Details of the Affordable Care Act (Obamacare) are still coming out. "The rich" will be helping to pay for it. The IRS just published rules covering new taxes that will help pay for the expansion of insurance included in the plan.
Plus medical equipment makers will pay a new 2.3 percent tax on gross sales. According to one industry spokesman this is more like a 15 percent tax on actual net earnings and could eliminate over 40,000 jobs. The tax would affect most everything from latex gloves to pacemakers.
My question is, who pays for this new tax on equipment? Hospitals and others in the medical profession? Insurance?
Ultimately, all who receive or use their services will pay by direct fees, increased insurance costs or taxes to pay for the Affordable Care Act.
Would reading/understanding this piece of legislation prior to passage have made a difference? We'll never know.