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Manhattan Senior Fellow Avik Roy on the government beginning to implement the health-care law.
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Obamacare taxes and regulations coming to you soon a -- -- is now here.
-- cure with the Manhattan institute a senior fellow there thanks for coming on tonight we appreciate it.
Let's talk first a little bit about what people can expect coming up on the horizon in the short term.
Because this all rolls out over several years what taxes for example people face in the new year.
-- SON 2013.
In the -- fourteen as the big it is a big bulk of of the taxes 1213 we'll start to see the investment taxes the taxes on dividend income -- have a big impact it will have that's why the stock markets reacted pretty aggressively to Obama's reelection as people start to realize well the cost of capital is going to be significantly higher.
-- 2014 you're gonna start to see the real bulk of obamacare the one point two trillion taxes -- that's going to be 2014.
The spending will start to kick in as well.
So and then a law -- theoretically start to get implement that years of 2014 is the big year but the -- -- are to kick in.
Do we start to see it would seem a little bit -- -- and what's interesting we -- the nice stuff you know -- keeping your kids on here.
Insurance policy for longer all that kind of stuff that people really like happened earlier but now we're getting the minute nitty gritty now with the taxes.
And you see even now people don't like the law if you look at exit polling on obamacare from that.
Election just last week.
The -- majority of people want Obama care either repealed -- rolled back but the question is of course present won the election how do you do that over it.
There really isn't a waiter in a repeal a law you know -- even if Romney had one.
Republicans lost two seats in the senate so there's only so much you can do if you don't have control of congress -- an -- some -- but not much but now with Obama winning.
There's very when and it will limit up limit what you can do -- what you can do list helpful argues the law as that as perhaps as an outlet for reforming entitlements and and that's one thing that obamacare manned up that maybe the legacy that it's gonna -- -- huge competition for resources between Medicaid.
Obamacare and Medicare the three big health care entitlements and Republicans will have some say as -- how that plays out.
So what you're saying as it sounds like we're saying is some of the money could be diverted somewhere else what he means.
Well you know -- the irony of of a lot of this health -- politics is that Democrats criticized Paul Ryan for the premium support plan for Medicare reform.
Well the Obama care exchanges which apply to people who are low to middle income but also as a premium support plan.
So -- Democrats have a an argument against applying the Obama care exchanges to Medicare.
I mean.
They like obamacare right so we'll -- be so terrible about migrating the -- seniors into the Obama -- exchanges that would be a way to reform Medicare using a democratic approach a premium support.
Wow okay your -- a lot -- had a little bit there is you're saying.
Both about Florida for example you bring up Medicare Medicaid very important obviously in Florida -- 7% of doctors there are not accepting Medicare patients right now.
Is that gonna get better is -- gonna get worse.
With a lot it's gonna get worse because the cost pressures in the spending president of Medicare.
The politicians have cheated they said we're not gonna reform -- the program to make it more efficient we're just gonna pay doctors and hospitals less to cover the same patients at a certain point.
Doctors quit and hospitals go broke.
The Medicare actuary the CFO the Medicare program says that 50% of all hospitals will go broke by the end of the decade because of these cuts 30% by 2030 hospitals are -- the program.
-- that's why the entire industry is restructuring everybody's -- trying to come together a lot of doctors tell me they don't think they can hang out their own shingle anymore because it's gonna be so expensive to be a single practitioner what do you say.
Yeah that's true and what and what's happening there is that's driving up the cost of health care because -- reason they're signing up for hospitals is -- hospitals can charge higher prices.
Higher prices means higher premiums.
You know you wrote something that I thought was very interesting and very telling that obamacare will be the last entitlement that this -- country will ever put forward.
How can you be so sure.
When you can never be sure of course there are still Democrats out -- -- we broke right.
Let me know would be pretty impressive just to see a massive expansion again and and and health care it's really -- the last major building block for the welfare state once you've got that what -- Got everything -- -- -- adds it's so obvious to so many people went to pass a major entitlement.
The cost never come down do that Virginia are okay thanks for coming -- -- a pleasure to see it would great to have you on -- here -- my pleasure thanks coming.
