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Wanted: Economist to Trash Health Bill

Foes look for an expert to prove that Obamacare kills jobs

By Jane Yager,  Newser Staff

Posted Nov 16, 2009 9:01 AM CST
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(Newser) – Pro-business groups opposed to the president's health care reform are raising funds to hire a "respected economist" to study the impact of the reform—and find that it is a threat to jobs and the economy. In an email obtained by the Washington Post, a top official at the Chamber of Commerce writes: "The economist will then circulate a sign-on letter to hundreds of other economists saying that the bill will kill jobs and hurt the economy.

"We will then be able to use this open letter to produce advertisements, and as a powerful lobbying and grass-roots document," he adds. The email, proposes spending $50,000 for the study, also says the idea was "suggested by our Congressional allies"—a sign of intensifying attacks by opponents as Dem health reform plans move into the Senate.

Bruce Josten, chief lobbyist of the U.S. Chamber of Commerce, which opposes the President's health care reform, is seen on Capitol Hill in Washington, Tuesday, Aug. 4, 2009.
Bruce Josten, chief lobbyist of the U.S. Chamber of Commerce, which opposes the President's health care reform, is seen on Capitol Hill in Washington, Tuesday, Aug. 4, 2009.   (AP Photo/Susan Walsh)
The United States Chamber of Commerce building in Washington, Tuesday, Aug. 4, 2009 in Washington.
The United States Chamber of Commerce building in Washington, Tuesday, Aug. 4, 2009 in Washington.   (AP Photo/Manuel Balce Ceneta)
Dr. Margaret Flowers, Aetna CEO Ron Williams and Randel Johnson of the U.S. Chamber of Commerce take part in a health care roundtable before the Senate Health Committee, June 11, 2009.
Dr. Margaret Flowers, Aetna CEO Ron Williams and Randel Johnson of the U.S. Chamber of Commerce take part in a health care roundtable before the Senate Health Committee, June 11, 2009.   (AP Photo/Harry Hamburg)
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COMMENTS
Showing 3 of 23 comments
hybrid
Nov 16, 2009 8:54 AM CST
@my voice I dont know what you looked at but the galveston plan is easy,,,gov bonds that are garenteed and annuities that are garenteed(you appearently dont know how annuities are garenteed). The new plan could be inacted today by using the money that ss has now,,,,witch at just better than 6% apr could easily make up any shortfalls, not to mention the money that congress has to pay back to the program witch is more than enough to cover the obligation we have to our already retired. Instead of typing in to google "how does galveston not work" witch has been debunk you would have conceided the point.......i have put alot of work into trying to get the loophole opened back up for Qualified counties but the irs and the us congress doesnt want to let thier piggy bank go.
Snowleopard
Nov 16, 2009 8:17 AM CST
gnieberg: can you be a bit more succinct?
myvoice
Nov 16, 2009 7:28 AM CST
I looked it up and this is what i found....When Galveston county opted out of Social Security, it was essentially “free riding” on the rest of the country. Galveston county workers do not provide any contributions to support current Social Security beneficiaries, including former Galveston county workers who retired prior to implementation of the county’s system in 1981. Only about 5,000 employees participate in the plans run by Galveston and the two other Texas counties opting out of Social Security,[7] so these counties’ opting out of Social Security has a negligible impact on the finances of the program as a whole. But the Galveston model would be impossible to replicate on a national scale. If Americans in general redirected all of their payroll taxes into new private plans, there would be no tax revenue left to pay the $500 billion in annual benefits promised to Social Security’s 45 million current beneficiaries. Those benefits consequently would have to be funded by income taxes or an entirely new tax, such as a Value Added Tax. Even if the new private plans appeared to provide a better deal than traditional Social Security (which is not case with the Galveston plan), that apparent free lunch would evaporate once the cost of the additional taxes needed to support current beneficiaries was factored into the equation.

 
health care • health care reform • bias • President Obama • US Chamber of Commerce

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