Benjamin Rush Society
This summer the IRS is set to finish writing the rules for one of ObamaCare's new taxes--its 2.3% levy on medical device companies.
Congress should wrest the pen from the taxman's hand and scrap the tax entirely. Not only will it raise the prices American patients pay for life-saving medical equipment, it will also destroy thousands of high-quality jobs across the country.
Set to go into effect in 2013, the tax is projected to generate $20 billion over the next decade. But that prospective revenue comes at an immense cost.
America's fiscal crisis is about to explode. In 2010 state budget deficits reached an all-time high of $191 billion. Former New York Lt. Gov. Richard Ravitch has predicted that state deficits could reach a staggering $500 billion this year when the stimulus funds propping up state budgets run out in July.
And it's only going to get worse for the states under ObamaCare.
A recent study by the Rand Corp. confirms that the states simply can't afford the dramatic expansion of Medicaid mandated by the Patient Protection and Affordable Care Act.
A Plan That Leads Health Care To Nowhere
President Obama recently offered up his plan for cutting the federal budget deficit by $4 trillion over 12 years. A big chunk of those proposed savings--$480 billion, or more than 10%--is supposed to come from federal health care programs.
Unfortunately, the president plans to achieve those savings through heavy-handed rationing. Americans will lose control of their health care as government officials dictate which treatments will be available--and which cost too much money.
The centerpiece of Obama's deficit-reduction plan is the Independent Payment Advisory Board. Comprising 15 appointed experts, IPAB is charged with ensuring that Medicare spending doesn't exceed its annual target growth rate. In order to do so, the panel will have the authority to reduce reimbursement rates for Medicare providers--including both physicians and drug companies.
By Sally Pipes
The anniversary has proved especially inconvenient for former Massachusetts Governor and probable Republican presidential candidate Mitt Romney, who argued forcefully for his state's reforms. In 2006 he boldly stated, "Every uninsured citizen in Massachusetts will soon have affordable health insurance and the cost of health care will be reduced."
The Benjamin Rush Society Presents:
A hard look at criticism of physician-industry collaboration
Presented by: Tom Stossel, M.D.
Wednesday, April 27, 2011
UNIVERSITY OF COLORADO
Education II South L28-1102
Anschutz Medical Campus
Lunch will be provided
Jeffrey H. Anderson
In lieu of offering an actual budget to reduce deficit spending, President Obama has now given a speech saying that we should reduce deficits by raising taxes, cutting defense, and “strengthening” Obamacare’s Independent Payment Advisory Board (IPAB). But rather than signing on to Obama’s stated desire to give the IPAB even more power, some congressional Democrats are instead calling for that body’s outright repeal.
April 14, 2011
It was entirely predictable that the Democrats would demagogue House Budget Committee Chairman Paul Ryan's bold and fiscally sound budgetary proposal -- but it takes remarkable political brazenness for them to attack it for something it doesn't do, as they already have.
Thus, incoming party chairman Debbie Wasserman Schultz complains of Ryan's treatment of Medicare: "This plan would literally be a death trap for seniors."
The dreaded federal income tax deadline is just days away. But filing this year's taxes is a breeze compared with what we'll encounter in the future. Thanks to ObamaCare, Tax Day will pose an even bigger headache for individuals and small businesses in the years to come.
Take the law's new rules governing tax-advantaged Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). These accounts allow taxpayers to use pre-tax dollars for out-of-pocket health care expenses.