Health Care Insurance Bill
Did you think the health insurance situation was going to get better? Hopefully it does, but it doesn’t look that way for many middle-class working families. AT&T and many others have announced that they are taking $100 million or more in healthcare write-offs, while some other companies are fighting back.
Instead of simply accepting a large 1-time charge for the health care bill, many companies are cutting health insurance coverage and trying to eliminate other benefits to offset the costs of this new health bill. After all, if you are a company barely breaking even in this economy, how else are you supposed to survive this health bill.
Not all companies are as fortunate as AT&T, who are able to take the one time charge of $1 billion to cover the health care bill costs. Many businesses were in trouble before this bill passed, now they are scrambling to overcome yet another obstacle.
I’m not a rich man, as a matter of fact I am one of the few that benefit from this health care bill financially. But in my opinion, I believe the health care bill will help many, but will hurt many more. Passive income, such as dividends and interest payments, are being considered for a higher tax as well. It’s just a matter of time before the rich start leaving this country or find an ingenious way to conduct business outside the US, which will result in an endless spiral of higher taxes and hardship for all.
Hopefully we can find a happy medium to stop raising taxes and understand that life is not always fair.
