Utopia in our time

Betsy McCaughey:

If you get your health insurance through a job, you might lose it as of Jan. 1, 2014. That’s when the new “employer mandate” kicks in, requiring employers with 50 or more full-time workers to provide the government-designed health plan or pay a fine. The government plan is so expensive, it adds $1.79 per hour to the cost of a full-time employee…

Cuts to future Medicare funding pay for more than half the Obama health law. Hospitals, for example, will have $247 billion less to care for same number of seniors than if the law had not passed. Hospitals will spread nurses thinner. California nurses already are striking over the increased workloads…

the federal government will control how doctors treat privately insured patients. Section 1311 of the law empowers the Secretary of Health and Human Services to standardize what doctors do. Even if you have a private plan from Cigna or Aetna and you paid for it yourself, the federal government will have some say over your doctors’ decisions…

If you sell your house and make a profit, you’ll likely be paying a new 3.8 percent tax on the gain. The law includes about half a trillion dollars in tax hikes, including a new 3.8 percent tax on gains from selling any asset, including your home, small business, stocks or bonds, effective Jan. 1, 2013. That’s on top of capital-gains taxes and applies to any profit that pushes your income over $200,000.

These changes are spelled out in the 2,572-page law, but many more changes will be imposed by regulations yet to be written.

Conrad Black adds to the cheerful mood as he assesses America’s current place in the world.

2 Responses to “Utopia in our time”

  1. Maggie's Farm Says:

    Saturday morning links…

    So how’s it going in Sandyland? Retirement Plans Can Make Loans, Hardship Distributions to Sandy Victims The best thing I ever did for my kids’ education is getting her out of the Saskatoon Public School System Merrill on “Fear of Fracking” M…

  2. Becky Says:

    What we are seeing with the fast food and resturant industries curtailing employment and benefits makes sense. Retail should be following soon. Both are low margin industries that were still employing full time employees with at least some benefits. And in a poor economy both of these industries have a hard time with sales. The fastest way to help the bottom line is with layoffs and reductions in employment expenses, for they usually consume a significant portion of the budget and are the quickest to change. You cannot do much about the electric bill, etc.

    Like cash for clunkers this is a redistribution of wealth from the underclass to the upperclass, only in this case, the only winners I see are the new government employees.

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