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WASHINGTON, D.C. - As uncertainty continues in Washington over health care reform, concern about our economy continues to grow across East Alabama.
In times when hard working families are struggling each month to make ends meet, Congress remains focused on passing a massive healthcare reform bill.
After the auto bailouts, the $787 billion Stimulus bill, a jobs-threatening Cap and Trade bill and passage of the largest budget in American history, Congress is borrowing money at the speed of light with no end in sight, and no real plan to curb the increasing national debt.
Alabama’s state unemployment rate is up to 10.4 percent, double what it was this time last year, making it painfully obvious our economy needs help to save and create more jobs.
Many of our new jobs come not from the high-profile major employers, like the auto sector, but instead from our small businesses. That’s why during the health care debate, Congress must remember not to do more harm than good by putting our jobs-creating small businesses in jeopardy.
Unfortunately, that still could happen. With no money, but big plans, the Democratic Congressional Leadership is working to figure out a game-plan to pay for what could be, down the road, an enormous government take-over of health care.
Currently, H.R. 3200 helps pays for a “public option” by putting a $544 billion surtax on high income Americans.
With recent news of big Wall Street bonuses, it’s tempting to say “tax ‘em all, they make so much already!” The reality, though, is some of Alabama’s small business owners could be pulled into the health care tax trap. That’s because a lot of these “rich” folks are actually small business owners who file their taxes as individuals.
On top of the tax hikes, there is also talk about mandating employers to offer their employees insurance coverage. If the employer can’t cover their employees, a high penalty fee will be enacted.
Now, almost all of us agree offering health insurance coverage to more workers is a good thing. The question is whether a mandate on employers – in particular our small businesses – will do the trick. Judging by the feedback I get from many of East Alabama’s employers, I am deeply concerned this mandate and higher taxes could dampen our prospects for new job creation.
Would a “public option” help all Americans have access to quality health insurance? That is debatable. But what isn’t, in my opinion, would be the fiscal cost to our nation of a government-run insurance plan, as the Federal government could kill access to private insurance while racking up more debt.
And what would that massive new Federal spending do to our already weak economy? That, of course, brings us back to the fundamental question of the proper role of the Federal government in our lives and in our economy.
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