If you have been reading my blog or newsletter for awhile, you can imagine my view on the new health care bill. I realize this blog is primarily concerned with asset protection planning, so bear with me while I get to the ‘what’s in it for me’ question.
I agree with most Americans that the current health care situation sucks. It truly sucks. It consumes 16% of our GDP and yet less than 10% of that figure actually trickles down to doctors. Where is this money tied up? Primarily in government regulations and litigation. The mountain of filings and forms that must be filled out is truly a barrier to entry for any aspiring doctor. Honestly, I cannot imagine wanting to become a doctor right now.
And the grand solution for this disaster?…..Wait for it….More government regulation. Yes sir ladies and gentlemen, we are going to fix our problem of too much red tape, with more red tape. 3M should figure out how to capitalize on this. A new analysis by the Joint Economic Committee and the House Ways & Means Committee just estimated that the IRS will add another 16,500 new jobs to examine and audit new tax information regarding the health care bill. Excellent, just what we needed; more overpaid government workers to harass us each year about an already ridiculously complicated tax system that creates criminals out of citizens who are unable to decipher the code.
As best I can tell, the CBO, congressional budget office, has yet to produce a reasonably accurate fiscal budget. Much less predict the future 10 years out. This new health care bill is proposed to cost taxpayers $938B, but somehow will reduce the deficit by $143B over the next decade. Huh? I don’t trust the accountants and economists one bit. I mean, they never have been right, why start now.