Reid’s ObamaCare bill: $127 billion in new taxes

Senate Majority Leader Harry Reid unveiled his version of ObamaCare last night and will be formally impugning it on the public today around noon. Reid’s plan includes a government-run health care plan which, as we know, will not reduce costs or improve quality, it will have the opposite effect.

Report from Fox News:

WASHINGTON — After months of maneuvering, the Senate stands at the brink of a historic battle over health care with President Barack Obama and his allies on one side and Republicans, outnumbered but unflinching, on the other.

“Now it’s America’s turn, and this will not be a short debate,” Sen. Mitch McConnell of Kentucky, the Republican leader, warned after Majority Leader Harry Reid unveiled long-awaited legislation Wednesday night to extend coverage to 30 million more Americans and force insurance companies to take all comers.

“Higher premiums, tax increases and Medicare cuts to pay for more government. The American people know that is not reform,” McConnell said.

The Congressional Budget Office targets the 10-year cost of the health care bill at $849 billion, funded with new and higher taxes and Medicare cuts that ultimately also would cut the deficit by an estimated $127 billion, bringing the total cost of the legislation to just under $1 trillion.

This bill cuts the deficit by raising $127 billion in new taxes that you will pay. It does not reduce the deficit by cutting spending or cutting health care costs. This is an accounting joke.

Furthermore, the coverage in Reid’s plan doesn’t begin until 2014 but everyone will begin paying taxes on it immediately. There is a good variety of new ways in which the federal government will suck wealth from the private sector, we’ll know more after a little time reviewing the bill.

Once again, also an accounting joke to pay taxes on this legislation for around 5 years before it even goes into affect. Once again, this is to offset the obscene costs and manipulate the numbers.

Hot Air comments:

Another week, another “scoring” of a bill that (a) looks nothing like what it’ll look like in its final form and (b) almost certainly has been crafted to hide certain key costs (a la “doctor fix” in the House bill) to improve its “score.” Realistically, the only time a CBO score matters is when it’s bad: Were this to come in at over $900 billion or be judged a deficit-buster over the long term, it would be rejected for failing to meet the White House’s baseline demands. But this one just makes the cut, so look for the obligatory back-pat in this weekend’s presidential message about it being a “fine starting point” or an “encouraging beginning” or whatever. Reid managed to come up with a bill that isn’t too expensive … for Barack Obama. Congratulations.

Reid, like Pelosi, has introduced a terrible piece of legislation which includes government-run health care and the American need to take notice. They want to pass this quick, like Saturday quick, since that is the only way they can ram this garbage through.

Report from Politico:

In the Battle of the Health Bills, the Senate wins out, bulk-wise – weighing in at 2,074 pages.

The House health reform bill was a mere 1,990 pages when introduced.

That means the Senate bill — like the one in the House — runs more pages than War and Peace, and has nearly five times as many words as the Torah.

The table of contents alone is 14 pages.

“Read the bill!” was a rallying cry of some health reform opponents over the summer. And if Sen. Tom Coburn (R-Okla.) gets his way, senators will get a chance to hear every word of it. He’s threatening to the read the legislation from start to finish, which by some estimates could take as long as 48 hours.

Lets hope Coburn holds true on his promise to force the reading. This needs to be stopped and delayed any way it possibly can.

More to come today and tomorrow on this topic.

Update

Reid’s plan forces everyone on the Government-run health care plan to fund abortion:

Just like the original 2,032-page, government-run health care plan from Speaker Nancy Pelosi’s (D-CA), Senate Majority Leader Harry Reid’s (D-NV) massive, 2,074-page bill would levy a new “abortion premium” fee on Americans in the government-run plan.

Beginning on line 7, p. 118, section 1303 under “Voluntary Choice of Coverage of Abortion Services” the Health and Human Services Secretary is given the authority to determine when abortion is allowed under the government-run health plan. Leader Reid’s plan also requires that at least one insurance plan offered in the Exchange covers abortions (line 13, p. 120).

What is even more alarming is that a monthly abortion premium will be charged of all enrollees in the government-run health plan. It’s right there beginning on line 11, page 122, section 1303, under “Actuarial Value of Optional Service Coverage.” The premium will be paid into a U.S. Treasury account – and these federal funds will be used to pay for the abortion services.

So like it or not, you could be forced on the government-plan and then forced to pay for abortions.