Political Quotes

“Madam President, this is not the only job-killing provision in this bill, this brandnew 3.8 percent tax increase that will attack savings and investment. Other examples of job-killing proposals in this bill include increasing the hospital insurance payroll tax. This tax is increased to 3.8 percent. It will hit thousands of small businesses that file as subchapter S corporations and pay taxes at individual rates. In addition, this revenue will not be used to pay for Medicare but will be used to fund a brandnew entitlement. Another job-killing proposal in this bill includes new taxes and fees on health care consumers. That is right, the very people for whom we are trying to lower costs and trying to make health care more affordable, many will have to pay additional taxes and fees to the tune of $100 billion which both the Congressional Budget Office and the Joint Tax Committee have confirmed will inevitably be passed down to consumers. Then there are the higher premiums for individuals who do not get their health coverage from their employer but have to go into the group market. We are talking about a lot of small businesses, individuals, partnerships, sole proprietors, and the like. One consulting firm concluded that premiums in the group market could go up as much as 20 percent because of the mandated, government-approved insurance that has to be sold under this bill. CBO said they concluded a somewhat lower level--between 10 and 13 percent.…”