Higher Taxes with New Health Plan?

I can’t really tell you my full opinion on the Obama Administration’s new health plan, except that I have this fear that this well intentioned legislation is absolutely coming at the worst possible time it can right now when the US is still in the throes of about a million other economic problems. The additional tax burden that this will ultimately place on the upper class and ultimately when it falls short, most likely also the middle and lower class, may make the consumer spending problem even more extreme, I’m afraid.

I’m not even a Republican or a Democrat, but when I read some of the basics for this plan, it begs the question, where the heck is the government getting all this money for this very expensive program? And if you think that our taxes aren’t going to be increased substantially eventually as a result of this, you may want to think again.

The burdens on big business will be pretty bad as well, and that always trickles down to us, the “regular guys” as well, in higher taxes and also less jobs out there. Big companies are going to bear the larger brunt of this new legislation, and right now, that just is bad news.

Obama has said that this will actually benefit small businesses and give them greater incentives to offer health coverage. I hope he’s right, because if the big guys aren’t benefitting, it’s my fear that this will impact the jobs market even more.