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Everybody -- -- ball and welcome to cash in and are cashing -- this week Wayne Rogers John devouring huge studio.
-- -- also in studio also joining us this week.
President Obama's former top economic advisor now a professor at the University of Chicago Booth school of business mr.
Austin bulls be welcome.
Democrat senator Max Baucus warned the health care law could be headed for a huge train wreck.
Now senate majority leader Harry Reid says he's right if we don't spend even more money on its.
-- had unless we implement this property it's going to be a train -- I agree with him.
So we're not spending enough money or not implementing it properly your -- yes -- -- with Pearson here's what we have now changing.
We have the menu.
But we don't have any way to get to the menu.
Sorry Jonathan that obamacare menu is already chock full of taxes and fees to pay for it so.
What gives me how does how would carry -- Harry Reid believed that spending even more money more taxes.
-- have any beneficial effect mean.
Obamacare is already a train wreck -- and you've got doctors leaving the practice you get insurance premiums going up you've got people getting their hours cut at work.
And that's the result of central planning central planning which obamacare is always leads to the destruction of values -- -- -- for the president to say that you know this is just above this it's a glitch -- -- people's lives people's money he's talking about.
And that's -- obamacare was doomed from the start -- let me get mr.
Austin -- and their former top economic advisor to the president President Obama also -- that economic guru I guess at university Chicago Austin what about a three point 8% surtax -- investment income 2.3 percent.
Medical device tax obamacare tax payroll tax.
Individual mandate tax tax be tax -- Enough is enough so stop.
The hop that's just confuse that hope that that entire rant that lost me at -- -- I mean that that's committed total mischaracterization.
Of the bill.
And when Harry Reid is saying.
That they need to.
Who work on implementation.
He's not talking about expanding -- entitlement or anything of the sort they're talking about just basic stuff that you've got.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- What was wrong -- there's a three point 8% surtax and investment income there's is that when we reported a net -- that surtax on high income people.
-- -- of the payroll taxes would have.
What payroll tax are you referring today.
Payroll tax going away had nothing to do with failed and the no I'm talking about the bombing editor of the Obama -- error medical payroll tax -- -- Specific text obamacare the obamacare -- individual mandate noncompliance tax Austin come -- man.
Yes if you just they did two things that -- the same thing.
-- saying is the increased on the capital gains rate is the same thing.
As the other thing you tried to portray as a second tax lookup bought because it's -- can't look at this there's no doubt there's going to be practical.
Hiccups just like when they passed Medicare.
Which would literally just free money that the Bush Administration was giving out.
There were still just -- go pick up some problems with that.
But if you look overall.
The Congressional Budget Office is not forecasting that this is going to be a big increase in the deficit by any means boy if you look at the margins of unemployment I I.
Have to jump in -- Austin I'm sorry our business and apply it I've heard of that show us he's got up to -- -- -- hold -- I think to draw a logistical hiccup I don't that my -- you don't know what's gonna happen to the middle class.
What about the Cadillac tax that the insurance premium fees that we're gonna pay for all this and not this is making health care better.
We already know that doctors are turning patients away and it's not even in full implementation.
Look at you know that we're trying to help with this think are the winds are -- to get her at the end of the day.
I know no one really gives a damn about.
Good families making 250000 or more paying an extra deep when he percent to good -- -- cap but it's still.
Means that it's less money in my pocket for me to save for my kids for college if that's the case.
This hurts all of us all of and I'll say it doesn't make my care better.
Health care -- as you know were rising at double digit rates for decades before this law was passed.
In the last two years they have risen at the slowest rates.
Really on record.
Sorry to say that health care costs are going night.
And then I might find it while they're here all Islamic here is a cause not just -- -- probably hear -- say that that you guys so they knew were there when the wind was being sold.
You guys sold it and I remember this term if you don't remember this term.
We will bend the cost curve down you're not bending the cost per round that's the Marlins -- premiums are still rising I got to throw a whole lot although I've got to bring Wayne Rogers and go ahead when.
You -- all due respect no one really knows what the cost is you've got 2300.
Pages which say 171000.
Times that the rules and regulations are gonna be written by the secretary.
Of of health and human resource it -- say the congress knew it when they voted on it.
-- -- even now nobody knew you don't know now there are 20000 pages of this it -- they constitute a towel in excess of seven feet -- -- red -- You don't know Harry Reid finally spoke the truth when he said this is a train wreck because nobody knows the cost and you can't tell us today and they can't tell at all.
And don't you go ahead having to -- it did you ask you this one point two trillion dollars is the latest.
Number that the CBO says is gonna cost Stephanie Eric -- the outside that the grand -- -- -- promised for you are here to here.
You know those remain elusive what we know is right -- -- our face are the higher costs are the higher taxes I think.
More even worse -- to me is the internal damage that's being done.
To the healthcare industry often actually said something quite rightly say that health care costs have been rising for a long time they've been rising to more and more government has gotten involved in health care that government is getting completely involved healthcare and again I worry about doctors leaving the practice and forget being able to keep your insurance what about when your insurance is even there -- the doctors aren't even there to treat you.
At any cost that is what's happened and every area every part of the world where socialized care which is this is is has been tried Austin the president has been backtracking on a lot of the promises that you guys made when news when you sold this the American public.
Are there is -- more what what what's left.
Like I don't know what to tell you guys are worked out.
And it and website you know what -- fan and it and we're friends.
What I just cannot disagree more with with these statements.
If you ultimately want -- -- -- factories of health care cost is not due to the aging of the population.
But is due to the if hit the Verizon government agreed that that just -- the bounds of credulity.
If you look at the cost of medical insurance.
Medicare is the lowest cost provision of insurance that there is in the market it's not the -- that's completely backward.
Private insurance companies are vastly more expensive for providing the.
-- way by the way you wanted to -- aliens are donating.
One of the new -- I didn't mention yet Austin is the new.
Tax on health care insurers guess guess who's gonna end up beating that by Tracy.
I mean I just think it's so simple talk to any got talked -- as a private practice and asked them.
How they're feeling about all this and they're dumbfounded they're confused and -- to the -- -- You are thinking of shutting their doors -- it just that simple.
Let me get waiting here one more time glad cause an online.
Austin all due respect is what I said before and we could see again debate what it's gonna cost enough you don't know.
I don't know and they don't know no one knows what the cost is going to be put you got to me that's way and -- -- -- right the first place.
They have abdicated the congress has abdicated their responsibility.
To the regulate as the regulators are gonna make up the rules.
They don't tell you how much it's gonna cost it is going to be after the fact.
And it's go to be bad cause we know the federal government can't run anything I wouldn't you know Morgan wrote finally -- there.
And that's not an insult to you -- could -- not the federal government anymore.
You were -- -- more.
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