Granting that Associated General Contractors of America is an interest group (just like labor unions), the organization has succinctly stated some of the reasons why the Democratic health care legislation (HR 3962) being rushed through Congress and shoved down American throats should be rejected.
Employers will be subjected to an 8 percent pay roll tax for each employee
that does not receive coverage from the employer, even if the employer offers
adequate benefits - as determined by a government entity - but the employee
chooses to enter a government plan.
Mandated expansive coverage and the existence of the public plan in the
legislation will likely eliminate much of the nations' private insurance.
It is not feasible that the government can be both regulator and
participant in the health care system.
The $1 trillion bill will be financed by $460 billion in new taxes and $500
billion in future Medicare cuts. The new taxes include a surtax for
individuals with income above $500,000. This tax will be especially harsh
for businesses structured as pass through entities where the business taxes
are paid by the individual company owners, making it more difficult for the
employer to operate the business and create or even retain jobs.
The punitive business taxes and new and future mandates on insurance
coverage will fail to lower the costs of purchasing health care and could
stifle economic growth at a time when the industry is already suffering unemployment
that is nearly double the national average.