The health care “reform” bill drafted by Senate Majority Leader Harry Reid adds new tax increases, and costs twice as much as its promised $849 billion price tag.

The tax increases (in billions) include:

1. 40% excise tax on health coverage in excess of $8,500 (individuals) / $23,000 (families). . .
2. Additional 0.5% Medicare (Hospital Insurance) tax on wages in excess of $200,000 ($250,000 for joint filers) – begins in 2013 – $54 B tax increase
3. Impose annual fee on manufacturers and importers…

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The Wall Street Journal calls the House version of President Obama’s health care plan “the worst bill ever,” noting that it will lead to “epic new spending and taxes, pricier insurance, rationed care, dishonest accounting,” and other problems.

At the Atlantic, Megan McArdle, who voted for Obama, explains how ObamaCare will cost much more than promised — at least $150 billion more.  That’s true even if promised cuts to Medicare included in ObamaCare actually take place — but as McArdle notes, even…

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With Democratic support coalescing around Sen. Max Baucus’s (D-Mt.) health care reform proposal, passage of a comprehensive overhaul now appears more likely than ever.  Opponents had their summer of protests.  But, Democrats have shown a renewed sense of energy since discrediting Sarah Palin’s “death panels” and Sen. Charles Grassley’s claim that ObamaCare would “pull the plug on grandma.” Still, while those charges may have been a little overwrought, there is plenty to be concerned about with the Democratic health reform…

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Health-care “reform” always costs more than predicted, as ObamaCare provisions have at the state level.  So the claim that the new, cheaper version of President Obama’s health care plan will cost only $829 billion, while not increasing the deficit, should be taken with a grain of salt.

Senate Majority Leader Harry Reid admitted that the actual cost will be more like $2 trillion, and health-care experts have given it a similar price tag of more than $2 trillion.

The reason for the…

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Democrats are cheering a Congressional Budget Office decision to “score” the Senate Finance Committee’s version of ObamaCare as not increasing the federal budget deficit. But it pays for some of ObamaCare’s massive cost by expanding state Medicaid programs, shifting its cost to the states. That will radically increase state budget deficits. Moreover, this version of ObamaCare, while cheaper than the four other versions, still relies on mythical cost savings and massive cuts to Medicare that are likely to be canceled…

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Obama’s health care plan uses imaginary savings to finance massive new spending. His claim that it will not increase the deficit is based on the notion that he can squeeze $2 trillion in savings out of the current health care system to finance his plan’s huge costs.

Washington Post columnist Charles Krauthammer, who once practiced medicine, points out in his column that these savings aren’t real, and that politicians falsely promise to pay for new programs through imaginary savings all the time:

“Obama said…

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When the government creates a new entitlement to health-care, it costs far more than predicted. That’s the depressing truth told by former Congressman Tim Penny (D-MN) and former Senator Rudy Boschwitz (R-MN), casting doubt on whether the trillion-dollar price tag of Obama’s health-care plan even begins to capture its colossal, budget-exploding cost.

“ObamaCare plans to expand the government’s role in insuring the American people,” Penny and Boschwitz write. “The government is already the largest insurer in the health care business through Medicare.”

Medicare offers…

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Rapidly-rising Medicare spending already threatens “to crush the federal budget,” and much Medicare spending is wasteful, yet the Obama Administration claims it can somehow save money by creating Medicare-like programs to cover all Americans. In the New York Times, economics professor Tyler Cowan calls it “the new voodoo economics.” Washington Post columnist Robert Samuelson concludes that Obama’s health-care plan “is naive, hypocritical or simply dishonest. Probably all three.”

Obama is firing an inspector general who exposed wrongdoing by one of his supporters, and previously…

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