Consumers bracing for tax hikes from the health care law
Report: ObamaCare expected to cost taxpayers $805 billion
- Duration 8:17
- Date Jun 30, 2012
Report: ObamaCare expected to cost taxpayers $805 billion
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The very -- this US Supreme Court says the president's health care law is -- taxpayers are about to throw -- that.
Welcome everybody happy to have -- -- Neil Cavuto -- do -- -- you remember that.
It's -- cost to say that you've got to take responsibility.
To get health insurance.
Is -- -- -- not a tax increase.
Well so much for that because High Court says that the law is indeed -- tax.
And the Obama administration had argue before the court that it was a tax and now.
More than 800 billion dollars and added taxes are coming your way a lot of -- people.
Making a lot less than that magic number of 200000 dollars -- years of get out your wallet.
The cost of this thing is about to make you -- -- -- Charles Payne and -- McDowell along without him was -- -- -- against Rihanna.
So Charles Payne we can -- its rule the particularly the -- -- -- show -- yeah.
That's funny to hear the media cover this thing and all the great things it protects it leaves out the great -- it'll.
Let's just an individual basis is for people forget about the companies for -- -- small businesses.
The Medicare -- attacks investments surtax.
Cadillac plan tax medicine cabinet tax and -- tickle list goes on and on this is a gigantic tax increase on the on virtually everyone in America.
10% tanning tax are you play better way -- -- I'm gonna tell that this incident doesn't look really of the don't you have -- -- -- but you have to pay taxes to go with him 10%.
Excise tax on tanning.
-- -- you know needed.
That's -- decided to back out and -- now.
And that's not to sound sexist you beautiful and I just don't think you I think it's it's it's sort of tax or not I want you aspire rare I don't know I -- -- it's a needless tax that you needn't pet.
Well guess what I guarantee you taxes will continue to go up in this country because this part of the world getting -- -- right.
This -- is going to be a lot more expensive than anybody has any idea about and they are going to ultimately tax people.
Well I don't know a lot of the particulars but we're getting a sense of what's coming our way next year in the Tibetan right and you know would I feel like I like this ruling from the standpoint you're right I think I Elizabeth and the -- federal candidates -- -- he had a Communist and that's about it -- First I would call the Communist -- but I don't think it's something but come.
Listen the bottom line is this the constitution allows the government to create certain programs and certain entitlements there's no doubt that's constitutional.
The only thing years -- -- to pay for and chief Justice Roberts said is you gotta pay -- and you know this is the consequence.
Of an election you know.
This country elected.
The most liberal people to run it in 2009.
And to that end and yes it was -- -- -- them but that's what happened to doesn't -- people including this president who ran on the plight.
That he was gonna create a health care mandate.
And guess what it is constitutional because you know what it's constitution creek Wisconsin should -- to create these programs he just have to.
Well -- on that finance -- -- -- and that this is decided but we can debate how the court came to this conclusion.
I think the end result is now I know in the house they want to repeal this that's going nowhere fast Ben -- because of the -- of the senate.
So I guess you wait for the election to see if Republicans take over everything and then they try to repeal it.
Again easier said than done so right now we're facing a lot of taxes coming -- what what will the effect bit.
What effect is extremely negative we don't wanna have discouragement of spending we've done a lot of good discouragement of investing.
We're we're going down the road towards Euro socialism at a very rapid clip I think it gave him as usual they're brilliant point.
Look I can remember when an active Medicare they've done is gonna cause panties in -- I -- grabbing all country this into the cause of this is gonna explode.
And it -- -- more and more and more taxes.
And we wait we do have to take care of people but we don't have to break all the egg them all kingdom and try to put them back in their shelves in order to make healthcare plan that is a very roundabout way of doing it.
Obama has a Bauer good yes is Supreme Court could say anything is God's visual.
That it wishes it says give -- a ton of money being sucked out of the system and being passed in the hands of bureaucrats and ended doctors.
You know Adam Lashinsky I'm glad then that's in the Medicare I think is that start -- -- -- 65 is about a 66 million dollar program.
That is now of course -- have trillion dollar program and escalating fast.
Saba Social Security started out as about a 25 million dollar program sixteen workers -- in for everyone taking a benefit out of course -- substantially higher than that today.
My point is with a lot of these good intentions is invariably.
They get a good size price tag to go with them and it grows and grows and know when it realizes the enormity of that what say you.
Well on Social Security is is good example -- everything you said is completely true and yet he would talk about tampering with Social Security.
And seniors and others were becoming seniors are looking forward to that it to that benefit that they -- into.
Will throttle you for saying -- don't -- don't tamper with that and as I've said.
None of you know my husband and I still don't know -- I -- gates understatement but it is myself with my -- so.
I'm not I don't.
I -- I what I don't like starlet like except as it started out as a as a good intention with a relatively.
Cheap price to it.
It -- to be what it is today but not anti Christ and all good intentions in Washington start out that way now to -- I know I am I up -- -- I'm very optimistic about all of this deal and I'm disappointed with all of your pessimism and well and I -- guys take a look at the history.
They they do we get -- and I don't hear my adopted my optimistic viewpoint because Neil is that.
And of course that we about all -- history of government programs growing bigger than they should be we're gonna be vigilant as the president said will try to.
The law because -- been -- it.
-- you about what.
But here's the deal aren't that more people are going to have health insurance and that is going to be a good thing for our country because we have a true and atrocious it's.
-- you know you -- I would say -- you know I am optimistic on this Leo I'm optimistic because when they started Medicare on these you know new society.
Great society programs new deal -- to say get mixed up sometimes but in any event when they start of those things.
We -- in an -- -- pretty rapid economic growth we could sustain -- the insanity for a long time which.
We are we -- percent felt like now let's now now now the here's my -- -- when it start -- here's my point Butler -- we are bouncing wasn't you know great environment right but we will work to get world or to the dealership.
Bail it out unfortunately what but but we are now enacting.
We are now radically changing twenty -- socializing.
Of the economy believe that -- health care sector it's huge chunk of the economy.
I don't only to those numbers please leave I want you matters but -- -- huge chunks of the economy -- -- allies and we are now virtually any that are currently when we have.
One point 5% growth and going down.
And that is unsustainable -- thing.
But this is this is not about socializing medicine and you do it this is not a -- -- -- forgot about -- -- how tedious those ideas are up to judge Charles being unmet.
Another plot lines all listen when you talk to compassionate thing -- -- -- just look at everywhere the only civilized country that doesn't do this.
And they'll -- Spain has it.
Point 5% since we weren't going to Italy captain of chambers about relevant at every sentence you know so it's somehow somehow the idea that this would make our economy better by the way that is the cure all by the way you ought to -- how to make this better.
Make the economy better more people have jobs it will be covered -- -- in this can't give Medicare program.
Get this tax that the president said isn't attacks 775%.
Of its gonna fall people making less than 200000 dollars a year.
Bottom line -- come into office just focus like a laser beam on jobs and jobs only.
A lot of the crises that develops around those like housing like those without health care benefits and the rest.
Would have been address -- more people working period.
But he thought he really thought the stimulus program I mean this is -- the economic sort of a variety of Barack Obama he put that stimulus program was actually gonna work and bail him out until we can do all this up it's something that he handed to -- Pelosi yeah exactly it's not as crazy or we're gonna take a break.