMACARE FLEECES TAXPAYERS OUT OF $2.5 TRILLION

ObamaCare Will Cost Taxpayers Up To $2.5 Trillion When Fully Implemented

Sen. Max Baucus (D-MT) Admits Budget Gimmick Hides True Cost Of Bill, Which Could Be As Much As $2.5 Trillion. Sen. Max Baucus (D-MT): “Just for a second — health care reform, whether you use a ten-year number or when you start in 2010 or start in 2014, wherever you start at, so it is still either $1 trillion or it’s $2.5 trillion, depending on where you start…” (Sen. Max Baucus, Floor Remarks, 12/2/09)

 4. AMERICANS’ HEALTH INSURANCE PREMIUMS WILL SKYROCKET

ObamaCare Is Causing Premiums To Rise

Health Insurers Will Need To Increase Premiums Between 1% And 9% As A Result Of ObamaCare.  “Health insurers say they plan to raise premiums for some Americans as a direct result of the health overhaul in coming weeks, complicating Democrats’ efforts to trumpet their signature achievement before the midterm elections. Aetna Inc., some BlueCross BlueShield plans and other smaller carriers have asked for premium increases of between 1% and 9% to pay for extra benefits required under the law, according to filings with state regulators.” (Janet Adamy, “Health Insurers Plan Hikes,” The Wall Street Journal, 9/8/10)

Blue Shield Of California Plans To Raise Premiums By 59 Percent, In Part Because Of ObamaCare.  “Another big California health insurer has stunned individual policyholders with huge rate increases — this time it’s Blue Shield of California seeking cumulative hikes of as much as 59% for tens of thousands of customers March 1. Blue Shield’s action comes less than a year after Anthem Blue Cross tried and failed to raise rates as much as 39% for about 700,000 California customers. San Francisco-based Blue Shield said the increases were the result of fast-rising healthcare costs and other expenses resulting from new healthcare laws.”  (Duke Helfand, “Blue Shield Of California Seeks Rate Hikes Of As Much As  59% For Individuals,” Los Angeles Times, 1/5/11)

 5. THE UNCONSTITUTIONAL INDIVIDUAL MANDATE

ObamaCare’s Unconstitutional Individual Mandate Will Raises Taxes On Middle Class Americans

ObamaCare’s Individual Mandate Will Hit Middle Class Americans, Breaking Obama’s Promise Not To Raise Their Taxes. “Nearly 4 million Americans — the vast majority of them middle class — will have to pay a penalty if they don’t get insurance when President Barack Obama’s health care overhaul law kicks in, according to congressional estimates released Thursday. The penalties will average a little more than $1,000 apiece in 2016, the Congressional Budget Office said in a report. Most of the people paying the fine will be middle class … In his 2008 campaign for the White House, Obama pledged not to raise taxes on individuals making less than $200,000 a year and couples making less than $250,000.” (Stephen Ohlemacher, “Nearly 4m People Could Pay Without Health Coverage,” The Associated Press, 4/22/10)

In The “Biggest Setback” To ObamaCare, A Federal Judge Ruled That The Individual Mandate “Exceeds The Constitutional Boundaries Of Congressional Power.” “A federal court ruled Monday that a central plank of the health law violates the Constitution, dealing the biggest setback yet to the Obama administration’s signature legislative accomplishment.  In a 42-page ruling, U.S. District Judge Henry E. Hudson said the law’s requirement that most Americans carry insurance or pay a penalty ‘exceeds the constitutional boundaries of congressional power.’”  (Janet Adamy, “Judge Cans Health Law Unconstitutional,” The Wall Street Journal, 12/13/10)

6. EMPLOYERS WILL PASS ON INCREASED HEALTH CARE COSTS TO WORKERS

As A Result Of ObamaCare, Employees Will Be Forced To Shoulder Additional Health Care Costs

As A Result Of ObamaCare, Many Companies Are Considering Changing Health Care Plans Or Shifting More Costs To Employers.  “Big employers faced with incorporating the first round of health-care changes next month are grappling with how to comply with the long list of new rules. Many companies are hiring consultants to help sort though the mountain of new mandates, which include extending dependent coverage to children up to age 26, and may eventually result in covering more employees. Some are also considering changes to their plans—including pushing costs to workers.”  (Dana Mattioli, “Firms Feel Pain From Health Law,”The Wall Street Journal, 12/13/10)

 7. AMERICANS WANT TO KEEP THEIR DOCTORS AND HEALTH CARE PLANS

ObamaCare Will Result In People Losing Their Health Care Plans And Doctors

Gov. Bredesen (D-TN):  As A Result Of ObamaCare, It Will Be More Economical For Employers To Drop Employees’ Health Care. “But there’s a very large third group that can also enter and that may have been grossly underestimated: the 170 million Americans who currently have employer-sponsored group insurance. Because of the magnitude of the new subsidies created by Congress, the economics become compelling for many employers to simply drop coverage and help their employees obtain replacement coverage through an exchange.” (Philip Bredesen, Op-Ed, “ObamaCare’s Incentive To Drop Insurance,” The Wall Street Journal,10/21/10)

Union Leader Editorial Board:  ObamaCare’s Mandates Will Result In Millions Of Americans Losing Their Health Insurance Or Doctors – Or Both. “Obama pretends that because the law doesn’t order you to change insurers, that means you can keep what you’ve got. That’s nonsense and he knows it. The law’s mandates will force insurers to make drastic changes, making it inevitable that millions of Americans will lose the coverage or the doctors they have — or both.”  (Editorial, “The ObamaCare Myth: Keeping Your Coverage,” Union Leader, 10/3/10)

 8. OVER $500 BILLION IN ADDED DEBT

ObamaCare Adds $562 Billion To The Deficit

Washington Post Editorial Board Says The Obama-Reid-Pelosi Bill Pretends To Be Budget Neutral Because Of “A Fiscal Sleight Of Hand.” “First off, $247 billion — the 10-year cost of the fix — is one whopper of a ‘discrepancy.’ … President Obama has vowed that health reform will not add a single dime to the deficit — but he is seemingly unfazed about adding more than a quarter-trillion dollars to the deficit by changing the Medicare reimbursement formula without finding a way to pay for it. … This latest maneuver only heightens the fiscal irresponsibility of what already was a fiscal sleight of hand.” (Editorial, “2.47 Trillion Dimes,” The Washington Post, 10/19/09)

Former CBO Director Douglas Holtz-Eakin: Without “Gimmicks And Budgetary Games,” The Health Care Reform Legislation Increases Deficits By $562 Billion. “In reality, if you strip out all the gimmicks and budgetary games and rework the calculus, a wholly different picture emerges: The health care reform legislation would raise, not lower, federal deficits, by $562 billion.” (Douglas Holtz-Eakin, Op-Ed, “The Real Arithmetic Of Health Care Reform,” The New York Times, 3/21/10)

• Which Includes $114 Billion To Implement ObamaCare. “Even worse, some costs are left out entirely. To operate the new programs over the first 10 years, future Congresses would need to vote for $114 billion in additional annual spending. But this so-called discretionary spending is excluded from the Congressional Budget Office’s tabulation.” (Douglas Holtz-Eakin, Op-Ed, “The Real Arithmetic Of Health Care Reform,” The New York Times, 3/21/10)

9. THE OVERWHELMING BURDEN OF 1099 IRS FORM REQUIREMENTS

The 1099 Requirement In ObamaCare Will Overrun Small Businesses With Paperwork

ObamaCare Will “Swamp U.S. Businesses With A Flood Of New Tax Paperwork” By “Radically Alter[ing] The Nature Of 1099s.” “An all-but-overlooked provision of the health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork. … The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.” (Neil deMause, “Health Care Law’s Massive, Hidden Tax Change,” CNNMoney.com, 5/5/10)

• New Burdensome Tax Reporting Requirements In ObamaCare Effects 10 Times More Small Businesses Than The Tax Credit. “BIG NUMBER - 40 million. That’s the number of small businesses that will be subject to the new health reform requirement to file 1099 forms to any vendor where they spend more than $600 in a given year. To put that in perspective, the IRS expects new tax filing requirement to effect 10 times more small businesses than the small business tax credit (earlier IRS estimates placed that number around 4 million).” (Jennifer Haberkorn and Sarah Kliff, “Politico Pulse,” Politico, 7/8/10)

10. THE DESTRUCTIVE IMPACT ON THE LIFESAVING MEDICAL DEVICE INDUSTRY

ObamaCare Will Hurt The Medical Device Industry

Due To The Medical Device Tax In ObamaCare “Many Companies Will Owe More In Taxes Than They Generate In Profits, Requiring Companies To Layoff Employees.” “MDMA is very concerned about the impact a $20B device tax will have on patient care, innovation and small businesses. . . . Under the current structure, many companies will owe more in taxes than they generate in profits, requiring companies to layoff employees, cut R&D budgets and slow the development of new therapies that will improve the quality of care for all Americans. Moving forward, these issues must be addressed before the tax takes effect in 2013.” (Medical Device Manufacturers Association Website, “House Health Care Bill Passes,” medicaldevices.org, Accessed 9/28/10)