I'm thinking that the Obama administration will coast to victory riding the wave of triumph on its overhaul of America's health care system.
You've all seen the overhaul, right?
Health care is free, people look healthier.
Hope and change in action?
No?
Me, neither.
So, in his act of one of the biggest transgressions of Consitutional authority ever perpetrated on America, what good has The Man From Kenya done?
I'm a certified public accountant, so I'm going to give it to you by the numbers.
2% That's the amount of the increase in health care premiums directly attributable to the health care law's provisions. So instead of slowing premium rate increases, Obamacare has contributed to it.
You see, the illegal alien in the White House knew that the average American would believe it even if it was too good to be true, so he told you he'd save you money while increasing the administrative cost burden on yor insurance company.
What he failed to tell you is that insurance companies factor in their administrative costs when setting premium rates. In fact, ALL BUSINESSES factor in their costs when setting prices.
So if the government costs a business more, it costs you more. Remember this the next time a politician sells you a bill of goods like, "I'll only tax corporations."
50% That's the estimated reduction in contribution rates to flexible spending accounts used by an estimated 30 million US workers. These accounts allow you to pay for routine costs with pre-tax dollars (essentially a tax deduction), so your costs on such items increases by thirty percent.
33 1/3% That's not the speed of a record, that's the increase in the threshold for medical deductions on your federal tax return. Beginning in 2013, the minimum amount for deductibility rises from $7,500 to $10,000.
Other changes include a requirement that amounts paid out for health care benefits be included on your W-2. I do not want to accuse our beloved Marxist president of anything, but it sure seems to me like that may be the next tax burden you'll be faced with.
Another one that will be big for employers who do not offer health insurance will be the $2,000 penalty per employee. I am sure that those costs will not be passed along to consumers, right?
And I have not even gone into the totalitarian provisions that require religious schools to provide contraceptives and religious hospitals to provide abortions. Now that's change you can believe in....if you're a Nazi!
Perhaps the impact of Obamacare can be best summed up by the illustration below.
Bend over, America!
