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FBN's Elizabeth MacDonald reveals the $101.7 billion sales tax that health insurers will pay over the next 10 years.
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Or any Mac's bottom line in the so Michael another tanks that's kind of hidden away no one seems to -- and I don't know about -- -- it's a thing also raise taxes pop up all over the place at a health reform.
You leading up because -- -- bill and now we have to read it and I read this section of the -- I thought holy cow.
This is attacks that gets what will be passed on to consumers and businesses.
Take a look at the cost 101 point seven billion dollars over ten years that's according to the joint committee and taxation.
What is it averaged out for American families 7200.
Dollars over those ten years -- seven and twenty bucks a year -- -- the president said that -- won't have to.
Basically you your health insurance won't changeup and you'll actually saved 2500 bucks and health insurance.
And here's the deal.
And there's also the fight but -- that well you know look these taxes go up medical device manufacturers also to pay tax -- pass along.
Guess what the CBO and a joint committee in tax face in say that this tax -- health insurers are gonna have to pay.
On premiums that they sell in other words the health insurance industry is going to be assessed this new health reform tax.
Those two government groups are saying the consumers will have to pay it -- businesses will have to pay it they'll have to -- they're going to pass that tax along to families and businesses.
And these -- the states are gonna get hit hardest meaning the consumers and businesses in these states.
Again and it can be hit hardest by -- -- new health insurance sales tax on health insurance so.
California New York topping the list also Pennsylvania and Florida topping the list there.
So what's striking about this is it joins me.
Committed taxation and the -- analysts saying that you American family -- American bases are gonna have to pay this tax because insurance industry.
Will pass it.
Along to those groups.
It's a big deal yeah and every time they say well automobile parts on the consumer that's the first sign you know -- -- -- it will.
Yeah right -- so quickly they joint committee taxation is saying your premiums would be two and a half up to two and after you know higher.
Then they would have been without this tax so you may not see the tax directly you'll see your premium costs go up and the premium costs for businesses go up and they're saying possibly lower wages and profits.
At you know small the -- and businesses across the -- currently.
Eniac thank you so much organic truth to what's going on with health reform -- always to.
I'll always pretty you -- thank you him and it.
