Day By Day by Chris Muir June 8, 2009 – The Red Dot

The Red Dot this week for the Obama Administration will be health care reform or Obamacare. With a “leaked” draft release last Friday of a reform plan with an individual mandate for health insurance, the Democrats in Congress and the President are scrambling for ways to pay for the program.

Suggestions include:

1. Taxing high income earners by removing all of their tax deductions above a certain level
2. Increasing “SIN” taxes, including sugary foods/drinks, alcohol and tobacco
3. Taxing existing health care benefits provided by employers.

The major hurdle for Obamacare is the cost, despite the philosophical objection of “socilaizing – nationalizing” the remaining 50 per cent of the health care industry. The economy is still soft, gasoline prices have resumed their upward spiral and unemployment is at 25 year highs.

I continue to handicap the chances of ANY substantial health care reform as slim to none.

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