By Bill O'Reilly
As you may know, President Obama has said in the past that the affordable healthcare law will eventually make healthcare less expensive in America. It might happen -- probably not. According to an op-ed today in the "Wall Street Journal," spending on healthcare will reach almost $3 trillion this year alone. That's more than 25 percent above what was spent in 2007. In fact the Centers for Medicare and Medicaid estimate healthcare spending will rise to $5 trillion a year in this country in 2022.
So again, it is the affordable healthcare law, is it not? But affordable for whom? Not me, not profitable business people. My Medicare payroll tax up big time and there is now a 3.8 percent tax hike on investment income for American households taking in $250,000 or more a year. There are also new taxes on Medical equipment, Medical insurance companies, charitable hospitals and drug companies. All of those taxes will be passed back to we the people in the form of higher fees. The truth is that no one, no one accept those receiving free or subsidized healthcare from the government will pay less for health insurance -- no one.
That's because the feds are spending close to $2 billion this year and another $2 billion next year just to set up the Obamacare apparatus. In addition the 16 states that run their own healthcare exchanges will receive more than $4 billion in federal grants. Taxpayers footing the entire bill.
As far as business is concerned, 28 percent of all business in America say they will drop healthcare coverage for employees by 2015 -- almost a third. In addition, a survey by the U.S. Chamber of Commerce says around 60 percent of business people believe Obamacare is going to hurt their bottom line. And one more the American Enterprise Institute a conservative think tank estimates that 80 million Americans who currently have employer health plans could find their coverage canceled under Obamacare 80 million.
I'm sorry about all the stats. But you've got to know this stuff. The affordable healthcare law will change your life and my life. Unless you are a millionaire, who can afford to pay all health bills out of pocket, you are going to get hosed.
For most Americans, Obamacare will make life far more complicated and drive up healthcare premiums. That's the truth. There is no getting around it. More money out of your pocket, fewer doctors available and businesses cutting back on benefits and hiring -- those are the consequences of Obamacare. And if anyone, anyone tells you differently, they are not telling you the truth.
And that's "The Memo."