The terrible, horrible, no-good, very bad bill

Let’s see if we can summarize briefly what’s wrong with the bill:

  • It leaves a nominally private health insurance industry in place, but the government will dictate what policies are sold, to whom, and at what price. In other words, it turns health insurance into a public utility. (UPDATE: Joe Biden says “We’re going to control the insurance companies.”)
  • It bends the cost curve upwards.
  • It costs a bazillion dollars.
  • It funds abortion.
  • It requires low-risk people to subsidize high-risk people.
  • It imposes price controls, which invariably lead to shortages. (UPDATE: I’ve read that the price controls have been abandoned. I certainly hope so.)
  • It denies individuals the right to decide for themselves whether to buy insurance.
  • It imposes new taxes on medical devices and pharmaceuticals, thereby discouraging innovation.
  • It sets the stage for health care rationing.
  • It bans some health insurance policies.
  • It imposes unjust and onerous taxes.
  • It includes payoffs for influential states and interest groups. (Yes, still.)
  • It is unconstitutional. (Interstate commerce, my foot. There isn’t any interstate commerce in health insurance.)
  • It undermines public confidence in our democracy.
  • It expands the power of the IRS.
  • It raids student loans.
  • It undermines Medicare by taking the savings from Medicare reforms and spending them elsewhere.
  • It is designed to fail, thereby justifying future government action to meddle further.
  • UPDATE: It creates a new funding cliff in Medicaid, similar to the one in Medicare.

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