· The private sector, including all citizens will face government coercion as never before – aggravating risk, as government will intrude intensely into your life, health and wallet and all will pay, directly or indirectly.
· If an insurance company spends over 10% of its revenue on administration they will be forced to give their clients a statutory rebate, determined by state authorities. Considering the present average administrative cost is 30% for insurers of individual and small group plans they will go bankrupt or simply close.
· Insurers are not allowed to consider pre-existing conditions.
· The government will mandate coverage, and it will be extensive: ambulatory patient services, emergency services, hospitalization, maternity, newborn care, mental health, substance abuse, prescription drugs, rehabilitative services and diseases, preventative and wellness services, chronic disease management, oral and vision care, pediatric services.
· Though a key argument for universal health care was inadequate competition among insurers, competition is eliminated in the bill because everything is fixed.
· WSJ says, “Not one syllable in the Reid bill is dedicated to securing a constitutionally guaranteed minimum rate of return.”
· If passed on Christmas Eve all affected will begin jockeying for modifications, a process that will continue ad infinitum.
Welcome mat for foreign entrepreneurs:
"[Foreign] Science and engineer grads should get visas stapled to their diplomas,” says Paul Kedrosky and Brad Feld, venture capitalists, in “Start up Visas Can Jump-Start the economy.” Job creation is vital to our recovery. Surely we should stop discouraging brilliant foreign born students and entrepreneurs from coming to or staying in America. Now the entry process can take year [while millions of largely uneducated illegal entrants are allowed to stay].
Though immigrant residents represent just 12.5% of the U.S. population in 2008 they accounted for 40% of technology business founders and 52% of Silicon Valley companies. Did you know Google, Intel, Yahoo, DuPont and Procter & Gamble were all founded by immigrants?
Of Nobel Prize winners in chemistry, physics, and medicine 8 out of 9 were American, but half immigrated to the U.S. Of 35 top young innovators highlighted by Technology magazine only 6 were born here. Our immigration policies require they go home after graduation, and then apply for U.S. residency. Furthermore, we have dropped from 1st to 21st in high school graduations between 1960 and 2005, and from 2nd to 15th in college completion just in the last 20 years.
The authors suggest a “start-up-visa for entrepreneurs who are able to raise at least $125,000 from an accredited U.S.-based venture capital firm.”
