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Government Health Care Costs to be Paid Through “Efficiency” and Taxing “The Rich”

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During Obama’s “Town Hall” today in Montana, he explained that the estimated cost of his Government-run Health Care Plan ($90,000,000,000 per year) would be funded as such:

$60,000,000,000 ($60 billion) / year from savings through “efficiency.”

$30,000,000,000 ($30 billion) / year by reducing tax deductions taken by “the rich.”

Of course, if the costs of Government Run Healthcare turns out to be more expensive, what does this mean?  Keep in mind, Medicare has ultimately cost almost 10 times what was originally estimated.

Also, what does he mean when he says he will improve “efficiency”?  He mentioned cutting Medicare supplements, but isn’t that reducing people’s actual coverage?  In typical fashion, he’s used terms that are so vague they are open to any number of possible interpretations.  This has fueled one of the many concerns of those of us creating what Obama called a “ruckus” at recent Town Hall meetings.

How does one increase “efficiency” as it applies to health care?  Will this result in reducing the quality of care being provided, or by rationing the amount of care given?  Will this result in paying doctors less to reduce overhead, thus encouraging them to relocate to other countries?  Needless to say, the questions surrounding how Obama would achieve $60,000,000,000 ($60 billion) in “savings through efficiency” each year are numerous and multi-faceted.

Let’s also consider the class-warfare argument waged by Obama, as he proposes at least $30,000,000,000 ($30 billion) a year in increased health care revenues through reducing the deductions allowable by the “rich” from 35% to 28%.  One key example Obama used was with regards to a “rich” person giving to their local church.  Why, he argued, should that person get a deduction “just because he makes more money.”

Ultimately, not-for-profit organizations will suffer greatly from this change, as charitable donations will necessarily decrease.  While many do give to charitable organizations for ethical and moral reasons, many also do in order to realize tax benefits.  In either case, these charitable organizations benefit immediately from these direct cash donations.

Under Obama’s suggested “tax on the rich,” these funds will go directly into Big Government’s pockets, to spend as they see fit.  We are told the money will go directly towards finishing off the zero-balance funding this health care package.  Does this not equate to using charitable not-for-profit organizations to help fund the Obama Health Care Package?  Further, even the least skeptical amongst us would have to wonder: Even if a minimum of $30,000,000,000 ($30 billion) a year could be raised by taking money away from charitable donations made by “the rich,” would it actually cover the rest of the costs of this massive health care package?

After all, when has the government been wrong about how much one of its programs would cost?  Sure, Medicare has cost almost 10 times what was originally thought.  Suppose Obama-care only costs 5 times more than what is expected.  We’ll only need another $360,000,000,000 per year ($360 billion).  Let’s also not forget that the Congressional Budget Office, the bipartisan gold standard, has estimated the cost of this massive proposal to be well in excess of $1,000,000,000,000 ($1 Trillion) … with a “T” … (as in one million million) dollars over 10 years. It’s unlikely we will be able to fleece “the rich” for that much money, which would leave the government with the unenviable task of finding ways to be a little more “efficient” in the way they cut back on health care expenses.

What could possibly go wrong?

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Written by ericcvorst

August 14, 2009 at 3:49 pm

Posted in Main Page

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