A year ago the Tea Party was protesting against the various health care bills being floated around Washington. Town Hall meetings were getting started and the politicians soon realized their constituents had concerns and voiced them. most of us were trying to understand what the various options meant and how they might affect the wellbeing of our individual families. The details of the approved legislation have moved out of the backrooms and slowly surfaced for us to see.
Health care passed on a snowy night just before Christmas, under less than open circumstances and cries of foul, bribery and political payoffs surrounded the whole affair. This single piece of sweeping legislation put the government in charge of health care, which represents a sixth the GDP (Gross Domestic Product).
Some say this is good, since 32 million uninsured Americans will now have health care coverage. Politicians have argued that the government plan will save money, but as elements of the more than two-thousand page bill become understood, it is apparent this was at best wishful thinking and at worst an outright lie. That’s for you to decide.
It seems, however, that the American public is not buying the health care plan, because 56% of likely voters favor repealing the current bill. a recent Rasmussen poll also showed 62% of those surveyed expect health care will add to the spiraling national debt, 53% believe their care will get worse and 61% say medical costs will go up.
Those receiving Medicare benefits appear to be caught in the grip of an ever-tightening vice. The government intends to slash Medicare spending by $500 billion through managing waste, fraud and abuse. Since such steps could have been taken anytime over the years, it appears as if this is just more political chatter. Folks 65+ are concerned they are going to be nickel and dimed to death through a series of small taxes and fees topped off with poorer quality care. not a promising prospect for a graying America.
Next, taxes will be levied on retirement benefits. Increased capital gains will have the effect of reducing the net income for New Seniors, making it impossible for investment portfolios to attain previous highs as principal is needed to cover living expenses. an energy tax, cap and trade, looms on the horizon as does the VAT (national sales tax). Implementation of aforementioned programs could reduce net dollars those on fixed incomes by possibly 10 to 25%. plus the previous administration’s tax cuts are about to expire. This, in effect, would be a tremendous tax hike for many.
The above programs are far reaching and interconnected in many ways. The real impact of them will not be realized for years to come. but Americans don’t like the unknown. even worse are surprises, which throw the citizenry for a loop. That’s why everyone must become informed and be sure to vote in November for candidates who understand and share your points-of-view. but for New Seniors it may be a matter of survival.