Source:
Healthcare Reform Bill Is Just The Latest Step Toward Nationalized Healthcare
Henry Blodget
Tech Ticker, Mar 22, 2010
http://finance.yahoo.com/tech-ticker/healthcare-reform-bill-is-just-the-latest-step-toward-nationalized-healthcare-446767.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Signs continue that European markets are getting tired. The Spanish and Italian stock markets, big beneficiaries of the sharp decline in their bond yields over the past few months are falling to the lowest since Feb 1. The European bank index is at a 1 1/2 week low after earnings reports from Commerzbank and Credit Ag (RBS bouncing although reporting weaker than expected earnings) were disappointing. This market action is in spite of the German IFO business confidence figure which rose to a 7 month high coming in a touch above expectations and Italian consumer confidence which bounced more than...
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March 23rd, 2010 at 7:24 am
Health care bill is just a step towards total insolvency. FYI, we now have an elite class that makes laws for commoners – these 535 (Ron Paul and a few others excluded) pieces of sh*t don’t have to abide by the law they just passed.
I hope everyone understands that if you want to pass on a vaccine laden with mercury – you now can’t.
I’d read what Dr. Ron Paul (R- Texas) has to say and what Denninger read and posted.
This bill and these f*cking morons up there should be tried for treason for financial and constitutional malpractice!
http://www.dailypaul.com/node/129690
The Federal Government’s proposed mandatory health insurance will mean mandatory vaccinations/immunizations. The Center for Disease Control (CDC) says that for anyone who refuses to keep up-to-date vaccinations, …
http://market-ticker.denninger.net/archives/2109-Health-Care-Arbitrage-Obama-And-The-Dems.html
If you refuse to buy health insurance, you will be fined on a sliding scale that amounts to 2% of your AGI. So if you make $100,000 a year, you could be fined $2,000 for “refusing” to buy insurance.
You cannot buy a catastrophic policy any more. The “cheapest” acceptable policy will cost somewhere around $15,000 for a single person, and over $20,000 for a family. This is, for most people, more than five times the maximum possible fine – each and every year. The law makes it effectively impossible to maintain an existing catastrophic policy as they “renew” every year, and should any change be made you are then forced to buy something “acceptable” in the law (or pay the fine.)
When the “pre-existing condition” bar comes down you cannot be charged more or denied coverage due to pre-existing conditions.
I fully expect 20-50% premium increases immediately, and for the next three years sequentially, in all existing policies. This is precisely what the banks did in front of the CARD act becoming effective, and it will happen here as well. That is the cause of the short-term rocket shot in the health-related stocks this morning.
In addition the capital gains tax changes will do severe damage to capital formation immediately, and these changes will become especially severe starting in 2014. The market will anticipate these changes and react accordingly, although you certainly wouldn’t know it today.
March 23rd, 2010 at 8:46 am
Let us hope the main thesis of this post is correct. All this bill does is prop up a corpse.
March 23rd, 2010 at 6:05 pm
There seems to be so much real fear of this health care reform process. The object is to help control long term costs, insure all citizens, and end insurance company abuses. What could be wrong with that?
You can keep health insurance private and cover everyone and still keep costs reasonable. The Swiss, Dutch and Germans all do this an manage better health care outcomes at lower cost than we do.
Granted some of other societies health cost are lower because their doctors do not earn as much, however that only explains part of the difference in cost.
The real issue we should decide as a nation is whether or not health care is a right. It is currently a de-facto right, you will get care regardless (although that often means bankruptcy). So we pay for everyone’s health now. What we need to do is to make it more efficient.
March 23rd, 2010 at 6:44 pm
“The object is to help control long term costs, insure all citizens, and end insurance company abuses. What could be wrong with that?”
Wrong question. You either know that already, or you’re totally gullible. The question is, WILL this bill do any of the above?
As for long-term costs (or short-term), the bill itself is a total lie. The bill the gave the CBO takes out the so-called “Doc Fix” (because it adds several hundred billion to the price tag). The CBO “scores” it as if the Doc Fix isn’t in there, even though Pelosi slipped the other day and admitted that it will be passed separately. Everyone knows they will pass the “Doc Fix”, otherwise hospitals and doctors will see an immediate c.20% drop in reimbursements — no one expects that to happen, nor should it.
Plus, the bill includes as revenues things like Social Security tax increases and premiums paid into the long-term care program (I forget its acronym at the moment).
This is flagrant off-balance sheet accounting. Obama promised he wouldn’t pass a bill that “adds one penny to the national debt.” Well guess what, he either can’t count or HE LIED.
For the record, I’m not a Republican.