Update: Baucus healthcare bill released: Jay Rockefeller (D-WVA) acknowledges increased company costs are passed to consumers…

Update: Baucus Bill – ‘Chairman’s Mark’ released, PDF here courtesy of WSJ

…The measure would create a new national insurance exchange, where individuals and small businesses can purchase insurance. Individuals would be required to purchase insurance, but those at the lower end of the income ladder would receive federal tax subsidies to defray the cost. (Read the full text of the Baucus plan.)…

wall_st_bear_smallOf course, he is talking about the coal miners and their self funded benefit plans being INCLUDED in the GIANT TAX that Baucus wants to lay onto ‘Cadillac’ health care plans (recall months ago they tried to float a tax with a union ‘waiver’ -as IF!) if Baucus would give us the TAX CREDIT that Mac floated in the campaign to accompany the giant tax we would all be fine with it, but nooooooooo…

Now if Jay will LISTEN TO HIS OWN WORDS, he will understand why NO TAX INCREASES are a good idea in a recession!


(…)Referring to Baucus, Rockefeller said, “He should understand that (his proposal) means that virtually every single coal miner is going to have a big, big tax put on them because the tax will be put on the company and the company will immediately pass it down and lower benefits because they are self insured, most of them, because they are larger. They will pass it down, lower benefits, and probably this will mean higher premiums for coal miners who are getting very good health care benefits for a very good reason. That is, like steelworkers and others, they are doing about the most dangerous job that can be done in America.”

“So that’s not really a smart idea,” Rockefeller continued. “In fact, it’s a very dangerous idea, and I’m not even sure the coal miners in West Virginia are aware that this is what is waiting if this bill passes.”

Rockefeller made his comments on a conference call with reporters which was sponsored by the liberal Campaign for America’s Future(…)


September 16, 2009. Tags: , , , , , . Economy, Finance, Healthcare, Obama Administration, Politics, Taxes.

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