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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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As 2014 dawns, ObamaCare's most disruptive changes to the health care system are just now getting under way. For American businesses, that means a raft of new taxes that will pose devastating consequences for their employees and the broader economy.
Paramount among them is a new tax on health insurers (HIT) that's projected to "hit" them for more than $100 billion over the next decade. ObamaCare's architects intended to eat into the margins of insurers with this levy — and even set it proportional to each company's market share, so that bigger insurers pay more.
But the truth is that firms in every sector will pay it, as insurers will simply pass the tax along to employers in the form of higher premiums.
Indeed, premiums are expected to jump 2% to 3% over the course of this year thanks to this tax. By 2023, they could be about 4% higher.
Read it all.
Filed under: * Culture-Watch Health & Medicine --The 2009 American Health Care Reform Debate Law & Legal Issues * Economics, Politics Economy Consumer/consumer spending Corporations/Corporate Life Labor/Labor Unions/Labor Market Personal Finance
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