I got this from a friend who works on budget issues in Congress, and he/she assured me the reasons are accurate — that is all I know, but if true, this list would explain why insurance stock just rose to all time highs.
Top 10 Reasons to Kill Senate Health Care Bill
- 1. Forces you to pay up to 8% of your income to private insurance corporations — whether you want to or not.
- If you refuse to buy the insurance, you'll have to pay penalties of up to 2% of your annual income to the IRS.
- Many will be forced to buy poor-quality insurance they can't afford to use, with $11,900 in annual out-of-pocket expenses over and above their annual premiums.
- Massive restriction on a woman's right to choose, designed to trigger a challenge to Roe v. Wade in the Supreme Court.
- Paid for by taxes on the middle class insurance plan you have right now through your employer, causing them to cut back benefits and increase co-pays.
- Many of the taxes to pay for the bill start now, but most Americans won't see any benefits — like an end to discrimination against those with preexisting conditions — until 2014 when the program begins.
- Allows insurance companies to charge people who are older 300% more than others.
- Grants monopolies to drug companies that will keep generic versions of expensive biotech drugs from ever coming to market.
- No re-importation of prescription drugs, which would save consumers $100 billion over 10 years.
- The cost of medical care will continue to rise, and insurance premiums for a family of four will rise an average of $1,000 a year — meaning in 10 years, your family's insurance premium will be $10,000 more annually than it is right now.
Background information on each point:
- Hardship Waiver And Restrictions On Immigrants Buying Insurance Undercut Arguments For An Individual Mandate, by Jon Walker
- What's in the Manager's Amendment by David Dayen
- MyBarackObama Tax by Marcy Wheeler
- Emperor Ben Nelson: All Your Uteruses Are Belong To Me by Scarecrow
- The Senate Bill is Designed to Make Your Health Insurance Worse by Jon Walker
- Best way to “Fix It Later” Is With No Individual Mandate Now by Jon Walker
- The Senate Health Care Bill is Built on a Mountain of Sand by Jon Walker
- The Devil in Anna Eshoo's Details by Jane Hamsher
- Liveblog of the Dorgan Reimportation Amendment by David Dayen
- Answering Nate Silver's 20 Questions on the Health Care Bill by Jon Walker
The Senate bill isn't a “starter home,” it's a sink hole. It needs to die so something else can take its place. It doesn't matter whether people are on the right or the left — once they understand the con job that's about to be foisted on them, they agree. That's why Harry Reid and President Obama are trying to jam it through as fast as they can, before people get wise. So email the list to your friends and family, tweet it and spread the word.
Phi Beta Iota: Some of the above links are broken, but we completely agree that this kind of information should be placed before the public.