Collects revenues for ten years but delivers only seven years of medical insurance benefits.

It doesn’t insure all Americans (only 96%) according to Nancy Pelosi the Democratic Rep. from San Francisco, CA. The House Majority Whip Pelosi (nominated by Rahm Emanuel in 2006) stated the bill will be passed. 

Additional tax on incomes over $500,000 will cause some businesses to fail.  Others will increase retirement contributions to post less income and avoid the tax.  And, as with any redistribution of wealth scheme , employers will raise prices of goods and services to consumers to cover the costs.  Thus, this is a tax on all consumers as we will have to pay more for goods and services to cover the “rich” guys new tax burden.  The beneficiaries are taxing entities as homes and other goods increase in cost the sales tax and property taxes increase.  It isn’t any wonder why owning a home is a disappearing dream for many Americans.  Stop causing inflation by raising taxes.

Don’t count your chickens before they hatch.  Some versions contain a 40% tax on “Cadillac” plans which may bring in zero revenue.  Unions and others with “Cadillac” plans will decrease their coverage below the “Cadillac” threshold.  (no new taxes on Americans?)

There is language in the bill that states 8% income tax on employers and 2.5% income tax on wage earners that do not buy medical insurance. (no new taxes on Americans?)

There are proposed 2.5% taxes on medical appliances such as pacemakers .  (no new taxes on Americans?)

Projected savings of $460 billion in Medicare has no empirical basis and is based on “hope”.  Indeed, it may cut Medicare benefits to seniors.  The Administration had no problem in denying seniors a Social Security raise.  So seniors shouldn’t object to paying more for their Medicare benefits and receiving less care.

Insurance across state lines may increase competition but may not reduce rates significantly.  Increases in marketing expenses to retain or increase market share will offset gains.

Access to insurance across state lines without regard to pre-existing conditions will lead to consolidation of health insurance companies that are located in a few states*. 

There will be no need for insurance companies in many states as consumers will purchase their coverage over the internet.  This will result in closure of smaller insurance companies/ agencies and an increase in unemployed insurance workers eg. agents,  clerical staff.  This will also cause a loss in property taxes, corporate taxes, franchise taxes and state income tax in those states that have a state income tax.

States in massive debt such as California need the “Public Option” to shore up their failing finances by plugging up the holes in their mismanaged health care system.  The healthy folks in your state will pay for this. 

Medical use of marijuana is legal in a number of states including California (Pelosi) and Nevada (Reid).  Your hard earned dollars may go to pay for doctor’s visits and prescription marijuana.

A million or more unemployed insurance industry workers will strain Unemployment Compensation Benefits.  Many will lose their homes. 

The increase in foreclosures will strain banks and the credit industry.  Housing market will be affected and home values will decrease.  The decreasing property tax revenues will mean less money for school districts thus impeding delivery and quality of education. 

The IRS will be responsible for collecting taxes imposed by the Health Care bill.  If you don’t pay you may face a federal lien on your home or other property. 

It appears that this bill will eventually funnel healthcare management to one vendor.   Blue Cross currently insures around 40% of the population.  As competition strangles its competitors they will be in the best position to assimilate failing health care insurers.

Eventually, the more economical government run Public Option plan will attract many Americans that want more affordable coverage.  When it becomes too large for the government to manage it can be merged with Blue Cross thru a government contract.  So over 300 million Americans will have their medical insurance serviced out of Chicago, Illinois.  Coincidence?