October 26, 2009
Details of the legislation could change, but its broad outlines are becoming clear. Employers with more than 50 workers wouldn't be required to provide health insurance, but they would face fines of up to $750 per employee if even part of their work force received a government subsidy to buy health insurance, this person said. A bill passed by the Senate Finance Committee had a lower fine of up to $400 per employee.The bill to be brought to the Senate floor would create a new public health-insurance plan, but would give states the choice of opting out of participating in it, a proposal that Senate Majority Leader Harry Reid of Nevada backed last week.
Translated into English, what this means is that employers will have to pay far more in payroll taxes, meaning they will have far less money to actually hire workers. Like always, it will be those employees on the lower end of the scale—typically minorities—that will be the most greatly affected by the change, and when I say "affected" I mean like Jody Foster was affected in The Accused.
Phillip Klein at The American Spectator notes the disaster in the making:
The major problem with this disastrous proposal should be obvious to anybody with an inkling of understanding of economics. If you make it more costly for businesses to higher lower-income workers, they won't hire as many. Simply put, if the federal government set out to create a program designed to increase the unemployment rate among the working poor, it would be hard to come up with anything better than this.
There is a reason Reagan warned that the scariest words in our language are "I'm from the government and I'm here to help," and the health care proposals being offered by Democrats are a perfect example of the unintended consequences of massive, complicated bills that Congress votes upon without even making an attempt to understand them.
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