Top 10 Reasons Obamacare Must Be Repealed
1.
Obamacare will cause millions of Americans to lose their current insurance2.
Obamacare adds trillions of dollars in new taxes, including a devastating tax onmedical device manufacturers3.
Obamacare will increase the debt by hundreds of billions of dollars4.
Obamacare will destroy jobs in a struggling economy5.
Obamacare will cause Americans’ health care premiums to skyrocket
6.
Obamacare is unconstitutional7.
Obamacare will lead to rationing of health care by Washington bureaucrats8.
Obamacare is an assault on religious liberty and freedom of conscience9.
Obamacare’s exchanges limit consumer choice, drive costs up, and illegally expa
ndtax credits10.
There is a better path forward
The following document was compiled using source material from the House GOP Conference ,
employer penalties, nearly half of all surveyed employers said they would drop or change theiremployee coverage plans after 2014.A similar 2011 study by Deloitte found that up to 65 million Americans could lose their
employer-sponsored health insurance because of Obamacare's employer mandate requirement.The report found that 71 Fortune 100 companies responding to the survey could save almost $30billion in 2014 alone by eliminating employer-sponsored health plans and instead paying theemployer mandate penalty.
The Congressional Budget Office and the Joint Committee on Taxation now predict that a net
total of 3 to 5 million people will no longer be able to obtain health coverage through theiremployers
each year from 2019 through 2022 as a result of the president’s law.
Former CBO Director Douglas Holtz-Eakin has concluded
the president’s health care law provides “strong incentives for employers…
to drop employer-sponsored health insurance for asmany as 35 million Americans, perhaps leading to widespread turmoil in labor compensation andemployee insurance coverage.
”
2.
Obamacare adds trillions of dollars in new taxes, including a devastating tax on medicaldevice manufacturers:
According to a recent report from the Joint Economic Committee (based on CBO data), the
president’s health care law will add an additional $4 trillion in new taxes onto the economy
between 2012 and 2035. The tax burden may have been just $15 billion in 2012, but in 2035 thatburden will be magnified more than twenty-fold to $320 billion.Obamacare contains 18 separate taxes. These taxes will not be restricted to the wealthy andprofitable healthcare businesses. Instead, the weight of $4 trillion in new taxes will be spreadacross all sectors and all income classes as incomes and economic growth decline. One of thelargest tax increases just took effect at the beginning of this year: a .9% increase in Medicaretaxes for individuals earning more than $200,000 a year, estimated to yield nearly $318 billion innew revenue through 2022. This tax is on top of the increased rates on individuals making morethan $400,000 due to the fiscal cliff deal.One particularly egregious tax targets medical device manufacturers, many of whom arebased in Indiana. Shortly after Obamacare was enacted into law, 90 of the 100 medical devicefirms attending a conference in Boston stated they would be forced to reduce costs, such as labor
expenses or research and development costs, because of Obamacare’s
2.3 percent excise tax onmedical devices.Medical device manufacturer Boston Scientific announced that it plans to lay-off 1,200 to
1,400 Americans, shifting those jobs to China. Stryker Corporation, an orthopedic-devicebusiness based in Michigan, announced plans to cut five percent of its workforce over concerns
about the medical device tax. And some Indiana innovators, including Zimmer and Hill-Rom,
have also been forced to schedule hundreds of layoffs as a result of this tax.In February 2012, Rep. Todd Rokita led 74 colleagues in a letter to House leadership urging
them to repeal the medical device tax. In June 2012, the House of Representatives voted to repealthe tax, but President Obama threatened to veto the bill if it reached his desk, and the Senate didnot act to repeal it
3.
Obamacare will increase the debt by hundreds of billions of dollars
:According to a recent report by Medicare public trustee Charles Blahous, after taking into
account Medicare double-
counting and other unrealistic assumptions, the president’s health
carelaw will likely increase the deficit by at least $340 billion between 2012 and 2019. The White
response to the report noted favorable scores from the Congressional Budget Officeeven though CBO itself admitted that the major savings assumptions in the law were unrealistic
and unlikely to be sustained over the long-term.The fact of the matter is, CBO was required to play along with the budget gimmicks thepresident used to pass this law, masking $841 billion worth of increased costs. These gimmicks
include double-counting Medicare savings ($400 billion), not paying for the Medicare doc-fix($208 billion), not accounting for the cost of implementation ($115 billion), and more.Obamacare also enacted tax hikes immediately, while delaying new program spending for 4years to give the illusion of savings. If these gimmicks had been properly accounted for in 2010,Obamacare would have actually increased the deficit by nearly $700 billion.In a March 2010 op-ed for the New York Times,former CBO Director Douglas Holtz-Eakin
said: “…if you strip out all the gimmicks and budgetary games and rework the calculus…[t]
hehealth care reform
legislation would raise, not lower, federal deficits, by $562 billion.”
4.
Obamacare will destroy jobs in a struggling economy:
A recent small business survey by the U.S. Chamber of Commerce found that nearly three
quarters (73%) of small businesses surveyed cite the president’s health care
law as an obstacle togrowing their business and hiring more employees.According to a February 2012 Gallup poll,almost half of small businesses said they were not
hiring due to concerns about possible rising health care costs and worries about new governmentregulations.The Wall Street Journal profiled a growing small business in January 2013 that is trying to
keep their employee roster under 50 people, even though they are poised to triple their businessthis year. If the company crosses the 50-person threshold, they will have to provide government-approved health insurance, or pay a penalty. This is why many small businesses are hiring morepart time employees and subcontractors.In a January 2012 U.S. Chamber of Commerce survey of small businesses, 74 percent said
that the health care law makes it harder for their firms to hire new workers and 30 percent saidthey are not hiring at all thanks to the law.The non-
partisan Congressional Budget Office (CBO) concluded that President Obama’s
health care law will reduce the labor supply by 800,000
thanks to the law’s perverse incentives,
which ac
cording to CBO “will effectively increase marginal tax rates,” thereby discouraging
work. Other estimates are as high as 670,000 lost job opportunities per year.
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